Quote:
Originally Posted by WiredGuy
I went in to the client's bank to speak to their manager about it and they wouldn't do a thing. They wouldn't contact the client, tell me if I could somehow get them certified when the funds came in, nothing. Quite honestly, I was surprised TD was allowing this but considering they charge $25 - $40 per bounced check, I can see why they'll defend their clients, they're directly profiting from my losses.
WG
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WG, sending a check on bank collection is done from 'your' bank and not theirs - meaning, your branch manager has to initiate the 'collection' normally, on the bounced checks you have. If you've sent those back to him, you will have to deposit them again, have them bounce and then ask your bank to send them on collection. Just note that it will take 30-60 days and most likely cost you another $ 40 per check they collect + the NSF fees per check. It's your best bet other than going to his office and getting the cash for it.
As the funds come in to cover each check you will be paid the amounts of the checks.