What do you do if a bank tells you the check you are trying to cash is no good?

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    Last post ago almost 3 years by Feelin froggy
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    trpschick

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        trpschick

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        Received a check for a payout ... took it to 2 different banks and they each said that the check is no good.  How do they know?  Needless to say I couldnt cash it but they told me I might be able to deposit it into the bank but would have to wait for it to clear.  I am even afraid to deposit it if it is a bad check ... I sure dont need my bank coming after me for fraud and I sure dont need the fees that I will be hit with if this is indeed a bad check as they say.  Anyone have any advice? 
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        chillymellow

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        was it from out of the country?  or like didn't have the bank address?

        I've never had them say it was a "bad check" but they did take my deposit out of my account once from a canadian check and held it until it cleared.  I would deposit it, not count the deposit until it cleared, and hope for the best.  If it was still declined, then I'd get back with the issuer and demand a different payout method.  They shouldn't ask what it was for and you can always say none of your business.  You would most likely get a few warnings from the bank before they'd close your account, but they wouldn't do anything else other than that if they were going to do something.  If you wait for the check to clear, there shouldn't be any fees associated.  good luck.
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        dabigdog

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        i would have zuga contact the rep.  this isnt the check from previous payment problems is it?  sending a bad check is fraud and the bank has to know something that non-banking people may not know.  zuga is the man and will deal with the matter appropriately if you can get him involved.
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        hymacaw

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        had the same thing happen to me several months ago.  Casino/processor sent a check that was drawn on a Canadian bank, which was a 1st for me as they are almost always drawn on US Banks.  What triggered the bank not wanting to accept the check was the routing number on the bottom.  US banks use a longer routing number than Canada...I didn't catch it when I received the check and I also tried 2 different banks who said no way unless I wanted to have them place a 30-45 day hold on the check in order to clear...which I refused to do.  So, I returned home...emailed the casino rep and told them that the checks they were sending were worthless and I wanted to have the funds wired into my account instead.  I asked them to place a stop payment on the 2nd check which was "in process" as well as the 1st one (this was a $7500 withdrawal disbursed in two installments).  It was excrucitating waiting for this to get straightened out because it took another 8 or 9 days before I actually got the funds into my account after waiting 2 weeks prior to that.  So...I do not take check withdrawals anymore...not worth the hassle....ALWAYS bank/wire transfer as long as your financial institution will accept incoming international wires.  Good luck trpschick...we are SO at a disadvantage anymore with online gambling and we just have to assume this risk if we want to play.
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        Feelin froggy

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        Was it drawn off of the banks you tried to cash it at? Normally they would just cash it against your account as long as you have the cash available and if it's no good it would come back debiting the check amount from your account whether it's from an international source or not. Seems odd that they knew instantly, unless it was one of their own checks. Did the teller walk away with the check? Maybe they called to verify funds because it was a large amount? Even so, weird. If they say it's no good I wouldn't deposit it. You'll only pay fees.
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        trpschick

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        The check was drawn on the Mutual Bank of Omaha ... but all that was on the check itself was the name of the company with no address attached or on the check itself. The correspodence attached had a phone number where you call the company "Valencia LLC" which was also on the check with no address,  but when they called they just got some random CS call center.  so they said the check was bad.  I went ahead and deposited it in my bank and hopefully it will be ok.  This is just scary to me is all, to have 2 different banks telling you the check is a fradulant check.  This check better not bounce or I am really going to flip out.  Every other check I have ever received was from a company called Donzi LLC but they were always for under $1000 so I could just go cash then at Walmart who never questioned and I have never been contacted saying that any of those checks came back as bad.  So who knows ... I will just have to wait to see what happens I guess

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        chillymellow

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        well, if it's any help, I've had several checks without the address info, and thought there would be a problem, but they went through okay.  Haven't had one for over $1000 for a long time.  It will probably all be okay, just be patient for it to show up in your balance.  It will probably happen faster than you think.

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        trpschick

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        dabigdog wrote:

        i would have zuga contact the rep.  this isnt the check from previous payment problems is it?  sending a bad check is fraud and the bank has to know something that non-banking people may not know.  zuga is the man and will deal with the matter appropriately if you can get him involved.


        needless to say it is from that payout .... I am very leary now, but in their defense, no check they have sent to me was bad ... so Im hoping that this one isnt either. 
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        footdr

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        trpschick wrote:

        Received a check for a payout ... took it to 2 different banks and they each said that the check is no good.  How do they know?  Needless to say I couldnt cash it but they told me I might be able to deposit it into the bank but would have to wait for it to clear.  I am even afraid to deposit it if it is a bad check ... I sure dont need my bank coming after me for fraud and I sure dont need the fees that I will be hit with if this is indeed a bad check as they say.  Anyone have any advice? 


        Most payout checks can ONLY be deposited so unless the bank advised you that the account the check was written on had insufficient funds, I would deposit it.  All of the checks I have deposited have been credited to my account the following day, without exception.  However, if you have been overdrawn in the past 6 months they may wait until the check clears to credit the amount to your account.  Deposit it, but don't spend the amount of the check until you check with the bank and they confirmed it cleared. Shouldn't take more than 5 business days if written on a U.S. bank account(actually less in most cases).

        If the check does not clear, contact the casino.  Demand they also reimburse you the bounced check fee, you will probably have to send a copy of your banks notice that it bounced.

        Also, you can ask your bank to check whether or not the account the ck is drawn on has sufficient funds prior to depositing it.  They can do that for you.  You can also phone the bank it is drawn on to get that same information, but you should identify yourself as a business or they might try to tell you that they can't give you that information.  I have never had a problem, but I do own a business and I know how to do it.

        It would only cause you financial problems if you spend the money and then the check bounces.  So if you are concerned, don't spend the money until the check clears.

        This is one reason I don't accept checks from casinos and most comply with my request.
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        footdr wrote:


        Most payout checks can ONLY be deposited so unless the bank advised you that the account the check was written on had insufficient funds, I would deposit it. 


        I respectfully disagree. I have been in the banking industry for over 10 years and have never heard of this. Whether a check is cashed or deposited it clears the other bank the same way.

        If Mutual Bank of Omaha says it's no good I don't know why you'd doubt it. If it was a matter of insufficient funds, the account may have money in it my the time it clears. I hope it does now that you've deposited it trpschick. Good luck.
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        Lootva

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        Hmm, never really used checks, as they seemed too complicated to deal with. Anyway, is there a reason why it is better to withdraw using checks instead of wire transfer?
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        trpschick

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        Lootva wrote:

        Hmm, never really used checks, as they seemed too complicated to deal with. Anyway, is there a reason why it is better to withdraw using checks instead of wire transfer?


        I originally asked for a wire transfer but as usual they screwed that up and it came back to them.  I told them how to specifically do it because when wires are done to my Credit union they go through another Credit union who then notifies my credit union and tells them where to credit the funds.  I guess those specific directions were just too difficult for them to follow.  So alas, they contacted me about 2 weeks later telling me the wire came back and that they had to issue a check.  That was the withdrawal before this last one in which they just automatically sent a check. 
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        bongo

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                    Man, this is not very encouraging....I only used a check once;  that was from MG  years ago for $200  and deposited it and it went through fine.  (I think it was drawn on the Bank of Nevada)  Since then I've pretty much done ewallets or ACH/bank wire(s).  I think  under the circumstances a wire might be your best option; of course I don't know what options they have given you,  I'm just saying I've never had a problem with a wire/ACH  it'll either go through or not in which case you're not on the hook. 
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        trpschick

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        yes checks are becoming a pain and I am tired of waiting for them to process whenever I initiated a withdrawal.  My wire transfers have to be done in a specific way and they have been advised of exactly how it is to be done .  Hopefull the next time i withdrawal from anywhere it wont be such a hassle.  Thanks for everyone who replied to this post.  I appreciate every single one of you! 
















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        footdr

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        Feelin froggy wrote:

        footdr wrote:


        Most payout checks can ONLY be deposited so unless the bank advised you that the account the check was written on had insufficient funds, I would deposit it. 


        I respectfully disagree. I have been in the banking industry for over 10 years and have never heard of this. Whether a check is cashed or deposited it clears the other bank the same way.

        If Mutual Bank of Omaha says it's no good I don't know why you'd doubt it. If it was a matter of insufficient funds, the account may have money in it my the time it clears. I hope it does now that you've deposited it trpschick. Good luck.


        Well it is well known that 99% of casinos advise players that checks can only be deposited.  So, as I said, unless this players bank specifically refused to deposit the check(and the only reason I can think they would do so is if they checked and the account it was drawn on had insufficient funds) there should no reason for the bank not to accept it for deposit.

        Regardless if you have been in the banking industry it is not a banking industry issue.  It is the procedure that the casino processors seem to be following.  If you question what I am saying ask the cashier at any RTG or MG casino and they will advise you should not attempt to cash the checks they issue and only deposit them.

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