Funds Are Not Currently Available....

[crazydaycarelady]

Do you always call to verify? I have never done that before. If you do not go to the same bank I bet she figured it would take 2 days for your check to get to her bank and hopefully she plans on having money in there by then.

[Thriftylady]

Do you always call to verify? I have never done that before. If you do not go to the same bank I bet she figured it would take 2 days for your check to get to her bank and hopefully she plans on having money in there by then.

Yes I do, because if I don't and checks bounce then stuff on my account will bounce. So her check bounces and that money gets taken out, my bank charges me $50 and then for everything that bounces due to that from my account I pay $33 an item. Then likely I would have to take someone to court and wait all that time for my money, and in the meantime I am broke. No, I am not willing to do that.

[MyAngels]

I understand why you'd want to call to verify funds, but even doing that doesn't guarantee the funds will be there when the check is actually presented. For instance, my bank (a CU) clears items as they are presented 24 hours a day, 7 days a week. Many banks are going this route these days. By the time you deposit at your bank and it is presented at her bank many other things could be presented and paid, leaving no funds for your check. I guess I'm just saying that if you want to be really sure of payment you'll have to cash checks at the bank they're drawn on.

[Thriftylady]

I understand why you'd want to call to verify funds, but even doing that doesn't guarantee the funds will be there when the check is actually presented. For instance, my bank (a CU) clears items as they are presented 24 hours a day, 7 days a week. Many banks are going this route these days. By the time you deposit at your bank and it is presented at her bank many other things could be presented and paid, leaving no funds for your check. I guess I'm just saying that if you want to be really sure of payment you'll have to cash checks at the bank they're drawn on.

Yes that is true, and when you call they tell you that it would clear at that moment but they can't guarantee it. I just find it is one tool I can use to help protect myself.

[Pepperth]

I'm kind of surprised they verify funds over the phone. None of the banks I've worked at will do that for a person due to the fact that verification doesn't guaranty that funds will be available at the time the check is presented.

[Thriftylady]

I'm kind of surprised they verify funds over the phone. None of the banks I've worked at will do that for a person due to the fact that verification doesn't guaranty that funds will be available at the time the check is presented.

Most of them have an automated system just for that now. But It always says "At this time, and this is not a guarantee of payment".