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Started By
Message
re: Cashing a REGIONS check at a Regions bank
Posted on 12/24/09 at 4:25 pm to PresterJohn
Posted on 12/24/09 at 4:25 pm to PresterJohn
quote:I have no argument with that statement. And I know of no law or regulation which requires a bank to provide any service to a non-customer for free.
He is entitled to present the check to the bank upon which it was drawn and to demand payment.
Cashing a check is a service. If the person (non-customer) presenting the check does not want to pay for the service and he does not want to (or can't) deposit it into his own bank account, he can demand to be paid in cash by the maker of the check. Or, he can go with the maker to the bank and have the maker cash a check.
I'm not exactly sure where you are coming from by proposing banks are legally required to cash a check (or provide any service) for a non-customer gratis.
If you are so sure charging a fee for cashing a check for a non-customer is illegal, I suggest you test it by filing a class action lawsuit. If you are correct, you will make a bundle from it. I'm willing to bet someone else has already tried that.....and lost.
This post was edited on 12/24/09 at 4:31 pm
0
Posted on 12/24/09 at 6:10 pm to TigerinATL
quote:
Over 5 years ago I was printed by Wachovia. I don't see what the problem is, they are protecting their customers money from theft.
the only problem I had with it was I didn't like the idea of the fed easily getting your fingerprint just for cashing a check ...but I discovered I misunderstood about the Check Clearing for the 21st Century Act .... I thought all banks scanned actual images (including the print) and sent to the fed, daily...but I have since discoverd it's just the micr numbers ... the actual print images and prints stay at the banks.
quote:
the checks are sorted by machine according to the routing/transit (RT) number as presented by the magnetic ink character recognition (MICR) line, and scanned to produce a digital image. A batch file is generated and sent to the Federal Reserve Bank or presentment point for settlement or image replacement.
great discussion though all
This post was edited on 12/24/09 at 6:12 pm
Posted on 12/24/09 at 6:32 pm to Zilla
quote:
I didn't like the idea of the fed easily getting your fingerprint just for cashing a check....I thought all banks scanned actual images (including the print) and sent to the fed, daily...but I have since discoverd it's just the micr numbers
Your finger print is the only one sent to the FBI daily, fwiw......
Posted on 12/24/09 at 6:33 pm to LSURussian
Merry Christmas to you and your familiy Russian
This post was edited on 12/24/09 at 6:34 pm
Posted on 12/24/09 at 6:34 pm to Zilla
You, too, Zilla. 
Posted on 12/25/09 at 8:54 pm to LSURussian
Very intersting thread. I have wondered since this happened to me several months ago how banks get away with charging a fee to cash a check drawn on their bank. When an account holder opens an acount, the bank agrees to pay checks upon presentation as long as there are sufficeint funds in the account. If the bank refuses to do this with receiving a $5 fee, it seems like they have breached their agreement with the account holder. Even if the payee lacks ability to file suit b/c he does not have a contract with the bank, I can't see why the account holder couldn't sue for bank's breach.
This post was edited on 12/25/09 at 8:57 pm
Posted on 12/25/09 at 10:22 pm to tdg
quote:How is the account holder damaged because someone else has to pay a fee for cashing the account holder's check?
I can't see why the account holder couldn't sue for bank's breach.
Posted on 12/26/09 at 7:10 pm to Zilla
quote:
is that some sort of law ? why don't all banks do it then ?
When I worked for hibernia in 1999 it was normal practice to get a thumbprint for checks brought in by customers who didnt have accts with us. The bank has no way of verifying if your license is real or not. So in order to curb fraudulent checks they started the thumbprint deal. While it may seem like a hassle its nothing more than an attempt to keep banking costs down because if the bank starts losing money due to bad checks its going to eventually drive fee's up.
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