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Banking

Discussion in 'Banking, Finance, Investments' started by denshaf, Jul 21, 2002.

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  1. Jul 21, 2002 #1
    denshaf

    denshaf Law Topic Starter New Member

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    My question is- How many times can a check be ran through your bank account?
     
    denshaf, Jul 21, 2002
    denshaf, Jul 21, 2002
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  2. Jul 22, 2002 #2
    quuen

    quuen New Member

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    you arent really being specific enough for an answer. What kind of check? Are there funds in the account?
     
    quuen, Jul 22, 2002
    quuen, Jul 22, 2002
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  3. Jul 22, 2002 #3
    denshaf

    denshaf Law Topic Starter New Member

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    The check I had wrote was my own checking account. The chack wrote at the time would have been covered. There is no telling yet when they ( Diamond Shamrock Corp.) ran the check through my bank account. The chack was wrote over 4 months ago. I am now just getting a letter from the Corp. lawyer office. They are asking (lawyer office) for $ 133.93 for a $ 5.93 check I wrote.
     
    denshaf, Jul 22, 2002
    denshaf, Jul 22, 2002
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  4. Jul 22, 2002 #4
    quuen

    quuen New Member

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    From personal experience I have seen checks run thru a bank acct as many as 5 times. The $133, they are charging you for most likely has to do with fees they incurred for trying to deposit the check into their acct. The fees usually range from 20-30 dollars a pop. An from what I understand a check can be run thru as many times as neccesary to withdraw the funds promised. Usually for such a small amount, (unless it happens frequently), the bank will accept the check and debit your acct, which will put you into a negative balance, and then charge you a fee for insufficeint funds. Did your bank charge you any fees? I don't think you will be able to do anything besides pay 133, unless of course it was a bank error that caused your funds to become unavailable for withdrawal. Remember a check is like a contract you sign agreeing to pay the amount shown.
     
    quuen, Jul 22, 2002
    quuen, Jul 22, 2002
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  5. Jul 24, 2002 #5
    Michael Wechsler

    Michael Wechsler Administrator Staff Member

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    To some extent the prior post is correct, especially if the fees were reasonable. If the other party had a $10-15 NSF fee every time they put the check through, they would likely be entitled to the costs of processing. What does the $133 comprise of? That might be knocked down in court as being a ridiculous charge for a $5 check... then again, perhaps it isn't so unreasonable. Additionally, you might also be in trouble for writing checks that you know will bounce. A check is a contract as well...
     
    Michael Wechsler, Jul 24, 2002
    Michael Wechsler, Jul 24, 2002
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