Comments on: Verify Funds on That Check Before You Cash It

By: Kel

Kel — Fri, 15 Jan 2010 05:32:13 +0000

I was just informed by US Bank that they will not verify funds unless you are the account holder. This just bites when I need to see if the check is good to let these people who rented from me is good or not.

By: DIANA GONZALES

DIANA GONZALES — Wed, 06 Jan 2010 19:44:55 +0000

I WORK FOR AN ATTORNEY’S OFFICE IN SAN ANTONIO TEXAS. I CALLED WELLS FARGO BANK TO VERIFY FUNDS ON A CHECK WRITTEN TO OUR FIRM AND WAS TOLD THAT THEY DO NOT GIVE OUT THAT INFORMATION. THE ONLY INFO THEY GIVE YOU IS IF THE ACCOUNT IS ACTIVE OR NOT.

By: di5c0rd1a

di5c0rd1a — Wed, 06 Jan 2010 08:42:25 +0000

US Bank’s auto phone teller will only verify an account if the third party holds an account with USBank.

By: JAugust

JAugust — Mon, 14 Dec 2009 23:38:33 +0000

Wachovia will not verify funds either. I was told to go to a branch to do so. Um They are primarily an online bank and the closest branch is over an hour away. Sucks because I will not try to cash a $3000 check if I do not know that it is valid.
The laws really suck that we as consumers are no longer protected against this kind of stuff.

By: Mr Wood

Mr Wood — Wed, 09 Dec 2009 19:19:17 +0000

I to could not verify funds on a account drawn on Chase Bank.
I no longer accept checks from any client that has a bank THAT WILL NOT VERIFY FUNDS! It is now Cash Only!

By: Joe

Joe — Sun, 06 Dec 2009 03:44:37 +0000

I just went to a TCF Jewel Branch to cash two checks. They informed me that their limit is $250, unless I open an account with them. I politely declined to open an account, and asked them to verify funds. No luck there either, stating privacy concerns.

For a second I thought I was on candid camera.

On their website it states that they do verify funds for a third party (which by the way makes a lot of sense). As an apartment building manager I get my fair share of bounced checks.

By: Brit

Brit — Thu, 03 Dec 2009 16:25:48 +0000

Wells Fargo will only verify an account is valid they will not verify a check is good or has funds unless you take the check into the bank..

Prior to that Wells Fargo use to have a 900# pay per call line to verify funds but as most businesses and phones have 900 block and merchants complained they did a way with that and now offer no verification at all..

Welcome to the 21st Century Wells Fargo

By: Teri

Teri — Tue, 25 Aug 2009 02:25:35 +0000

I went to US Bank about two weeks ago to have them verify a rental deposit/first months rent check that I was going to cash on the spot (since the tenants wanted to move in on the 15th). They told me they could not verify it unless they tried to run it through, and since I wasn’t a US Bank customer, there was a $5 charge to do so. Same with Bank of America – $5 charge and they won’t verify without running it thru. Banks have started doing it this way because when they attempt to run it thru and the funds aren’t there, they still get to charge the check writer a bad check fee. And, you end up paying the $5 charge and may or may not walk out of there with any cash.

By: Nhut Truong

Nhut Truong — Thu, 28 May 2009 17:45:52 +0000

A credit union in Wisconsin also refused to verify fund over the telephone. The banker requested that I either came in in person or fax in a copy of the check. Didn’t they know that not all people would have a fax machine. I was over 50 miles away from the credit union physical location, so get there in person is not possible.

In my opinion, the credit union is responsible to protect their clients financial data, however, by refusing the verification of a check written in the name of their institution, the credit union is also unintentionally committed fraud as they are encouraging their clients to go ahead and issue bad checks as their clients are now known that the bad checks wouldn’t be verified.

You did great on this issue, please keep on doing what you have done.

Regards,

Nhut Truong

By: Chase BM

Chase BM — Tue, 12 May 2009 21:50:40 +0000

I am a branch manager at Chase and it is the bank’s policy not to verify funds on a check over the phone. However, like it is stated above, you can verify funds in person. You may have contacted a rogue branch or two that wasn’t familar with this policy. And like someone else said, if you always work with the same person on that branch then they may extend that courtesy to you on an exception basis.

By: Bailey

Bailey — Tue, 12 May 2009 19:18:18 +0000

Wells Fargo will NOT verify funds, only that the account is valid and open. Their policy regarding such is here: https://www.wellsfargo.com/biz/help/verification.

By: Dave

Dave — Tue, 12 May 2009 17:04:27 +0000

I should have done what MyJourney suggested a few months ago. I got burned by a previous employer of all things.

How you ask? Well, in 2008 I was part of a downsizing. Not that big of deal really, b/c I had other reasons to quit. But part of the severance was getting the bonus for the % of the year worked (roughly 50% of what I could have gotten if I had stayed). Time passes and here in Feb 2009, I get that promised check. Within a few days, I deposit the check.

Here’s the kick in the teeth. Not 3 days after I deposited it, my ex-employer filed for bankruptcy. The bank then came back, withdrew the “given” funds”, and hit me with a bounced check fee. Took about a month to find someone to remove that fee. Luckily enough my wife and I didnt -need- that money. But if we had been less careful in general that stunt could have caused major problems.

By: JayInDC

JayInDC — Tue, 12 May 2009 16:16:28 +0000

I routinely call Bank of America to verify funds available on my tenants’ checks, never had a problem, maybe it depends who you talk to and whether or not you give a reason.

Also, I used to always just cash checks at the bank they were drawn on, but I have found that in the past few years most banks have changed their policies so that a fee is charged (usually $10 or more per check) if the person cashing the check does not have an account with them. I couldn’t believe it the first time this happened to me.

By: MyJourney

MyJourney — Tue, 12 May 2009 14:40:26 +0000

Smithee,

My Pops is a landlord and he has been burned SO MANY times with bounced checks, after witnessing this for the 90th or so times, I just asked, “why not just verify before depositing?” He had never thought of it!

Good advice.

Also another trick is…cash it at their bank, right on the spot after verifying. Then bring the cash to your checking account where it will credited right away. It may take a few mins longer, but at least you know all is safe.