Any bankers here?

[SilenceS]

I dont know if we have any posters who work for banks, but I was looking for some answers. So, I play on Bovada and I just recieved a check. It was for a decent amount of money. I went to deposit it into my bank and my bank told me they have to send it to collections. The check is from Canada and the bank from Canada seems to be a very well respected bank. Why do banks do this? Are they nervous is could be a fraudulent check? Or is it just to cover their ass? They told me it would take 10 to 14 days. It seems the bank manager made the decision on this. Im not exactly happy about the delay, but at least, they didnt try to get nosey and ask me what the check is for. They would have got a very mean answer back towards them.

 

[xer0h0ur]

Any sort of international bank payment by check is going to take a long time to process. Banks cover their asses.

 

[Ares]

HHM/Prope work at a bank IIRC.

If a check is for a sizeable chunk of money I think all banks just have standards that wait for the funds to be verified.

Otherwise if you could make a good enough fake check.... they accept it... give you the cash.... and by the time they verify that the funds don't exist you are long gone.

 

[SilenceS]

Yea, I am guessing it is because of the size of the check. I deposited a check from the same Canadian bank early last year but it was for a like a 1/4 of this one and they didnt send it to collections.

 

[Scoot26]

I used to be a bank teller. We had to send all foreign checks to our deposit operations department. But we could deposit the check into their account, we'd just tell them it'd take longer than a regular check to verify funds, etc. It didn't happen all that often so I'm not exactly clear on what the procedures were, plus they changed at my bank (for a long time we didn't accept any foreign checks on our end).

 

[Nail Polish]

Ask HHM..He is the only person in America that works Sundays at a bank..lol

 

[Scoot26]

Ask HHM..He is the only person in America that works Sundays at a bank..lol

Except anyone who works for TCF Bank.

 

[Nail Polish]

Except anyone who works for TCF Bank.

What do they do on Sunday, polish the doorknobs?

edit


Holy shit..I just looked em up..Theyre actually open on Sundays..lol

And here I thought HHM was avoiding the meetup with some bullshit excuse

My apologies

 

[Scoot26]

What do they do on Sunday, polish the doorknobs?

edit


Holy shit..I just looked em up..Theyre actually open on Sundays..lol

And here I thought HHM was avoiding the meetup with some bullshit excuse

My apologies

They're one of like 3 banks in the country that are open on Sundays.

 

[Gustavus Adolphus]

HHM/Prope work at a bank IIRC.

If a check is for a sizeable chunk of money I think all banks just have standards that wait for the funds to be verified.

Otherwise if you could make a good enough fake check.... they accept it... give you the cash.... and by the time they verify that the funds don't exist you are long gone.

Prope/HHM are actually a law firm. Like Franklin and Bash, only better looking.

 

[Nail Polish]

They're one of like 3 banks in the country that are open on Sundays.

Amazing what civilization brings...The banks down here just recently started being open on Saturdays...lol

 

[Nail Polish]

Prope/HHM are actually a law firm. Like Franklin and Bash, only better looking.

Shithouse lawyers?

The company web photo

 

[SilenceS]

Where is HHM? I needs his locks of knowledge

 

[HeHateMe]

Where is HHM? I needs his locks of knowledge

It's been quite a while but I believe negotiability of your check is a risk because the electronic funds transfer is not regulated the same as checks drawn off of American banks, and also, there is a currency conversion.

Back in a day, I would have verified the funds and given provisional credit if you were a good customer. Not sure how long it takes these days but it would be like up to three weeks for accounts to be credited for collection items.

Perhaps talk to the branch manager where you deposited the check?

 

[AussieBear]

they do this in oz too. lots of Chinese use to defraud the banks here many years back. it can take longer than 2 weeks at times.

 

[SilenceS]

It's been quite a while but I believe negotiability of your check is a risk because the electronic funds transfer is not regulated the same as checks drawn off of American banks, and also, there is a currency conversion.

Back in a day, I would have verified the funds and given provisional credit if you were a good customer. Not sure how long it takes these days but it would be like up to three weeks for accounts to be credited for collection items.

Perhaps talk to the branch manager where you deposited the check?

I think I did. lol The teller said her manager said 10 to 14 days. They cashed the other check with no problem, but like I said, this one is a lot more. I guess they just want to cover their ass. Or maybe its because they are racist towards whitey's in black trucks!

 

[brett05]

Amazing what civilization brings...The banks down here just recently started being open on Saturdays...lol

Is running water next?

 

[brett05]

SilenceS, was the check for five figures or more?

 

[NCChiFan]

I would also tell the OP, it isn't in the realm of Branch Manager's duty to make the corporate bank policy when it comes to foreign checks and how they're handled. That was a decision made much higher up. The Branch Manager was/is just enforcing the corporate rule. I ran into something similar the other day when my bank wouldn't notarize a title because the vehicle involved was worth too much money. The bank set a dollar value limit on what the bank will notarize due to liability exposure. No big deal, went down to the Title/tag office got it notarized there. Corporate policy.

 

[Ares]

SilenceS, was the check for five figures or more?

It was a 6 figure check.... Silence murdered his wife for the life insurance.... now he ballin' in 10-14 days