Check cashing fee
Submitted by PaStoneman on Fri, 03/12/2010 - 22:30
I am looking for input on the validity of a bank charging a non-account holder $10.00 for cashing a check written from said bank and cashed at the bank who holds the checking account. It seems fraudulent to me that I must pay to make their note viable to complete the transaction. Any input would be appreciated. I am tired of receiving checks from this bank and having to pay for a service I didn't solicit.
I believe that this is
I believe that this is illegal. You need to contact the banking commission in your state, and let them know what this bank is doing.
I'm under the impression it is illegal, also
A check is just a contract. It's a note from an account-holder which tells the bank to honor funds "payable to."
This would be akin to paying a bill sans 10 dollars for an imaginary "transaction service," without notice.
If it is legal, then tell your check-writer that you charge a $20 fee for all checks written from x bank. This will cover your costs when they collect from you, and the hassle -- plus it gives your check-writer friend the opportunity to know what kind of shenanigans their bank is up to.
Credit Union is the way to
Credit Union is the way to go... their charter binds them to service of it's members which you are when you open any account and they their charter binds them to usury law.
"Human beings with love and compassion are some of the most beautiful creatures in the universe... Those without are a plague on us all."
Find a credit union
in your area. Ask the questions ahead of time.
I gave up all checking accounts, strictly savings now.
Which bank is it?
Let us know so we can avoid it like the plague.
Or better yet, post some contact links so we can let them know we are avoiding them like the plague.
Don't forget folks, we are the customers; without our money, there wouldn't be a bank.
Roanoke, Virginia
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Wow, it is getting crazy
those banksters are really getting bold.
Prepare & Share the Message of Freedom through Positive-Peaceful-Activism.
Some banks charged a buck or two
Citibank won't cash anything over 1000. And never a check made on cash. Chase will not honor any non account holders checks written against them. Some you have to put a thumb print on. Seems weird.
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Yeah, right...We have a local bank that requires a thumb print to cash one of their checks. I consequently don't accept a check from that bank. I have never had a problem cashing checks in large amounts under 10,000.00 if the bank has the cash. I just hate to pay the bank to cash one of their own checks. I guess until I find out if it is legal to charge the fee I will have to charge the person writing the check or only take cash.
If you have your own personal
If you have your own personal bank than you should be able to cash it there. Although you will typically have to wait until the next day to withdraw the cash..
"One man with courage is a majority." ~ Andrew Jackson
Yes, That is true
However, I don't have any banking accounts at this time. Although, historically, I prefer to cash checks at the bank of origin as I can immediately determine if there are sufficient funds for the check. I also know our local banks take up to 3 days to pass a check and up to ten days if the bank is not local. I have also heard of checks being returned and accounts made deficient because the deposited check funds were not available.