What should I do if I receive or am paid with a bad check? - Here is the answer

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Checks are still very valuable today, allowing for actions like approving a business check to deposit, make or receive payments, etc. One of the problems that can cause a lot of check-related stress is getting a bad one. If you have received one of these and you don't know what to do, don't worry anymore, today we will answer all your questions under the topic What should I do if I receive or am paid with an invalid check? - Here is the answer.

What is it and what does it mean to receive a bad check?

One of the functions of commercial banks is the dissemination of checks, this being one of the specific objectives and functions of financial institutions to the great advantage of customers.

Speaking specifically of bad checks, it has been established that these are checks that are rejected by the bank of the person who issued the check, for lack or absence of funds requested on the bank account.

When this happens, it is likely because the issuer's account is closed or does not have sufficient funds to cover the amount stated on the check. Likewise, the depositor of the check will not in any way receive the payment and most likely a commission will be charged.

Bad check as a crime

There are many countries that have laws that stipulate the delivery of a bad check as a crime , that in most cases the person has to pay a fine or some other type of penalty for it.

On the other hand, in other countries, although there are no established laws governing how to operate in the event of incorrect checks, the issuer may be accused of committing a crime of aggravated fraud and forgery of commercial documents depending on the region in which this occurs.

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What should I do if I receive or am paid with an invalid check?

First of all, you should know that when an invalid check is declined, the depositor's bank will immediately receive one notifies "NSF" for the reason of lack of funds and immediately the deposit is canceled.

It is at this time that the depositor must proceed to contact the person who issued the check , to make the respective substitute payment and the required bank charges.

In case the check issuer's bank account is still open, receiving the aforementioned notification should not surprise you, as the recipient of the check also received a notification when the invalid check was rejected.

To avoid problems with the payment and this situation from happening again, it is advisable to make the refund payment for the check in cash, money order or any type of guaranteed fund . When notifying the check issuer of the incident, try to find out why the check was rejected, as in most cases it is not intentional.

You should also keep an eye on all requests made in writing through the register with acknowledgment of receipt or certified mail . In case of purchase of goods, however, it is necessary to immediately request the return of the item.

Of course, it is important that throughout the process of requesting payment, you do it with total courtesy, in order to avoid conflicts and perception problems, as well as the accusation of crimes such as coercion or threats.

What to do if you have a problem with the check issuer

If you have trouble contacting the check issuer or the check issuer does not refund within the agreed time, you can take other steps to recover the money from the bad check. For example, you can contact your bank and ask about services related to the recovery of Cheques incorrect , granted by other banking institutions.

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You can also choose to use the laws governing the recovery of money from checks in your country, so you can search local and state websites to find out about yours. rights and actions to be undertaken with regard to the collection of checks.

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