If my bank lost a check I deposited what can I do.. this check was returned once by the bank for NSF?
I deposited the original check in Aug, the check bounced and USAA (my bank) sent a copy of the check back to me with a letter saying this copy could be used as a legal check. Last week, I verified the guy had funds to cover the check and sent it in to USAA. They have records of recieving the FEDEX package but then the check disappears. So far no one knows where the check is (it has been 5 woking days). Initially the superviser told me I should probably just get a new check from the guy I sold my boat to, however, I have not been able to contact him in over three weeks (he is in Key West and I am in GA). The check is for 11k and I am fairly nervous at this point. I know there are legal ramifications for bouncing a check for that amount but isn't USAA responsible losing the check? I would really rather settle this with them as I don't have the time or money to work a lawsuit in Florida. Thanks for any help or suggestions
- 1 decade agoFavorite Answer
USAA is the receiving bank and the one who lost the check. the onus is on them, make a written request and talk to the branch manager. they usually have a microfilm copy of all outward checks for clearing. once a photocopy of lost check is secured they will just have to certify it as true copy and 2nd present it for clearing. they should coordinate it with the drawee bank (the guy's bank) as certified true copy of the lost check who then confirms it with their client or the guy you sold your boat to.
- 5 years ago
Since checks have a relatively short shelf life, usually what happens is the check gets cashed and put into an escrow account. This protects both parties since both parties need to agree to distribution of the balance of the escrow account (of course, if there is a dispute over some contingency and cancellation of the contract, it can get messy). Call the agent and ask which bank he opened the escrow account at (realtors usually work with the same bank for all transactions).
- m bLv 51 decade ago
If you go the route of getting a new check, insist on a cashier's check. As for a remedy of the bank, you will be getting a big run around, might need to start lining up a lawyer.