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What happens if you make a mistake and write a check for more money than you have in your account?
Wiki User
∙ 13y ago
Two main things can happen:
1. The bank will pay it, and charge you a fee for being overdrawn (this will depend on the type of account you have, and maybe how much it is for).
2. The check will bounce (will not be paid).
Wiki User
∙ 15y ago
Wiki User
∙ 14y agoIf your asking if you take more than what you have in your checking account then it is just like what happens when you take more than a peny over on your credit card. They charge you and you owe them money. That is how they make money because people are always overdrawing!
Wiki User
∙ 13y agoThe bank will charge you a non-sufficient fund fee in addition to the amount that they are going to pay the person/company. For example let's say you have $35 left in your checking, but you write a check for $55. The fee is $35 for the bounce check and $20 extra to pay the person/company. Your account will be negative $55 until you get paid again.
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What happens when you cash a check someone wrote but they don't have money in they account?
The check rebounds on the sender... And their account gets charged.
Can you keep money deposited into your bank account by mistake?
You are responsible for any money that is present in your account. If you feel some transaction (a deposit) has happened in your account which you are not aware of, you must notify the bank of the same. If you happen to hold on to this money and it so happens that this money was being used by terrorists and they put it into your account by mistake, you will also be in trouble. So it is better if you intimate the bank reg. this.
What can you do if a bank puts money in your account by mistake?
put it in my account.
What do you call it when your check gets regected because there isn't any money in your account?
That is a bounced check and it will cost you money in fees levied by the bank and the bank of the person or business you wrote the check to. Each day your account is in the red the more money you will owe in fees. It is also illegal to write a bad check so there can be legal consequences. One bad check is a mistake, but more than one can be seen as a pattern. I suggest you get money into the account as fast as you can.
What happens when the bank puts a deposit in the wrong account?
They will research it, and if the deposit was put into the wrong account they will debit the account it was put into and credit the account it was supposed to go into. It is important you fill out your deposit slip accurately because that is the record of where it should have gone. If that happens, all parties involved will be notified by the bank. The bank will revert the transaction if the mistake was on their part. If the incorrect transfer happened because of the customers mistake in providing accurate account numbers, the bank would not revert the transaction.
Can you deposit someone's else's government check into your account?
No. first of all, a check can be deposited into the bank account of the person to whom the check has been written to. Second of all, even if the bank teller accepts the check by mistake, it will not be cashed. The check will be returned and no money will be paid. Moreover, if the owner of the check complains that his/her check was lost or stolen, you will be caught and jailed for it. Depositing someone else's check into your account is a crime.
What happens when paying with a debit card?
The money is immediately withdrawn from the account it is connected to. It is pretty much the same as writing a check. If there is not enough money in the account, you will either be denied, or have to pay overdrawn fees.
Can you deposit a check into a savings account?
No. A check can be deposited only into the account of the individual to whom the check is made out (issued) to. Depositing it into someone else's account is not allowed and even if done by mistake, the check will not be cashed and no payments will be made.
What happens to your money if you forfeit a deposit?
There will be no money in the account
What if someone pays money into your account that is fraudulentare you responsible to pay it backis the bank allowed to hold on to your money?
Yes. You are responsible for any money that is present in your account. If you feel some transaction (a deposit) has happened in your account which you are not aware of, you must notify the bank of the same. If you happen to hold on to this money and it so happens that this money was being used by terrorists and they put it into your account by mistake, you will also be in trouble. So it is better if you intimate the bank reg. this.
Can you overdraft account with no money?
Yes, any check you write on an account with no money is a overdraft.
What is it called when banks record which account gives up money and which account receives money when a customer writes a check?
Check Clearing
