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When you deposit a cheque into your bank account the series of steps mentioned below follow...
Assuming the cheque you deposited is from Bank A and your bank is Bank B.
1. Bank B collects all the cheques that are issued by customers of Bank A.
2. They would send all these to Bank A for validation, who in turn would send cheques of Bank B deposited with them
3. In Bank A, all the cheques will be validated for their originality and also for funds in the accounts. If so, those cheques would be passed.
4. In the meantime Bank B would have validated its cheques that were given by Bank A
5. Bank A and Bank B would have some calculations and adjust the payments to be made for the cheques issued by its customers.
6. All this happens in 2-3 working days and you would realize the payment.
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∙ 15y ago
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Can you make payment to a collection agency?
Yes.
What are inward documents for collection?
The short versiion... bills that aresubmitted to a bank from another bank for collection and payment.
Can you stop payment on any check?
As long as the check isn't submitted for payment yet, you can issue the stop payment request. But, if the check is already paid the bank will not accept the stop payment. A point to note is that, the person to whom you gave the check can prosecute you legally for doing so because he wont get paid for the check.
What if you stop payment on a check due to the payee saying he lost the check but he cashed the check at a check cashing business after you stopped payment on the check what happens?
The check cashing business will be unable to recover the funds from your bank.
What is a source document for payment payroll?
A check is the source document for the payment of payroll.
What payment options does The Lakeside Collection offer?
The Lakeside Collection offers many credit card payment options like Visa, MasterCard, American Express and Discover credit cards. Another payment option can be money order or check that is mailed toward their address.
Why there is delayed payment of workers?
no collection from contractor
Can you make payment to a collection agency?
Yes.
Can a collection agency refuse to accept a check or money order for payment?
Generally any payment you send will be applied to your account. However if you are trying to send less than what you owe and marking it as "payment in full" or something similar it will more than likely be returned to you.
In Arkansas can a collection agency sue you if the original creditor accepts payment on the debt?
If the debt was sold to a collection agency and the original creditor accepted payment AFTER the debt was sold, the money does not belong to them. If, however, you paid the debt and it was mistakingly sol after that payment, the collection agency can't try to collect. If you have proof of payment, forward it to the collection agency and deman in writing that they cease trying to collect this debt.
Is it legal for a credit card debt collection co to ask for payment over the telephone then ask you for your routing number and checking account information?
It is generally not advisable to provide routing number and checking account information over the phone to a debt collection company. It is important to verify the legitimacy of the caller and the debt before making any payment or sharing sensitive information. Consider asking for the request in writing and consult with a consumer protection agency or legal professional if you have concerns.
How do you pay a collection account?
Have the collection agency send a written agreement accepting the settlement or payment amount agreed upon BEFORE rendering any payment(s).
What is a collection situatoin?
A collection situation refers to the process of pursuing payment from a customer who has not made a payment as per the agreed terms. It typically involves contacting the customer to remind them of the outstanding payment and working to secure the funds owed.
What are inward documents for collection?
The short versiion... bills that aresubmitted to a bank from another bank for collection and payment.
When receiving payment from a private insurance carrier check the amount of payment on the EOB with the?
when receiving payment from a privit insurace carrier check the amount of payment on the EOB with the
You had a credit card with Household Bank that went into collection you've been paying the collection company every month for 2 years but your balance keeps going up what can you do?
What is the Annual Percentage rate set at? Are you making more than the minimum monthly payment? Is the collection agency charging any monthly fees? If you are making a $10.00 a month payment and the finance charges are $8.00, only two dollars is being applied to wards the balance, each month. Check to see how much of your monthly payment is going to the finance charges and then increase your monthly payment to cover the minimum monthly payment and finance charges.
What is the mininmum payment for collections?
There is no "minimum payment" really. Any payment you send will be applied to your balance, however, most collection agencies will only agree to a payment arrangement if it meets their schedule to be paid within a certain time frame. If you are paying less collection activity would continue on your account.
