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Is it against the law to write a payroll check with no money in account?
Wiki User
∙ 11y ago
Yes, it is against the law to write any check knowing that there are not sufficient funds to cover the amount. If you have been given a payroll check that was not good then you can appeal to the labor board in your city/state to recover the amount plus damages (any bank fees you incur etc.).
Wiki User
∙ 11y ago
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How do you earn money for a savings account?
You can earn money by receiving a payroll check, birthday/ graduation money. Any way you may receive money. You then put money in your savings account to accumulate interest to use on a rainey day
Are checks written by a depositor and paid by the bank?
Yes, a person with a bank account (a depositor) can write a check against that account for a sum of money. The person given the check (who the check is made out to) then presents it to their bank and the banks between them move the money from the account of the person who wrote the check to the account of the person who was given the check.
If there is no money in a checking account can you cash a check?
There are a couple ways to answer this question. 1) IF A CHECK IS WRITTEN OUT TO YOU.. and you would like to cash it but have no money in YOUR account: Unless it is a government check or a payroll check you will not be able to cash it. Most banks now require you to provide your Social Security Number when cashing it instead of your account number (since there is no money in your account to "hold the check" against.) IF you still need to cash it you can always bring it to the bank that it was "drawn off of" on every check it says what bank that persons account is at. 2) IF A CHECK IS WRITTEN YOU TO YOU.. and you would like to cash it but the person whose account it's coming from does not have enough money (or no money) you'll still be able to cash it, however the person whose account its coming from will be hit with an overdraft fee. Also, when you bring it to your bank to cash it and it is "drawn off" a different bank the money may be drawn out of YOUR OWN account. Banks dont like giving out money for free. I highly suggest you bring it to the bank it was drawn off of to avoid any problems. 2) IF YOU WROTE OUT A CHECK.. and dont have enough money in your account the check might go through, but you will be hit with a big overdraft fee for going below $0.
Can you issue a check from Money Market account?
It depends on the specific account you have, so make sure to check with your bank. Generally though banks will allow a few (5 or so) checks to be written against the account.
Why is a travelers check considered money while a written check against a trasaction account is not?
Travelers checks are verified or guaranteed funds. To receive travelers checks, you must purchase them. This means the money has been provided up front and so the person who is receiving the check (as long as the check is not counterfeit) knows the check is good. Funds have already been collected by the issuer of the check (e.g. American Express), so you do not have to worry about insufficient funds. A check written against a transaction account is a promise to pay. You are legally required to have enough money in your account to honor any check you write, but that does not necessarily mean that you have or will. (Although you should not,) It is possible write a check against a transaction account that has not enough or even no money in it - there is no way for the person who receives the check to know that it is good until up to several days after they have deposited it.
What happens to the direct deposit of my payroll if my house is foreclosed?
Nothing happens. You still get the money in your account. They just want the house, not your money.
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
What is expected of the employee with a sage payroll?
The Sage payroll card is basically the same thing as a direct deposit account. An employer, rather than depositing an employee's paycheck in a bank account, can deposit the money into a Sage payroll card. The employee will just have to complete an authorization form to begin this service.
Who is responsible for a bounced check?
The person who owns the account. If you use an account that is not yours that is stealing and is against the law for identity theft, fraud, and could bring you jail time. If it is your account and the check bounces you owe the money for the amount of the check and the fees from the bank. A bounced check can run as much as 50.00 in fees.
Do i need to have money in my account to pay with check?
Yes you do or theres nothing for you to have a check and every check requires money.
What does it mean to cash in a check?
Cashing a check means converting a instrument of money like a check to the money it is worth. Let us say you get a check for $1000 from a friend and you deposit it into your account with your bank, you will get the money deposited into your account. This is called Cashing a check.
