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What can you do with an uncashed check from a closed bank that is an inheritance?

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2013-02-26 04:04:32
2013-02-26 04:04:32

In theory, the estate's account cannot be "closed" until all assets are distributed, even though it may take years to track down beneficiaries and deliver the checks. Because the value is still "in the estate", the check on the closed bank should be exchanged for a valid one on another estate account, perhaps opened for the specific purpose of the final disposition. The executor/administrator may be personally liable for the amount of the check if the estate can't seem to find it.

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An uncashed check usually says to cash within 30-90 days. After that time, a bank does not have to honor it. However, it can choose to do so.

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Writing a check on a closed bank account in Michigan is considered a felony offense. A person may be sentenced to up to 2 years in prison and/or $500 in fines.

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I went to my bank to get check to pay my rent for the month. The bank accidentally gave me a check from an account which was closed over 5 years ago instead of my active account. I didn't notice the account number on the check. So I used that check to pay the rent, but the check bounced because it was from a closed account. Now the apartment company billed me $140 because of the bounced check. Should the bank have to cover that $140 bill because they are the one's that made the mistake with the check?

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Writing a check on a checking account that is closed/inactive is a crime. Customers are not supposed to do that and if they do, the bank can report it and take legal action against the offending customer. The customer can be fined or jailed for doing so.

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You cannot access a closed bank account. Only the bank and the law enforcement authorities of a country have access to closed bank accounts.

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Your friend should phone, or visit, her bank branch. Only they can say why the supplier thinks that the account is closed.

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Yes. Writing a check on a checking account that is closed/inactive is a crime. Customers are not supposed to do that and if they do, the bank can report it and take legal action against the offending customer. The customer can be fined or jailed for doing so.

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You may be fined by the bank for writing a check on a non-existent account. Plus, the person to whom you gave the check can sue you for the money and for which you can be arrested and jailed. Writing a check on a closed account is illegal and you can be jailed for the same.

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it is not included since the bank is already closed

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Yes, the bank is closed on a federal holiday.

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No, Associated Bank is not closed on Veterans day.

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Yes, the bank is closed on President's Day

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does bank of England have mandatory rules for inheritance funds

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Online banking is easier than visiting your bank. You can pay bills, transfer money, or check your balance even if the bank is closed.

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If you knowingly deposit a check from an account that is closed, you are committing fraud. Because the bank is thinking that you are trying to inflate your account with money that isn't there, a process that is known as check kiting.

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That person that cashed it can be charged for fraud. You must contact the bank concerning this.

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It means the account that the check was drwan on has been closed. Whoever wrote the check went to the bank, closed the account without providing a list of outstanding checks, and took whatever cash was left in the account. Unfortunately it makes the check you're holding worthless... but if you are located in the US (not sure about other countries) it is considered bank fraud and is a federal offense. Contact an attorney.

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This depends on when a check is presented to the bank. If a check is in the process of being cleared by the bank when a person dies, it will most likely still be deposited into the bank account. However, once the bank receives official notification, such as a death certificate, the account is closed or transferred to the beneficiary.

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No. Once a bank account is closed, the account number remains unused by the bank for seven or more years (it varies by individual bank). You may reopen a new account with the same bank, provided the first account was not closed by the bank for improprieties perpetrated by you.

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Fees charged by a financial institution for return of a check (whether because of insufficient funds, closed account, etc.) are generally recorded as "Bank Fees" debit in the General Ledger. If someone gave you a check that bounced but you later collect the check amount and the bank fee, record the bank fee received as a credit in the "Bank Fee" category.

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It's definitely a crime, whether it classifies as a felony offense or not, can depend upon the dollar amount of the check you write.

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Actually such a scenario wouldn't occur. When a bank account is closed, the bank would release all the funds held in that account to the account holder on the same day the account is closed. Even if they can't do it immediately, they would have sent a check to the customer by post/mail. Banks cannot hold on to the funds of a bank account that was closed. It is mandatory for them to return the funds to the customer once his account is closed.


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