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This depends on individual bank policy but I believe most banks have a "matching funds policy." This means if there aren't funds in your account to cover the check, then you cannot have all cash for the item. However, if the check is also drawn off the same bank this may serve as a loophole because they would be able to determine if the funds for the check in question are available without relying on the funds you have, or don't have, in your account.
No. It is your account and the bank cannot move funds from one account to another without your approval or rather without you asking them for it.
No. A Stop Payment can be issued on a check only before it is being submitted for clearance. If the person to whom you have issued the check has not yet deposited it into his account or if you have lost the check itself, you can issue a stop payment on it. But, if the check has already been deposited and returned by the bank because of lack of funds, you cannot issue stop payment.
You could, but they may use the amount from the check(s) you gave them to cover the insufficient funds you may owe on the account. Unless you make a deposit prior to cashing the check(s) in.
If a cheque is drawn on an account which has no funds in it then the bank is not obliged to honour it. In fact, unless the account has an agreed overdraft facility they won't honour it.
If you wrote a check when you had no funds in your checking account but had funds by the time the check hit the bank, you are fine. Sometimes it can take a check three days to clear, but not always.
No they cannot. The check can only be honored with funds from the account it was written on.
This depends on individual bank policy but I believe most banks have a "matching funds policy." This means if there aren't funds in your account to cover the check, then you cannot have all cash for the item. However, if the check is also drawn off the same bank this may serve as a loophole because they would be able to determine if the funds for the check in question are available without relying on the funds you have, or don't have, in your account.
It means that there were not sufficient funds in the account to cover the check
Writing a check on an account that does not have the funds to pay the check is illegal. A+
As long as there are enough funds in the account that the check is being drawn from to cover the amount of said check and that YOU would have the legal right to withdraw funds from that account. Yes.
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.
insufficient funds
Below is how banks process a check:Customer A deposits check into his bank account with Bank ABank A accepts the check and sends a request to the check issuing bank, Bank B with details of the check and amountBank B receives the check details and checks if the account linked to the check has enough funds to honor the check and also to see if the signature on the check matches the account holders signatureIf the sign matches and funds are available, Bank B Transfers the check amount into Bank A's account with Bank B and sends an intimation to Bank AOnce Bank A receives funds into its account, it transfers the funds into Customer A's accountSimilarly Bank A would have an account for Bank B to credit funds for checks issued by its customers to customers of Bank B.
No. It is your account and the bank cannot move funds from one account to another without your approval or rather without you asking them for it.
No. A Stop Payment can be issued on a check only before it is being submitted for clearance. If the person to whom you have issued the check has not yet deposited it into his account or if you have lost the check itself, you can issue a stop payment on it. But, if the check has already been deposited and returned by the bank because of lack of funds, you cannot issue stop payment.
You could, but they may use the amount from the check(s) you gave them to cover the insufficient funds you may owe on the account. Unless you make a deposit prior to cashing the check(s) in.