The check stamp

[DrFaroohk]

Any of you have that little stamp you have to put on checks now that says "if this chick bounces I agree that $XX.XX will be taken from my account" and the SC has to sign it?

I don't know why soooooooo many people have an issue with that. They apparently think it just means that it lets anyone take money out any time they want. I try to explain it...as long as their check is good, they should have no problem signing the stamp. Or in simpler terms, if you want to write a check, sign the stamp. If you don't want to sign the stamp, don't write a check!

But some people think they're in a courtroom all of a sudden and we're on the set of The Practice.

Grrrrrrrrrrrr........

[mrtauntaun]

I haven't seent his before, but I think it is a really good idea.

[Primer]

"if this chick bounces I agree that $XX.XX will be taken from my account" and the SC has to sign it?

If this chick bounces, there'd better be money going into my account!

Sorry, I hadda...

If the check bounces, how are you going to take money that isn't there? I'm confused. I very rarely write checks any more, so no, I've not seen that stamp.

[Depot Denizen]

We just have a stamp that says "For Deposit Only" and the store/college info on it. Now that I think of it, we are *very* lax with checks. It's scary. Then again, we know where all of our customers (students, staff, faculty) are, so tracking them down isn't an issue.

If this chick bounces, there'd better be money going into my account!

Sorry, I hadda...

If the check bounces, how are you going to take money that isn't there? I'm confused. I very rarely write checks any more, so no, I've not seen that stamp.

Often times when the check bounces, the store will assess a $25 or so fee in addition to the funds. The banks can either let the money be subtracted (putting you waaaaay into the red) or simply stop the payment from going through.

[BookstoreEscapee]

We just have a stamp that says "For Deposit Only" and the store/college info on it.

We had that stamp, too, with our account number, etc. for endorsing the checks. We had to stamp every check when we did the deposit. That was way fun at Christmas time. Then they got the check printer that endorses it for us, but sometimes that gets all kerfuffed so we had to keep the stamp in the office just in case.

Edit: 1,111 posts! Cool

[repsac]

catching up on my reading before crashing for the night and thought I'd share this. It's essentially the step by step policy Moore's had when I worked there. ( I don't fear using their name since the company is LONG gone.)

Customer Writes check. Cashier calls management if check is over 100 dollars.

Manager (JR. Asst. Usually) Authorizes use of check, and takes ID. (Typically a DL number).

Manager Initials check in top corner.

It should all end there, but if the check is bad, the following happens:

1.) Check comes back from the bank, usually marked NSF (Insufficient Funds). If marked "Account Closed" skip to end. Otherwise, go on to 2.

2.) Check is held in the store a full day. Kept in the safe and deducted from the daily float.

3.) After one day ( Actually about 12 hours) the check is again returned to the bank.

4.) Most of the times, the check passed. Situations of paychecks not being deposited on time were the most common problems. IF it passes, management takes no further action.

5.) If the check returns a second time, bank will have marked through the routing and account numbers. This renders the check useless.

6.) If the check is rendered useless, three things happen.

A.) Customer is sent a letter to their home. This is a registered letter for which they must sign. (It usually comes back unsigned).
B.) The customer's name and all names on the check are written down in a log book, along with the ammount owed.
C.) Check is held in the store in the hopes the customer comes in to purchase something else. If that happens, management approaches them about the check and offers them a chance to buy it back for the face value, plus the processing fee. (25 dollars)

7.) If the customer does not return, and the letter comes back, the store will seek judgement in court against the customer. In these cases, it is not uncommon for the stores to be given two or three times the ammount of the check in damages. Usually, however, the customers do not show, and bench warrants are issued. In most states, a first offense is no major deal, but anything more than that is trouble.



NOTE: (This one is worth knowing for all retail associates)

Ever wonder why most places won't accept a check from out of state? There's a rather interesting reason behind it. It's simple really. You see, if you go out of state and write a check, only to have the check bounce; then things become very bad for you. Very bad indeed, for most states have laws set up that make it a felony punishible by several years in prison. The general rule of thumb is, if you're going out of state and need to write a check; if you're not absolutely sure you have the money in the account, don't even TRY to write such a thing. It's not worth the trouble.