Who do I owe a returned check to?

Question

I have two banks. I wrote a check from one bank to the other. The check was returned from the bank I originally wrote it from due to lack of funds. So do I owe the bank where I deposited the check or the bank that returned it? I'm confused, neither bank has charged me for the check. I thinking I owe the bank I deposited it into since it bounced back to them. Any feedback would help. Thanks

Answer 1

You owe the payee of the check.  Who is the payee?  was it you?  Did you deposit it into your account?  If so, then the bank you deposited to reversed your original deposit, because your check bounced.  If you cashed the check, I'm sure the teller that gave you the cash will most likely be in touch with you to get the money back.... OR, the bank that you gave the check to could perhaps be re-depositing the check to see if it will clear on the 2nd try.....

Check in a few days with both banks.

Answer 2

You need to call both of your banks and ask them if anything needs to be done.  Most likely, if neither account is overdrawn, you probably got hit with a fee on each and that's it.  It's over with.

Perhaps you shouldn't have 2 accounts.  It's simpler to just keep track of 1.

Answer 3

Usually when this happens you get hit by both banks....the one you deposited the check to would charge you $5 (or whatever their NSF are) and return the check...then the one you wrote the check from charges you for the bounced check. I'm surprised though because when they return a check, they usually send the electronic copy with a letter explaining your charges. Check with your bank, they may have already deducted the fees but may be they were minimal that you haven't noticed? If you do online banking I'd suggest looking into the matter. Its not like banks to let a money making opportunity slide.