I recieved a check for 3000 dollars from my parents. My bank after 24 days says that the check is no good. my parents have a bank statement saying that the check was paid to my bank. both banks are claiming it is the others fault and their problem. I dont know what to do about this. The 3000 dollars is somewhere and neither bank is willing to budge and admit that they are wrong. at this point my parents and i dont care who made the mistake, just that we find out who has the 3000 dollars. any suggestions on how to procede from here?
1 Answer from Attorneys
Under the "Check 21" law and other federal regulations, your bank is required to investigate and justify not crediting your account within 24 hours. You are probably the victim of the American epidemic of bone-headed stupidity, a problem which afflicts insurers, banks and other large businesses, especially those which are supposed to pay you money. The most practical thing you can do is make a written demand to your bank for the money, and for restoration of any bounced check or other fees which were put on you, and work with your branch manager. You may inform these boneheads that they will have to pay your attorney fees if you have to sue them. Keep copies of all your written demands. Good luck.