My first bounced check on an Ebay sale

Barry

I deposit a check on 9/30. Mail coin Oct 7 AM. On Oct 7 PM, get an email:

hello barry! i just thought i would inform you, my bank has returned the
check i paid you for this item with! even after i deposited a $4500.00
check last friday! they can't give me a reason why it happened other than
a clerical error! so, if you can and will, will you run the check back
through again and let me know about anyadditional charges that i may owe
for my banks neglegance?? let me know if this is going to be a problem and
i'll just send you the cash. it is really embarrasing to me, but then
again, it wasn't my fault. let me know what you want to do and i'll make
it good! sorry!

As of today, I still haven't heard from the bank, so I call them. Sure enough, check was returned NSF, and I'm dinged an additional $10 fee. Fortunately, the buyer seems on the level. Has 100% positive feedback as a buyer. When I get the check back, I'll redeposit it. Hopefully, all will work out OK, and even if not, it wasn't a big sum. Surprisingly how slowly the bank works - a full week...

Russ

<< <i>Surprisingly how slowly the bank works - a full week... >>



It can take even longer than that. I once had an NSF check hit a full two weeks after I deposited it. And before anybody says it, no, this check21 thing is not necessarily going to make it any quicker.

Russ, NCNE

thebeav

Hi Barry,
It sounds like you have a straight up seller....I wouldn't be too worried......
Paul

mrearlygold

Yow!


Tom

MICHAELDIXON

We had a check from one of our auction customers come back once for NSF. It was a $13k check! The bank president called and asked us to run it back through and he would personally reimburse us any bank charges. The president said the guy was one of his biggest clients and he didn't want to lose the guy's business over their clerical error.

Peaceman

I wait 10 days for 1st timers......

topstuf

Ten WORKING days. Add in coffee breaks and loafing.

Net: year an a half oughtta be safe.

jdimmick

Obviously the guy should be more careful writing checks with funds not sitting clear in his account, but as someone said, looks to be an honest error and he is willing to make it right.

jim

BeeMan

There was an article in my local paper yesterday about the speeding up of check clearing in the coming months. If you are still receiving cancelled checks from your bank now, you will not be very soon. The turn around time for checks could be as fast as one or two days. My bank already just sends a page with small pictures of the checks I wrote that month with my statement. Sending a check out before the money is actually in your account will no longer work.

mercurynut

So far none for me yet! I will keep my fingures crossed!

ldhair

It would be nice to see money from checks move a bit faster.

Online I see a bad check hit in 7-9 days. By mail it's about 5 days more.

islemangu

I had one bounce after mailing coin. No email response and on ebay status had changed to "no longer registered user". Had decent feedback too or else would not have sent coin. Was cheap coin so worth the loss in a lesson learned.

mrearlygold

My bank already just sends a page with small pictures of the checks I wrote that month with my statement.



Yah mine does too. I hate it.

I'm really getting old I guess.......


Tom

Barry

My bank hasn't sent the checks back for several years. It took a little getting used to at first, but it's no big deal. I've been doing all my checks, etc. through Quicken since DOS days, including reconciling the accounts online. Major time saver, especially when it comes tax time.

If I want a copy of a check, I have to call or email them, which I have to do once a year, as my mortgage company wants proof I paid my real estate taxes (no escrows for me).

BTW, Legend, I don't understand how an email stripped of all identification could embarass someone.

Dog97

I'm a very sloppy accountant and I bounce checks all the time.
I do stuff like get nsf notices from the bank, scratch my head and look at the deposit that was laying on the dashboard of my truck and has fallen down on the floorboard and my men have stomped all over it and it's covered with spilled coffee stains & cigarette ashes and say "Oh yeah, I meant to deposit that last week."
Or I do a PayPal and my Paypal account doesn't have that much money in it so the rest of it comes out of my checking account and I don't pay any attention that my checking account is now $200 less and I keep on writing checks. When I balance my checkbook if it balances out + or - $500 I call that balanced
My bank just pays the bad checks and doesn't return them but does charge me $30 a pop.
But 1 day 1 will probably get returned and my luck it will be to an eBay seller or a coin dealer on this board and then I'll be sending the expected email saying how embarrased I am and let me make it right cause I'm really a good guy.
Ive never received a bad check from an eBay deal but if I ever do I'll give the buyer a chance to make it right before I slam them because I know what it like to be dazed & confused by a checking account.