What's The Difference ? ?

Discussion in 'Credit Talk' started by lbrown59, May 9, 2001.

  1. lbrown59

    lbrown59 Well-Known Member

    Between a nsf check and a returned check?
  2. Concerned

    Concerned Well-Known Member

    Returned check is not specifiying the reason for the return. For instance, "Account closed", "Stop Payment", etc are all reasons a check could be returned in addition to NSF. NSF is clearly for non-sufficient funds (i.e., you did not have enough funds in the account to cover the check).
  3. lbrown59

    lbrown59 Well-Known Member

    show can they charge you a fee for an unspecified reason?
  4. lbrown59

    lbrown59 Well-Known Member

    ==============================The only thing not legal is the NSF so it is the only one where there is a law to enforce collection of a fee on!
  5. lbrown59

    lbrown59 Well-Known Member

  6. eddie

    eddie Well-Known Member

    Although stop payment checks may not connote illegal activity i.e. it could be a dispute, acount closed is clearly illegal. Writing a check on an account no longer open is a no no in all states.
  7. lbrown59

    lbrown59 Well-Known Member

    ======== =============== ==
    ============= ============ =====

    What about when an account is closed after the check's written?
  8. roni

    roni Well-Known Member

  9. lbrown59

    lbrown59 Well-Known Member

    For what?
  10. roni

    roni Well-Known Member

    I'm sorry. I assumed you knew about this process I was speaking of. If you have an account and a check comes through and the bank pays it, (this is typically for delayed billing items) and then your account is overdrawn. If you dont 0 the balance with the bank.............chexsystem.

    If that is not your situation, I apologize. I had this happen to me when i ordered clothes from chadwicks of boston and like 4 months later the delayed billing hit my bank. I had already graduated college and moved. I had forgotten about it BIGTIME. I owed the bank the money b/c they paid for the charges. I guess they had to b/c i had the clothes already.
  11. lbrown59

    lbrown59 Well-Known Member

    I'm sorry too -I don't think I gave you enough Info.

    Here's the set up

    The bank decided to close my checking account for what ever reason:

    They sent me a check for the balance shown on ther records.

    Only trouble is there were several out standing checks not accounted for in their balance.

    Needless to say the S--- H-- the F-- when these checks were presented for payment:

    My bank hit me the returned check fees on each check and the receiver of each check did the same:

    Hopes this helps,

    Ps ,
    My brothers name is Ronald-but we always called him Ronnie> Must Be A Good name !
  12. roni

    roni Well-Known Member


    I had Fleet/Nationsbank and they closed my account when i was a broke a--
    student. I had been overdrawn like $6 for 30 days and they wouldnot let me deposit $8,000 when my school check came. I was floored. They just closed the account and didnot want my business. I have not dealt with them since.

    I would say that they cant do what they did. But you would have the task of proving that the checks were written after the account was closed. And then someone may stil try to blame you.

    All I can say is what a mess.

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