Q: What is the law or banking policy regarding checks submitted for deposit and NSF...?
I can't imagine it being a customary practice of any or most banks (as a result of all the fees they would lose); But if a merchant makes a night drop of received checks for DEPOSIT into their account and knows someone at the bank who, as a courtesy- checks the availability of funds BEFORE processing the deposit and returns the check and assesses no fees to either the merchant or the account holder, can the check be considered presented to the bank for deposit? in addition to there being no marks on the front or back of check by the bank, the account holder's account shows NO REFERENCE to the check in any way shape or form-as if it was never presented. Can the merchant claim the check was presented TO THE BANK for processing? Although I am delighted that the bank did not process the check or charge any fees-The policy of the merchant states they can charge a fee for any check PRESENTED FOR DEPOSIT to the bank that is returned due to NSF. The bank has NO RECORD of the check.
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