pjepanther
Junior Member
What is the name of your state? California
My bank closed my business account, but I still had a check that came to my business. I converted the check to a draft in my name. The bank said it was fraudulent. I asked them how it could be fraudulent, because I can't steal money from myself. They said I should have just endorsed it and closed my account anyway.
Now, my client says they will cut me a new check in my name, but not until they get the money back. I have been going back and forth with my bank trying to get them to send the money back from the original check. The client's bank sent a hold harmless letter a month ago via certified mail. The bank claims the letter hasn't gotten to that department yet. Then they ask me to get a copy of the letter and fax it to them, which I do.
They finally admit that they received the letter, but now they are saying they will not cut the check back to my client for 25 days. My questions is, can they legally hold on to this money for 2 months after it has been requested back? If not, then what law or institution can I threaten them with to get them to cut the check sooner?
Thanks,
Guy in Banking Hell
My bank closed my business account, but I still had a check that came to my business. I converted the check to a draft in my name. The bank said it was fraudulent. I asked them how it could be fraudulent, because I can't steal money from myself. They said I should have just endorsed it and closed my account anyway.
Now, my client says they will cut me a new check in my name, but not until they get the money back. I have been going back and forth with my bank trying to get them to send the money back from the original check. The client's bank sent a hold harmless letter a month ago via certified mail. The bank claims the letter hasn't gotten to that department yet. Then they ask me to get a copy of the letter and fax it to them, which I do.
They finally admit that they received the letter, but now they are saying they will not cut the check back to my client for 25 days. My questions is, can they legally hold on to this money for 2 months after it has been requested back? If not, then what law or institution can I threaten them with to get them to cut the check sooner?
Thanks,
Guy in Banking Hell