Lost a Bank Check in PA, what can I do?

[xirene]

I am in Montgomery Cty, PA. I obtained a bank check to pay my mortgage, and it has disappeared. I have torn the house apart looking for it. I called the bank, and they told me that it is their policy not to stop payment on bank checks. Obviously, it is no good to anyone else, as it is made payable to the mortgage company.
What does PA law have to say about a situation like this? If the check was not cleared, why could it not have payment stopped on it and the money refunded to my account? Are their laws that would apply to this situation, or is it just simply governed by each particular bank's policy?
Any help would be extremely appreciated.

 

[Veronica1228]

I am in Montgomery Cty, PA. I obtained a bank check to pay my mortgage, and it has disappeared. I have torn the house apart looking for it. I called the bank, and they told me that it is their policy not to stop payment on bank checks. Obviously, it is no good to anyone else, as it is made payable to the mortgage company.
What does PA law have to say about a situation like this? If the check was not cleared, why could it not have payment stopped on it and the money refunded to my account? Are their laws that would apply to this situation, or is it just simply governed by each particular bank's policy?
Any help would be extremely appreciated.

I have to admit that I am not familiar with the term, "bank check." Do you know if there is another name for it such as cashier's check, money order, or certified check?

 

[seniorjudge]

I am in Montgomery Cty, PA. I obtained a bank check to pay my mortgage, and it has disappeared. I have torn the house apart looking for it. I called the bank, and they told me that it is their policy not to stop payment on bank checks. Obviously, it is no good to anyone else, as it is made payable to the mortgage company.
What does PA law have to say about a situation like this? If the check was not cleared, why could it not have payment stopped on it and the money refunded to my account? Are their laws that would apply to this situation, or is it just simply governed by each particular bank's policy?
Any help would be extremely appreciated.

If you are talking about a cashier's check, then that is just like money and if you lose it, it is gone.

 

[Veronica1228]

If you are talking about a cashier's check, then that is just like money and if you lose it, it is gone.

That's not necessarily true. The bank I work at will place a stop payment on a cashier's check, but only if it is lost or stolen.

 

[seniorjudge]

The bank I work at will place a stop payment on a cashier's check, but only if it is lost or stolen.


Ah! So how does one prove that a cashier's check is lost or stolen?

Also, I guess we shouldn't really be treating cashier's checks as cashier's checks any more, correct?

 

[Veronica1228]

The bank I work at will place a stop payment on a cashier's check, but only if it is lost or stolen.


Ah! So how does one prove that a cashier's check is lost or stolen?

Also, I guess we shouldn't really be treating cashier's checks as cashier's checks any more, correct?

My bank will take the customer's word for it if they say it is lost or stolen. However, if the actual payee of the check tries to cash it, we MAY let it go through and then charge back the remitter.

Either way, if the issuer is lying, they will pay for it one way or another.

 

[Veronica1228]

I almost forgot, we also wait 2-3 weeks before reissuing the cashier's check or giving a refund. This is what we call CYA (cover your assets)!!!

 

[Debt Guy]

Note for seniorjudge

Cashier's checks are not what common wisdom says they are. There are many very high quality counterfeits out in the wild today.

A wise person will treat a cashier's check like a personal check until they confirm all the details of the check (amount, remitter, date, signature, color, size, routing/transit etc.) with the issuing bank. Even then, there is still vulnerability since it is common for a counterfeiter to use a real check as a "go by" in creating the counterfeit.

The only reasonably safe practice is to fax a copy of the check to the issuing bank and ask them to fax back a statement that the check is valid and will be honored on presentment. Even then, you might end up in a lawsuit trying to force payment.

All this comes for hard earned personal knowledge.

 

[seniorjudge]

The only reasonably safe practice is to fax a copy of the check to the issuing bank and ask them to fax back a statement that the check is valid and will be honored on presentment. Even then, you might end up in a lawsuit trying to force payment.

Interesting.