Any bankers able to answer a check code?

lendaddy · 07-16-2012, 03:55 PM

I have copies of some cleared checks and am wondering if there is some way to tell if they were cashed or deposited. I am going to the bank tomorrow and I know they can tell me (or should be able to) but the suspense is killing me.

The only thing I can see that is different from the ones I have that I know were deposited is that these have a "000" or similar symbol hand written near the bottom of the front side where the deposited checks have no symbols at all on them.

peppy · 07-16-2012, 04:45 PM

I don't know about bank codes, but if they were cashed they would be endorsed on the back. '

If deposited then they could have nothing on the back or for deposit only, or been endorsed, or stamped.

lendaddy · 05:38 PM

Quote:

Originally Posted by peppy

I don't know about bank codes, but if they were cashed they would be endorsed on the back. '

If deposited then they could have nothing on the back or for deposit only, or been endorsed, or stamped.

Not exactly, you can endorse a check and still deposit it. You don't have to write "for deposit" on it.

**never mind, I see that you said the same thing

lendaddy · 07-16-2012, 05:35 PM

But yes there were endorsed by name, but so were most of the others which were also deposited. Some were "for deposit only" but not many.

Zeke · 07-16-2012, 05:47 PM

If they were cashed they would most likely have a DL number written below the endorsement.
I'm curious, though. You paid for something so why care how the payee handled the money? You have the cancelled check.

lendaddy · 07-16-2012, 05:53 PM

I don't want to get into the details too far but I am investigating this for an organization. I was not an involved party at the time. I have a ton of time into this and tomorrow should be the payoff when I find out what happened to these particular checks.

JJ 911SC · JJ 911SC's Garage

Triple Secret Probation which is 10 time worse then the Double Secret one (Log Scaling)

epbrown · 07-17-2012, 03:48 PM

Quote:

Originally Posted by lendaddy

The only thing I can see that is different from the ones I have that I know were deposited is that these have a "000" or similar symbol hand written near the bottom of the front side where the deposited checks have no symbols at all on them.

I'm guessing these zeros are either ahead of the routing number or between the account number and dollar amount? If so, the numbers don't mean anything except the institution didn't have a check number.

lendaddy · 04:14 PM

The zero's were an internal code meaning that they went into a savings account. Turns out the bank deposited the funds into some other organizations account 2 yrs ago and no one ever caught it. All has been adjusted/reversed now.

**recovered about $5k so I'm pretty happy about that.

on2wheels52 · on2wheels52's Garage

How disappointing Joel, I was hoping for a money-laundering tip.
But happy you have the answer.
Jim

epbrown · 07-17-2012, 05:42 PM

Quote:

Originally Posted by lendaddy

The zero's were an internal code meaning that they went into a savings account. Turns out the bank deposited the funds into some other organizations account 2 yrs ago and no one ever caught it. All has been adjusted/reversed now.

**recovered about $5k so I'm pretty happy about that.

Ah, so they were between the account number and amount, that's called a "tran code" (transaction code). No one would have been able to help with that, as each bank defines their own codes for that field. Glad you recovered the funds. We're always amazed how long it takes people to notice such errors...

lendaddy · 07-17-2012, 05:52 PM

Quote:

Originally Posted by on2wheels52

How disappointing Joel, I was hoping for a money-laundering tip.
But happy you have the answer.
Jim

That would have been a lot more fun

lendaddy · 07-17-2012, 05:53 PM

Quote:

Originally Posted by epbrown

Ah, so they were between the account number and amount, that's called a "tran code" (transaction code). No one would have been able to help with that, as each bank defines their own codes for that field. Glad you recovered the funds. We're always amazed how long it takes people to notice such errors...

I'm sure, I imagine huge sums get lost in the system this way.

epbrown · 07-17-2012, 06:04 PM

Quote:

Originally Posted by lendaddy

I'm sure, I imagine huge sums get lost in the system this way.

Years ago, we had another institution give us an extra $500k in a transaction. We spent months trying to convince them of the error and they insisted it was right. All we could do was wait - at the end of the fiscal year it always shakes out. The hilarious part is when they demanded interest on the funds (umm, no).

curetonson · 07-17-2012, 07:41 PM

I was not an involved party at the time.