My landlord cashed my rent check before the funds were transferred into my account (I wire them from one bank to another). The funds will be available by tomorrow or Thursday at the latest, but the check bounced this morning, resulting in the loss of the check amount plus a fee.
My question is: since the funds will be available soon, will his deposit eventually clear, or do I need to issue a new check for him to deposit?
Make quick contact with your landlord to explain the situation. The deposit might clear as soon as funds become available. Check with your bank first, though, and think about writing a fresh check if necessary.
All you need to do is ask your bank if they can reverse the bounced check fee, explaining that the funds were intended for rent. Let them know you plan to pay the rent in full and would appreciate a fee waiver because of the transfer delay.
Hi, Yes If you have already received a check from someone and deposit it into your account and it bounces, the bank returns a copy of the check to you and then you can then redeposit it back into your account ,this is allowed up to 3 times, in these cases the bank will usually charge the depositor which will be you a returned item fee.
Inform your landlord about the situation and explain that the funds will be available soon. Apologize for the inconvenience and offer to issue a new check.
Write a new check once the funds are available in your account to avoid another bounced check and associated fees.
If your landlord incurred any fees due to the bounced check, it’s considerate to offer to cover those fees.