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    hlcask's Avatar
    hlcask Posts: 5, Reputation: 1
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    #1

    Oct 3, 2013, 02:20 PM
    Can I request that a Bank hold a check until funds are there to clear the account
    I was paid $14,000 for a vehicle. However there is insufficient funds for this check to clear. Can I ask the bank this check is drawn on to hold it until there are enough funds to clear the check?
    Wondergirl's Avatar
    Wondergirl Posts: 39,354, Reputation: 5431
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    #2

    Oct 3, 2013, 02:22 PM
    It's your account?
    odinn7's Avatar
    odinn7 Posts: 7,691, Reputation: 1547
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    #3

    Oct 3, 2013, 02:22 PM
    I may be looking at this incorrectly but can I ask why you accepted $14k in a check to pay for a car?
    hlcask's Avatar
    hlcask Posts: 5, Reputation: 1
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    #4

    Oct 3, 2013, 02:26 PM
    Quote Originally Posted by odinn7 View Post
    I may be looking at this incorrectly but can I ask why you accepted $14k in a check to pay for a car?
    He is a friend.
    hlcask's Avatar
    hlcask Posts: 5, Reputation: 1
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    #5

    Oct 3, 2013, 02:30 PM
    Quote Originally Posted by Wondergirl View Post
    It's your account?
    No. I want to deposit this check in my account but do not want it to bounce. Can I ask my bank or the bank the check is drawn on to hold this check for payment, once there are sufficient funds in his account?
    Wondergirl's Avatar
    Wondergirl Posts: 39,354, Reputation: 5431
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    #6

    Oct 3, 2013, 02:34 PM
    Quote Originally Posted by hlcask View Post
    No. I want to deposit this check in my account but do not want it to bounce. Can I ask my bank or the bank the check is drawn on to hold this check for payment, once there are sufficient funds in his account?
    I wouldn't deposit it yet. How will you know when there are sufficient funds in his account?
    hlcask's Avatar
    hlcask Posts: 5, Reputation: 1
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    #7

    Oct 3, 2013, 02:38 PM
    Quote Originally Posted by Wondergirl View Post
    I wouldn't deposit it yet. How will you know when there are sufficient funds in his account?
    That is the purpose of my question. If requested by me, will a bank hold a check until it can clear the account it is drawn on?
    Wondergirl's Avatar
    Wondergirl Posts: 39,354, Reputation: 5431
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    #8

    Oct 3, 2013, 02:41 PM
    Quote Originally Posted by hlcask View Post
    That is the purpose of my question. If requested by me, will a bank hold a check until it can clear the account it is drawn on?
    Why would you even bother unless your bank is far away and very inconvenient to get to. Isn't it easy enough for you to wait?

    I'm guessing they would say no and would tell you to hold it. They like to move things along.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #9

    Oct 3, 2013, 03:24 PM
    Maybe if this was a small local bank where you are a valued customer. But otherwise its highly unlikely.
    hlcask's Avatar
    hlcask Posts: 5, Reputation: 1
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    #10

    Oct 3, 2013, 11:44 PM
    I guess I could call his bank to see if there are enough funds to cover the check, and keep calling until the funds are there. He runs a car business through a personal account.
    Curlyben's Avatar
    Curlyben Posts: 18,514, Reputation: 1860
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    #11

    Oct 4, 2013, 12:22 AM
    Realistically this isn't going to happen.
    WHy on earth did you accept a cheque you KNEW would be a dud??

    If he's such a good friend, get CASH off him in instalments.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #12

    Oct 4, 2013, 03:08 AM
    I would go and demand cash or my car back till he pays the cash. At this point 14K is a felony if the check is bad. This is not a friend if he is giving you a bad check.

    No a bank does not "hold it" they will run it though and change your bank account a fee if it is bad.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #13

    Oct 4, 2013, 04:22 AM
    Quote Originally Posted by hlcask View Post
    I guess I could call his bank to see if there are enough funds to cover the check, and keep calling until the funds are there. He runs a car business through a personal account.
    I don't know if the bank will provide that information. You might have to appear with the check to prove you have a right to know.
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #14

    Oct 4, 2013, 05:50 AM
    The answer to your question is no - the bank will not hold it once you deposiit it. Calling his bank won't help - they won't disclose whether there are sufficient funds or not. However, if you go to his bank to cash it they will check his balance, and if he has sufficient funds they will cash it for you.
    joypulv's Avatar
    joypulv Posts: 21,591, Reputation: 2941
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    #15

    Oct 4, 2013, 05:54 AM
    If you still have the car, this is a no brainer - he gets the car when funds are good.
    If his purpose is to flip the car, that's too long to wait.
    You would let him sell it for you on commission, but you DON'T SIGN OVER THE TITLE!
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