Quote:
Originally Posted by DAVES
It is all clearly confusing. Sort of in the same mess. you get a check a Florida check, time is longer for out of state checks. Your bank by law must clear that check in two days, you can use that money. If, the check bounces they will charge you back the money plus a roughly $20 fee.
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When a bank issues a stop payment order, they immediately post the check information into a national database that anyone who cashes checks has access to. This is official notification that the check is void and cannot be cashed. So, if someone cashes the check after it has been posted into the database, they are stuck with the loss.