Researching NSF
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Researching NSF (by James [GA]) Jul 11, 2018 12:15 PM
       Researching NSF (by #22 [MO]) Jul 11, 2018 12:59 PM
       Researching NSF (by James [TX]) Jul 11, 2018 2:58 PM
       Researching NSF (by razorback_tim [AR]) Jul 11, 2018 4:59 PM

Researching NSF (by James [GA]) Posted on: Jul 11, 2018 12:15 PM

Hello All -

Just had a NSF on my monthly ACH batch. It has never been a problem in the past to call the bank and simply get a verification of funds. Today I'm call us bank and they are giving me the run around.

What do you do if anything in these situations?

(For more info: This tenant is fast looking uncollectable and phone is out of service. Hope is to process a debit in accordance with our contract as he hasn't paid some utilities that will lien against the property and eat 1/2 the deposit, among unpaid rent.)

Researching NSF (by #22 [MO]) Posted on: Jul 11, 2018 12:59 PM

So, you have the account number, correct?

In the past, people have been able to call and say, "I have check #4555 in my hand for $amount and need to know if there's sufficient funds for it to clear.. they usually would say yes or no. If you need to see if there's a different amount of $$ in there, just call a different branch...

Researching NSF (by James [TX]) Posted on: Jul 11, 2018 2:58 PM

I think banks quit verifying checks over the phone a long time ago.

Researching NSF (by razorback_tim [AR]) Posted on: Jul 11, 2018 4:59 PM

Time to start the eviction.

I occasionally have an ACH return. The good tenants usually call me before I even get notification of the return.

My policy is that they give me a date that I can re-draft, either today or tomorrow for the most part.

If they canít do that then serve the POQ notice just like they never paid to start with.

Repeat offenders have never worked out.

It sounds like this guy has gone downhill and is probably past the point of no return.

It could be that the reason they gave you the run around is because funds arenít there and they canít say that. But they can say that it will clear. I ran into that many years ago with a paper check. I only had one check I would deposit at this particular bank where I and the tenant both had accounts and I would always ask if it would clear at the time of deposit and it was always yes. One day the girl said that she wasnít allowed to tell me whether it would clear or not. I said youíve always told me before why canít you tell me today? She just said she wasnít allowed to tell me today. So I asked if I could cash it - turns out there werenít funds. So they could tell me when there was money but couldnít tell me when there wasnít.

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