Some Banks Charge Business Customers Merely for Running Checks Throu...

04/22/11

We all know that banks are allowed to charge customers for things that do not cost them anything, but I guess I just assumed that they did this only to consumers. Silly me. 

I just bounced a check. Long story but my dad sometimes shares bank account numbers with nice people who call him on the phone to “confirm” these numbers. After an incident like this, if I learn of it, I close the account and some checkbooks sometimes survive the whole thing. Today, dad’s tailor called to say a check we wrote was on an account that could not be found, and that as a result, she (the tailor) was charged $12 for processing our “bounced” check. Say what? This is a totally new one on me. Anyone else heard of this? I know for a fact that the larger customers do not generally pay these fees, but I am curious what you all know. Bankrate.com, my go-to for things like this, ran one story on these fees, but there is little else out there.  If you are a business and you pay these fees, it’s time to shop for a new bank.

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