Can the bank change the funds availability policy for a business checking account?
Generally, a bank can change the funds availability policy of a business checking account as long as the bank notifies account holders at least 30 days before implementing a change to the bank's policy. Exception: Any […]
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My bank refused to open a Negotiable Order of Withdrawal (NOW) account for my business. Why?
For-profit organizations (e.g., corporations, partnerships, associations, business trusts) are not eligible for NOW accounts. A NOW account is an interest-earning bank account with which the customer is permitted to write […]
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My bookkeeper handled all of my business's deposits and balanced the monthly statements. He stole some checks payable to the business and forged the endorsement, which the bank honored. What can I do?
Alert your bank to the fraudulent transactions. Even when a bank pays a check with a forged endorsement, it is the account holder's responsibility to review the account statements and notify the bank of fraudulent […]
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