It might vary with the bank. I know that UB imposes a charge when a business lodges cheques that are returned unpaid.
This 4.44 charge is not for the bounced cheque. This charge relates to your account being overdrawn on one occasion. Perhaps the bounced cheque resulted in the overdraw but the charge is not related to the bounced cheque. If you look at your statement you will see when you account was overdrawn and the subsequent charge of 4.44. Remember each day your account is overdrawn (or over your overdraft) that 4.44 charge will occur.
Hi Bank Manager (mmmm)
As far as I know the banks make a charge to the payer rather than the payee as has been done in the past. I think the payer (whose cheque has bounced) will be charged approx 12.50 for each bounced cheque. I have a habit of relodging bounced cheques and eventually the payer pays up because it's costing them a fortune (as I have the cheque to relodge). I reconcile quite a few bank statements and have only come across this 4.44 charge on overdrawn accounts. I will stand to be corrected if someone can prove otherwise.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?