Provided by the Bucks County Department of Consumer Protection:
Q. My grandchildren are getting older now and are living all over the United States, so this year I decided to send them all money in the amount of $500 instead of sending gifts for Christmas. I purchased cashier’s checks and mailed them all out right before the holidays. One of my granddaughters, who attends college in Washington D.C., called me and informed me that she had yet to receive the check. I went to my own bank to get all the cashier’s checks, so I went back to my bank to see if they could reissue me a check right away. To my dismay, they refused. I don’t understand. Why can’t they cancel the first check and issue me a replacement on the spot? – L.G., Richboro
A. Typically, a bank will not reissue a cashier’s check within 90 days of issuance of the original check. A bank employee “guaranteed acceptance” (verified that you had the funds to cover the check amount) of the original check when it was issued to you. However, as the payee on the check, you should be able to make a “declaration of loss” via your bank, asserting a claim that will become enforceable past the 90-day window from when the check was issued.
Advertisements
A sample of this form can be viewed online at http://www.bankersonline.com/forms/lost.html
Consumers who feel that they have a legitimate complaint with their bank should always begin by contacting the bank manager in an attempt to resolve any issues. If you cannot come to an agreeable resolution there then they should contact the Pennsylvania Department of Banking at 1-800-722-2657.
For additional consumer tips and informational brochures please visit us online. You may email an investigator at consumerprotection@co.bucks.pa.us or call 1-800-942-2669 for any consumer related questions or concerns you may have.
