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Redepositing a check
August 17, 2022
Q. We deposited a tenant's check but it was rejected because of NSF or because it was unauthorized. The tenant resolved the issue and asked us to redeposit the check. What is the best practice for redepositing a check? Can we use the original? Or should the bank send us a replacement image and we use the replacement image to redeposit the check?
A.
(Answered by the IOFM Advisory Panel)
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If a check is returned, there are typically fees associated from the bank in addition to the actual…
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