Bank bill pay question

[Commercialfarmer]

Ill know my answer in a few hours, but any of you that are familiar with banking rules know what normally occurs when a check is sent out by a bank bill pay system, and it is stolen or misdelivered and fraudulently cashed by a theif?

Am I on the hook? The individual I paid? The bank? Or does it vary..?

 

[Jogeephus]

My bank won't do that for people. Very conservative bank and suspect its because they don't want the liability. I'm thinking the bank's on the hook for it.

 

[dun]

Very rarely is a paper chekc actually sent. It's normally done electronically. If they don;t get it I would assume you can have the originating bank verify that it was sent and you wouldn;t be liable for any late or none payment charges

 

[Tim/South]

The bank is liable. They may try to crawfish a little, but the ball is in their court.

 

[Commercialfarmer]

Thanks for the earlier replies, I'm in my first couple weeks using this type thing.


Bank referred me to the bill pay organization (I guess it's an outsourced service)- it appeared they are on the hook if something goes amiss. Heard that using them, there is actually increased protection from fraud than using a normal check??... what I hear anyway.


Good thing, I think all is still on the up and up. The lady I spoke with was quite friendly and helpful- a nice change for today's world. She said that they use 3 types of checks (2 predominately) depending on several factors. One they used for smaller amount posts on the day the check is expected to arrive. The second is more like a regular paper check and will post when it hits the bank on return (I believe this gives them more protection and used for larger amounts and other reasons).

So the reason one posted and one didn't is two types of checks were sent, and with holidays and MLK- mail is running quite slow and likely the reason that they haven't been received. Something like that is what I was hoping for.