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Generally, a bank may attempt to deposit the check two or three times when there are insufficient funds in your account. However, there are no laws that determine how many times a check may be resubmitted, and there is no guarantee that the check will be resubmitted at all.
Overdraft or insufficient funds fees can be assessed each time the check is submitted. Review your bank’s deposit account agreement for its policies regarding overdrafts and the presentment of checks.
Last Reviewed:April 2021
Please note: The terms "bank" and "banks" used in these answers generally refer to national banks, federal savings associations, and federal branches or agencies of foreign banking organizations that are regulated by the Office of the Comptroller of the Currency (OCC). Find out if the OCC regulates your bank. Information provided on HelpWithMyBank.gov should not be construed as legal advice or a legal opinion of the OCC.
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Check Resubmission and Insufficient Funds: The article mentions that a bank may attempt to deposit a check two or three times when there are insufficient funds in the account. This practice is common, and the number of resubmission attempts may vary across different banks. However, crucially, there are no specific laws dictating the exact number of times a check can be resubmitted. It is at the discretion of the individual bank.
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Overdraft or Insufficient Funds Fees: When a check is resubmitted due to insufficient funds, the account holder may incur overdraft or insufficient funds fees. These fees serve as a penalty for attempting transactions without adequate funds in the account. The article advises individuals to review their bank's deposit account agreement to understand the specific policies regarding overdrafts and check presentment.
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Bank Policies and Deposit Account Agreement: Each bank has its own set of policies and terms outlined in the deposit account agreement. This document governs the relationship between the bank and the account holder, detailing aspects such as fees, overdraft policies, and the process of check presentment. It is crucial for individuals to familiarize themselves with these terms to avoid any surprises or misunderstandings.
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Regulation by the Office of the Comptroller of the Currency (OCC): The article clarifies that when referring to "bank" or "banks," it generally pertains to national banks, federal savings associations, and federal branches or agencies of foreign banking organizations regulated by the Office of the Comptroller of the Currency (OCC). The OCC plays a significant role in overseeing and regulating these financial institutions.
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Legal Disclaimer: The article includes a disclaimer emphasizing that the information provided should not be construed as legal advice or a legal opinion of the OCC. This underscores the importance of seeking professional advice tailored to individual circ*mstances and highlights the limitations of the information presented on HelpWithMyBank.gov.
In summary, understanding the nuances of check resubmission, overdraft fees, bank policies, and regulatory oversight is crucial for individuals navigating the intricacies of banking transactions. Always refer to your specific bank's deposit account agreement and seek professional advice if needed.
