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BB&T Corporation Message Board

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  • good_with_the_fish_hook good_with_the_fish_hook Feb 17, 2006 9:11 AM Flag

    Is this Legal?

    This type of check is called an "ON US CHECK". The reason BB&T is going to charge a fee for this type of transaction is to try to offset their losses on such transactions that are fraudulent. i.e. If a crook has some checks printed with BB&T R/T and your account number and then cashes a $100 check at a BB&T branch location, the transaction is posted to your account. When you balance your account and find that the check was written by someone other than yourself, you will contact BB&T and they will refund your $100. Good deal except BB&T is out the $100. On the other hand, if the person cashing the check initially had an account with BB&T then the $100 could be charged back to their account. In fact, I think that a "hold" for $100 could be placed on the account of the person cashing the check until it has cleared.
    Although I am certainly not a BB&T fan, this fee seems reasonable to me.

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