I deposit cheque yesterday.
This morning I check still need half a day to process via
ATM.
Tonight I check, the money missing.
Wad happen? The cheque bounce?
I assume your company issue u a chq, and you deposit it
yesterday. I assume it was in your account balance this morning,
but the amount was not cleared for usage. Just now u check, the
amount is gone. Then in this case,this is a bounced chq.
Usually the bank will send u an Image Return Document (IRD),
which is a scanned printed imaged of the chq u deposited, both
front and back. On the IRD, it will indicated the reason why the
chq was "bounced". It can be technical errors like wrong
date, words and figures dun telly, or insufficient funds in
your company's account.
On the IRD, it will also indicated if the IRD can be
re-presented (ie, treat the IRD as a chq and drop into the chq
deposit box). To give u an example, for errors like wrong date,
wrong signatory, the IRD cannot be re-presented. You need to
approach your company and get them to issue a new chq. For errors
like insufficient funds in company account, you too need to notify
your company, get them to ensure sufficient funds in their account,
and then re-deposit the chq.
One forumer posted something about getting back the original chq
and showing it to the boss. No need to do this because you will
have the IRD. And there is a charge of $50 (i think) to retrieve
the original chq. The IRD is good enough.
Lastly, all local banks' hotline (POSB, DBS, OCBC, UOB) is 24
hours.
For posb, 1800-111-1111
