Who Is Responsible for a Bounced Certified Check?

A bank holds the payee responsible for a bounced certified check. According to the Federal Trade Commission, "until the bank confirms that the funds from the check have been deposited" into a customer's account, the payee is responsible for any funds withdrawn against that check.

Certified Checks

A certified check means that a bank officer has certified on the check that the amount specified was available when the check was written. The officer also certifies the check signature is genuine. None of this changes the fact that people can create counterfeit certified checks, according to Bankrate.

Availability of Funds

According to the Federal Trade Commission, banks must release the funds from a certified check the day after you deposit it. Federal law requires this. This does not mean a certified check is good, however.

Recommendation

Counterfeit checks represent a big problem in the banking industry. If any doubts or concerns exist about any check, Bankrate recommends waiting until the funds clear before withdrawing the money.

References

• Bankrate: You Can't Always Trust Certified Checks
• Federal Trade Commission: Giving the Bounce to Counterfeit Check Scams