Today I was rather shocked to see that a check from Verotel was returned, resulting in a bank service charge as well.:bang:
This is the first time I’ve had any deposited check bounce in the 4 years since I opened my company.
I’d like to know if anyone else has had similar problems with Verotel’s checks in the past?
Re: Verotel Check Bounced
Wow… really?
Did you get any reason why it was cancelled? Normally you should have been given some kind of reason. It does happen now and then for all kinds of reasons. Maybe a old check? some are only valid for 90 days.
Re: Verotel Check Bounced
The check was issued April 13th and I deposited it on the 27th.
My bank says that it was returned either because of insufficient funds in Verotel’s account or they had the funds but there was a hold placed on them.
I’ve contacted Verotel Payments also, but no response so far.
Re: Verotel Check Bounced
Their weekly wire deposit for one of my accounts went through yesterday as usual.
Re: Verotel Check Bounced
This happened to me a while back. They re-issued the payment. If memory serves, it took well over a month to receive it, and it was added to a future payment which made it all a bit confusing.
Re: Verotel Check Bounced
This is the reply I got back from them:
Due to circumstances the checks are now temporarily printed in the Netherlands in stead of Curacao. We had an issue with the font of the routing numbers. This can cause problems when checks are being scanned automatically. But these checks are completely genuine and legitimate.
I’m very sorry to hear that you experienced problems with these checks.
The issue with the routing numbers is now solved. Please note that it’s not because of insufficient funds. Our bank always had sufficient funds.
I will resend check xxxxxx. The check will be send out on Monday.
Please send me the receipt of the fees you had to pay, this way I will be able to refund it to you.
Did you already send checks yyyyyy and yyyyyy to the bank? If not, please don’t. Since these checks also have the wrong fond of routing numbers, there is a high risk that these checks will bounce as well. If you not yet send them to the bank, I will resend the checks. So please let me know.
I’ve told them that I want to immediately switch to wire transfers. In the past I avoided this because the check amounts are not really large enough to justify the wire transfer fee I will have to pay each time. But I’d rather not risk problems with my bank manager if these checks keep bouncing. I’m worried that another four checks from Verotel which I already deposited in the same batch might also bounce today or Monday.
Re: Verotel Check Bounced
And I’m just looking at another one of their checks here. The bottom of it has the all the check data printed in what looks like tiny plain Arial font. Other checks I compare it to, such as my own, always have the special MICR font at the bottom.
So if you have any Verotel checks waiting to deposit, you might want to check the font before doing so.
Re: Verotel Check Bounced
I have my money wired to me every Monday and I have it in my account 2 days later on Wednesday.
Verotel has not once missed a payment, also not when you started this thread and my heart skipped a beat when I read it and thought of my time with Ibill/Etelegate…
Also - wire transfers are cheaper for me and more secure. Checks cost a lot with my bank and can take up to 2 weeks to get into my account.
Anyway - I am happy Verotel cleared it up with you - and it is good to know that when they make a mistake they still pay for it.
Re: Verotel Check Bounced
I’m satisfied with the way Verotel is handling the situation so far. They will be re-issuing 4 of the checks, this time from a different printing company. And the Verotel rep has offered to phone my branch manager herself if any more of the already deposited checks bounce.
The checks affected by the printing problem were ones issued on April 6th, 13th, 20th, and 27th.
Re: Verotel Check Bounced
The exact same happened to me last year. The cheque digits didn’t say the same as the words. They added it to the next payout.