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Return to Maker - Paycheck - What does this mean - Bounced?

Posted: Aug 01, 2010

Went to the issuing bank with my paycheck in hand. Bank supervisor was called over. After they stared at the screen for several minutes, handed me back the check and said they could not cash it. When asked why, was told that it was to be "returned to maker."

Is that reason to believe the MTSO is not able to cover the paycheck?

google has a ton of information on this phrase.NM - Return to maker

[ In Reply To ..]
NM

Could be any multitude of reasons - not a banker

[ In Reply To ..]
From Google:
Refer to Maker - RTM - Checks returned with the RTM stamp require the depositor to contact the maker of the check. Refer to maker means, you should contact the person that wrote the check to find out why the item was returned. If the maker does not know why the item was returned, the maker should contact their own bank for the reason. The merchant cannot obtain the reason for return from the maker's bank, only the maker can get this information. Items stamped RTM or stamped Refer to Maker cannot be redeposited. A new item is required.

The reasons I'd suspect are stop payment, closed or frozen account, etc. I'd be on the phone in a HEARTBEAT to the person who paid you the check and ask that a certified cashier's check be issued to you immediately.

Thanks - OP

[ In Reply To ..]
dd

Yes, it means bounced . . . - Former Bank Manager - SoCal MT

[ In Reply To ..]
Short answer - the funds are not there.

A bounced check can be deposited twice. The first time it is stamped and sent back to you. If it is returned a second time, it is perforated and cannot be deposited again.

Because you tried to cash it, it can still be deposited if the company tells you the funds are now there. The problem is, depending on the bank on which it is drawn and whether or not they use the same clearing house as your own bank, it can take 2-3 weeks before it comes back to you as insufficient funds. In the meantime you think the money is there, and when it is returned you will have lots of associated fees from bouncing your own checks against that money (that was never really there).

So trying to cash it is a good move. If you go to a branch of the bank on which the check is written, you can go repeatedly until there are funds there . . . unless the account is closed (or frozen - and this is a really bad sign).

As someone else mentioned, you really need to contact the company ASAP. Something worrisome is most likely happening, although there is an outside chance it is just a mistake somewhere. For your sake, I hope so.

I wish you the best with this.

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