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Clickbank checks are DEPOSIT ONLY

by tampaprogrammer
6 replies
Just though I would give a heads up to those of you that may not know but I received my first Clickbank check today and it is a Wells Fargo account.

It just so happens *I* also bank with Wells Fargo so no big deal (so I thought).

Anyway, after waiting over a half hour at the bank while the teller "grilled" me, asking me how I earned the money, exactly what does CB do, etc. etc, they tell me that their account is "flagged" and the check MUST be deposited, not cashed.

I was just planning on depositing most of it while taking out a few hundred in cash but you can't do that with them, even when the two accounts are both Wells Fargo (weird).

I am assuming it is some sort of authentication method on CB's part to verify who we are <shrugs>.

To make a long story short, I ended up just slipping the deposit into the ATM instead because it actually posts faster (their suggestion). So much for human interaction...lol

Rod
#checks #clickbank #deposit
  • Profile picture of the author WillR
    Originally Posted by tampaprogrammer View Post

    Just though I would give a heads up to those of you that may not know but I received my first Clickbank check today and it is a Wells Fargo account.

    It just so happens *I* also bank with Wells Fargo so no big deal (so I thought).

    Anyway, after waiting over a half hour at the bank while the teller "grilled" me, asking me how I earned the money, exactly what does CB do, etc. etc, they tell me that their account is "flagged" and the check MUST be deposited, not cashed.

    I was just planning on depositing most of it while taking out a few hundred in cash but you can't do that with them, even when the two accounts are both Wells Fargo (weird).

    I am assuming it is some sort of authentication method on CB's part to verify who we are <shrugs>.

    To make a long story short, I ended up just slipping the deposit into the ATM instead because it actually posts faster (their suggestion). So much for human interaction...lol

    Rod
    I would never have thought they would allow you to cash out a Clickbank check anyway. As far as I am concerned you have always had to deposit them into an account.

    As for the teller drilling you with questions, tell them to mind their own business. It's got nothing to do with them. Otherwise get a new bank. That company (Clickbank) has written you a cheque to pay you with their money - the bank should not be questioning you. I may be wrong but I don't see why they can question you or ask you where you got that money from. Obviously if you are laundering money you are not going to tell them so I don't see the point of those questions.
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    • Profile picture of the author tampaprogrammer
      I thought a check is a check is a check, meaning...

      I don't care if Joe Blow from Kokomo wrote me a check. If I go to "his" bank, I should be able to cash it. Sure there may be a fee if I don't bank with that bank but regardless, if the funds are available, you should be able to walk into the bank, show proper ID and cash the sucker, no questions asked.

      At least that's how its always been "back in the day"...lol

      You never had to "deposit" a check if you didn't want to (but we typically do).

      I will be opening up a Regions account this week since they are now local (here in TN) and I had to drive to Georgia just to make this deposit to a Wells Fargo.

      I miss Florida

      Rod
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      • Profile picture of the author WillR
        Originally Posted by tampaprogrammer View Post

        I thought a check is a check is a check, meaning...

        I don't care if Joe Blow from Kokomo wrote me a check. If I go to "his" bank, I should be able to cash it. Sure there may be a fee if I don't bank with that bank but regardless, if the funds are available, you should be able to walk into the bank, show proper ID and cash the sucker, no questions asked.

        At least that's how its always been "back in the day"...lol
        Rod,

        No, you can only do that with certain cheques known as bank cheques. Those cheques are different in that they are payable by the bank who wrote the cheque, rather than funds coming out of a customer or businesses personal account.

        From Wikipedia:

        A cheque which is payable by a bank itself, as opposed to an ordinary cheque payable only out of the funds of a particular customer's account. A bank cheque is normally obtained by a bank customer (by paying its face value), the point is that the person receiving the cheque has the security of knowing it's payable by the bank and thus cannot bounce (not so long as the bank is solvent).
        Obviously banks are ok to cash bank cheques on the spot because they know they will get the money. When the cheque is drawn by an individual or a business then the story is different. The cheque could bounce so they will always wait until they get the funds before they pass them on to you. This is standard practice.

        Just be thankful you are banking with the same bank as it should mean the transfer happens faster.
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  • Profile picture of the author GeorgR.
    What are those "checks" anyway?

    But yes i remember when i still got checks...the banks did not have a clue what it is..whether "Clickbank" is a bank etc...and the fact that it was international didn't make it easier either. But all those problems are gone with direct deposit anyway. There might be reasons to complain about CB occasionally...but they have always been great and punctual with their payments.
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  • Profile picture of the author tampaprogrammer
    Don't get me wrong, I am not complaining, was just surprised because I have cashed hundreds (thousands?) of checks in my lifetime since I was in construction for so many years.

    @Wil, the check was a normal business check from Clickbank. The funds ARE guaranteed because its an internal "account to account" transfer (basically) so the bank knows in real time that the funds were available in CBs account at the time of the transaction.

    It's not like it was a Wells Fargo to Bank of America transaction.

    Again, no big deal. Only have to deal with 2 "paper" checks before I get the direct deposit thing anyway. I have not had a paper check in years (everything has been direct) so I just figured we may have even become more efficient in the "real" world...

    Guess not

    Rod
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  • Profile picture of the author jonluk
    Banks (certainly in the UK) are allowed to ask whatever questions they want about the source of money that you're paying in - it's all to do with anti money laundering.
    Personally, I'll often pay cheques in via the atm as it's a lot quicker.
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