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Alex J. Esq.
Alex J. Esq., Attorney at Law
Category: Legal
Satisfied Customers: 16720
Experience:  Experienced Licensed Attorney
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Bank refuses to cancel unused cashiers check I purchased

Resolved Question:

Can my bank refuse to cancel a cashiers check I purchased from them but did not use. I still have the original cashiers check and have changed my mind about giving it to the person as a gift as we no longer have a relationship. I took the original cashiers check to the bank where I purchased it and they refused to cancel it and return my money even if I endorse it with NOT USED FOR INTENDED PURPOSE. How can I get my money back without having to have the person the check it to sign it and endorse it over to me?  I am from Iowa.

Submitted: 6 years ago.
Category: Legal
Expert:  Alex J. Esq. replied 6 years ago.
Hello. My name is XXXXX XXXXX I will be happy to answer your question.

What is the reason stated for bank's refusal to refund your money?

Were the funds used to obtain cashier's check taken out of your account with the bank?

What is the total amount of the check?
Customer: replied 6 years ago.
Did you get my additional information? My total for the 5 cashiers checks is 12500 dollars. My bank said it is their policy not to refund or cancel cashiers checks because they are not legally obligated to do so - they have their own legal team I was told by the bank official.
Customer: replied 6 years ago.
I tried to reply with more information. I received money from a CD shortly after my fathers death and emotionally wanted to give it equally to the 7 grandchildren - 2 of which are my children. My children were given their checks right away and used them for student loans. I kept the other checks at the bank in a deposit box and the payees (my nieces and nephew) do not know anything about the cashiers checks. I have changed my mind about the amount I want to give the other grandchildren from 2500 to 1000. I will then give the 7500 to my children to again help them with student loans. I made an emotional decision just a month after my father passed away which in reality wasn't the best for me or my family. When I wanted to cancel the checks my bank said they could not do it and I would have to have them endorsed by the payees to me - I have to ask them to sign them and then say oh by the way I want them back I'm only giving you 1000 dollars - to make matters worse because of estate matters I don't have a relationship with one of my nieces any more.
Expert:  Alex J. Esq. replied 6 years ago.
How long ago were these checks purchased?
Customer: replied 6 years ago.
January 13, 2011 and my father passed away December 9th 2010.
Expert:  Alex J. Esq. replied 6 years ago.
Generally the banks would agree to to refund the cashier's checks as long as the purchaser would endorse them as not being used for intended purpose.

Do you have any type of banking relationship with this bank?

What is the name of the bank?

Have you spoked to a branch manager?
Customer: replied 6 years ago.
Yes I have a checking account and loans through the bank. The name of the bank is United Bank which is headquartered in Ida Grove, Iowa with my branch being located in Kingsley, Iowa. I spoke with the Kingsley bank branch manager and he spoke with the main office. I then spoke with a person who handles these matters from the main office - Ida Grove. Is there any legal way to get my money back without having to have my nieces and nephew endorse them over to me?
Expert:  replied 6 years ago.
Well, the bank bank does appear to be wrong under the facts you have stated to not to refund your money, especially providing the fact that you are not trying to cancel or put a stop on the cashier checks that were already given out.

I would suggest that you file a formal complaint with Iowa department of banking and also if all else fails you can file a lawsuit against the bank in the local court against the bank for unlawfully refusing to refund the money that you have paid for these check.

I would also strongly suggest that you consult with a local business attorney who can contact the bank legal department and negotiate the return of your money by writing a demand letter to the bank and letting the bank know that you are ready to pursue legal recourse against the bank.
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