I own a small business have a UPS mailbox where I receive some of my checks for clients that wont pay online. This year, 4 of my checks(totaling 12k) were cashed(I received the check images from the customer when I was following up for the payment) without endorsement in a JPM chase bank account. I do not have a JPC account. I have asked the clients to cancel the check and issue me a new payment. One client came back today that their bank said they cant do anything and that I have to solve this with JPC. JPC says they cant disclose their client account details.
I have since asked all clients to either pay online or send a check to my office address. When the first check hit, I thought it was a simple mistake by UPS but now it seems more malicious
What are my options? Do I call the cops and meet them at the UPS store? Am a bit lost here of what my options are
I was on the other side of one of these situations. I think you are letting yourself get pushed around. This should be on your client to resolve. They are responsible to get your payment into your hands. The fraud was against them, not you.
We mailed out a payment to a vendor that was intercepted, altered and cashed. And then the thief duplicated the check and cashed it two more times with different fictitious names.
As the writer of the check, we went to our bank (also JP Morgan Chase) and told them of the fraud. We also made a police report. The bank made us whole for the missing funds (around $5K).
For companies that write a lot of checks, JPM Chase has a program called Positive Pay which helps prevent check fraud. When you write a check, you go to your account online and list the check number, amount and payee. When a check is presented at the bank, the bank then checks against your list. If there’s a mismatch you get a notification and you have about a half a day to either approve or deny the check. It’s a little more work, but it resolved our problem. Chase doesn’t charge us anything to use Positive Pay.