Return to maker is commonly written as refer to maker and means that the person who was given the check needs to refer or return to the original writer of the check in order to learn why the check was not accepted or was returned. Checks will sometimes be returned with a RTM stamp, which requires the recipient of the check or the depositor of the check to contact the person who wrote the check originally.Know More
If the writer of the check is not sure why the check was returned, then the writer or maker of the check will need to contact their bank in order to determine why the check could not go through. The receiver of the check will be unable to contact the writer or maker's bank in order to find out due to security reasons. Additionally, any check that has been stamped with an RTM cannot be redeposited.
Plastic money via credit cards and debit cards have become increasingly common with the volume of check processing declining, according to the Federal Reserve study of non-cash payments, from $30.5 billion in 2006 to $24.5 billion in 2009. Checks are often still used because they can help to create a better record of a purchase than a plastic payment can. Many people like to keep a detailed record of payments made to friends, relatives, small charities, home repair contractors and other small or micro businesses.Learn more about Personal Banking
In order to check the status of your federal refund on the Internal Revenue Service website, taxpayers need a Social Security number, the filing status that was stated on the return and the exact amount of the refund, according to the IRS. The website will show the status of returns starting 24 hours after they have been received electronically and 4 weeks after a paper copy is received in the mail.Full Answer >
Checks generally do not have expiration dates, and banks may cash checks even if they were written more than six months in the past. However, banks have the option to honor or dishonor a check more than six months old.Full Answer >
An Arvest checking account could refer to a range of personal checking account options that the bank offers to its potential customers. The checking account options available at Arvest include the Free Blue, myBlue, Basic Blue, Arvest Club and Preferred Club.Full Answer >
According to Forbes, a bank is not obligated to pay a check that is more than six months old. After the initial period it is to the discretion of the bank whether to honor the check or not.Full Answer >