Unsolicited check fraud is on the rise. Did you ever receive a check in the mail that you were not expecting? These checks could look like a rebate check or a refund for an overpayment. Before opening your banking app to deposit it or running to your financial institution to cash it, examine the check thoroughly.
Please see the steps below on what to inspect on an unexpected check:
- Pay close attention to the fine print.
- Inspect both the front and back of the check.
- Review your personal information on the check.
- Research the company or financial institution it came from.
If someone sent you a check and then asked you to send money back, it is probably a scam. This request could potentially happen because of these situations below:
- You won a prize and are told to pay back taxes and fees.
- You get paid as a “secret shopper” and are told to wire money back.
- You sold an item online and the buyer overpays.
Uncovering a fake check could take weeks even if the funds are deposited into your account within days. By then, the scammer already has your money. Regardless of the situation, if it is a fake check and you deposit it, you will have to repay the financial institution and could potentially be in fraudulent trouble.
If you receive an expected check, here are some tips on what to do:
- Talk to your financial institution and ask questions before you act on cashing it.
- Never take a check for more than your selling price.
- Consider using an online paying service if you are selling items online to prevent a check situation like this.
- Never send money back to someone who sent you a check.
- If you feel like you are in a fraudulent situation, contact your financial institution and the local authorities if needed.
Contact our Member Service Center below with any questions:
- 570-961-5300
- info@netcreditunion.com
- Message via Digital Banking
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