What to do If Your Check is Stolen and Cashed
Discovering that your check has been stolen and cashed is a stressful situation. The first and most crucial step is to immediately notify your bank or credit union. Explain the circumstances, provide details of the check (number, amount, date), and request that they restore the funds to your account.
Your financial institution has a responsibility to investigate the fraudulent transaction. If the check was processed electronically, you have additional protections under federal law. These protections, however, generally don't apply if you signed a blank check, making it vital to safeguard your checkbook and report any lost or stolen checks promptly.
Protecting Yourself Preventing Future Check Fraud
To mitigate future risks, always fill in the recipient's name and the amount payable when writing a check. If you lose a check that you've signed but haven't filled in the recipient's name, immediately contact your bank to stop payment on it. This preventative measure will significantly reduce the likelihood of fraudulent activity.
Regularly review your bank statements to promptly identify and report any unauthorized transactions. Consider using secure methods of payment, such as online bill pay or electronic transfers, to avoid the risks associated with paper checks.
“Report a stolen check immediately to minimize financial loss and maximize the chances of recovery.
Financial Expert
Interactive Resources
Learn More About Protecting Your Finances
Fraud Reporting Guide
A step-by-step guide to reporting check fraud to the proper authorities, including banks and law enforcement.
Check Security Checklist
A checklist for reviewing and securing your checks to prevent theft and fraud.
Additional Actions What if Your Check is Forged?
If a check written to you is stolen and your signature forged, immediately inform your bank. They will investigate and, if the forgery is confirmed, return the funds. Ensure you file a police report as it serves as documentation for the fraudulent activity.
If your bank refuses, or you are not satisfied, file a formal complaint with the Consumer Financial Protection Bureau (CFPB) and consider legal counsel to review your options.