Author Topic: Undo a Check Deposit?  (Read 2982 times)

Dr. A

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Undo a Check Deposit?
« on: December 26, 2014, 08:41:43 PM »
I've got an unusual banking question for you fine folks.

I received a year-end bonus earlier in the week and promptly used my phone to deposit it to my Ally checking account. The next day the office manger asked if we would like it put into our retirement accounts as an employer match.*

Does anyone know if it's possible to "send back" a paycheck I have deposited?

*At least, I think that's what she was asking. She asked if we wanted them to "match it to" the account. However, it's a Simple IRA, so I'm not even sure an employer match beyond 3% is allowed. Therefore, it's possible she just meant "contributed" to the account and the point is moot because I already maxed my contribution.

MDM

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Re: Undo a Check Deposit?
« Reply #1 on: December 26, 2014, 08:46:55 PM »
Don't know about sending back an already-deposited paycheck (although I strongly suspect "no chance"), but writing a check payable to the company for the same amount might be acceptable.

Only way to know is to ask - good luck!

TerriM

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Re: Undo a Check Deposit?
« Reply #2 on: December 26, 2014, 08:48:47 PM »
I'm pretty sure they can simply cancel the check.

DeltaBond

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Re: Undo a Check Deposit?
« Reply #3 on: December 27, 2014, 05:37:39 AM »
Seems the employer made a mistake in not providing that option before the check was handed out.  I would think that in that case, they need to allow you to write your own check to have them match it.