I think that the business or person who accepted the check will be the loser. My wife had a check stolen from her mailbox before I knew her. The business that accepted the check was out the money. One is supposed to ask for proper identification.
No idea if it was snatched from the mailbox at my place, or in the postal system. State Farm Auto is the ins/co handling this matter.
-Accordion
@Triedaq, like I said it works in reverse order. So the insurance company goes back to their bank for the funds to be reinstated, their bank goes back to the bank that accepted the check, that bank goes back to the company that cashed the checked and simply grabs the money back. The check cashing company is the one who will need to collect the money from the individual or take the loss. That’s why it can take two weeks for even a cashiers check to show up as a bad check. Just because a bank accepts a check and deposits your account doesn’t mean that they can’t pull the money back if its a bad check.