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Greetings! We have a business account with TD bank. We bought an existing restaurant some years ago and took over most of its merchants. Our liquor merchant recently issued us a refund check because they double charge us. However, it was named to the previous company that we took over they said that this is because they have to go by on what is registered on the NY state of Liquor Authority even though our company is the new principal owner ( In New York the liquor license is bound by the premise/restaurant/place where the actual selling/consuming of liquor happens and not to the person owning the business, or occupant of the said place.) Now my question is can we still deposit this check on our account? I have talked to that merchant and they refuse to change the adressee of the check. They also said that they cannot credit our account with them with that check. They said the most that they can do is address it to what is on the license and put the dba on it which is the name of our account with you. If they do this, may we deposit the check in our account in TD bank? They actually double charge our account and I asked one of the represenative from TD bank to help me resolve it. The wonderful agent told them to either give us a refund check or the bank will file a claim. They choose to refund us and I got a letter from TD bank proving that both charge where funded and cleared by TD bank and went into their account. It got our company name and DBA on that letter addressed to that merchant. However they still went to cut the check on the premise name. Please help and advise what to do because this money is just floating and I need it to deposit it in our TD account.
Frances, New York
April 19, 2017 04:36:46 PM
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In reply to Frances, New York
Frances, thanks for connecting with us. TD Helps is dedicated to helping you with all your banking questions.
In order to deposit a check into your business account it must be made payable to the business name on the account or the name of one or more authorized signer(s) on the account.
If the merchant is unwilling/unable to assist you with your request, we may recommend you proceed with the previous option of filing a dispute for the original transaction.
We hope you find our answers helpful and please don’t hesitate to return to TD Helps if you have any further questions.
Customer Service Team, Mount Laurel
April 19, 2017 04:37:24 PM