What is return item chargeback bank of america check?

A return item chargeback occurs when a check that has been deposited into a bank account is returned by the payer's bank due to insufficient funds or other issues. This results in the funds being deducted from the payee's account.

Bank of America may charge a fee for processing return item chargebacks. The fee amount can vary depending on the bank's policies and the specific circumstances of the chargeback. It is important to review the bank's fee schedule to understand how much you may be charged for this type of transaction.

It is also important to note that return item chargebacks can have financial implications for both the payer and the payee. The payer may incur fees or penalties for having insufficient funds, while the payee may have to cover any associated fees or deal with the inconvenience of not receiving the expected funds.

If you have any questions or concerns about return item chargebacks and associated fees, it is recommended to contact Bank of America directly for more information.