Cancelling deposit

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dauling

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I just got an acceptance from UCSF. My interview was on the 12th and i was not expecting to be notified of a decision so quickly. I have already sent my $2000 deposit into columbia, but tomorrow is the jan. 15th deadline...is it possible for me to rescind my deposit and cancel the check? if i don't get a hold of anyone tomorrow, can i cancel the check and notify them later?
 
You can cancel the check. Your bank will probably charge you a ridiculous fee, but the fee is going to be MUCH less to lose than $2000. It won't hurt to call them and let them know you have cancelled the check, though. Email too. I think if they try to cancel it it'll bounce, I'm not sure if Columbia can charge YOU a fee for that or not.
 
well this is a toughy...depends on a few things...A) when did u submit the check? B) Have they already cashed the check? C) Even if u can cancel the check, you might still have to give them the money since you've turned in the acceptance form. They can go after you for that and they might even put a hold on your acceptance to UCSF. Not a 100 percent sure about that, but I'd check the legal mumbo jumbo on that.
 
yeah if i were you, i'd call your bank ASAP (1800 number usually provides 24/7 service) and cancel that check!!! My bank charges $35 for check cancellation. Hopefully, columbia hasn't cashed it yet.
 
Hehe, shoot, I would do it. $2000 is a lot of money. If you have time before they cash it, cancel it, and email/call them to let them know the situation. $2000 is a lot of money...
 
yeah, i just want to make sure it's acceptable to do that and that i'm not violating some sort of aadsas rule that will result in me having both offers rescinded!
 
I just got an acceptance from UCSF. My interview was on the 12th and i was not expecting to be notified of a decision so quickly. I have already sent my $2000 deposit into columbia, but tomorrow is the jan. 15th deadline...is it possible for me to rescind my deposit and cancel the check? if i don't get a hold of anyone tomorrow, can i cancel the check and notify them later?

how did they notify you?
 
yeah if i were you, i'd call your bank ASAP (1800 number usually provides 24/7 service) and cancel that check!!! My bank charges $35 for check cancellation. Hopefully, columbia hasn't cashed it yet.

Same here. So you'll have $1965 👍 A lot better than loosing the 2k. Congrats on UCSF!
 
Were you able to cancel the check?
 
You are better off dealing directly with the school in question regarding the deposit. Placing a stop payment on the check may do the trick, however, reneging on a contract and "cheating" the school out of the 2K which is rightfully theirs is not exactly a good way to start a professional school/career.
 
I called the office today. Ms. Lugo was really nice and told me that the computers were currently down, but she made a note of it and would send me a reply e-mail. She told me that the check probably hadn't processed yet and she would do what she could to get the money back even though it says it's non-refundable. She said that if it had processed, she'd have to look to see what we could do, but that she remembered what it was like to be a student and would try to get me the deposit back. I called back around 4 pm and still she didn't pick up...she also hadn't e-mailed me back...i called my bank and they said that they didn't have any information on the check yet (meaning columbia hadn't deposited it), so i went ahead and put a stop payment on the check for safety measures (and since Ms. Lugo sounded like it was ok to rescind the deposit). I'll call back again tomorrow to let them know and get the update.

Yeah, I definitely didn't want to just cancel the check in case it was violating some aadsas rule or since it just seemed like it was inappropriate/unprofessional behavior (I mean if they processed it and secured a seat...and i just cancelled the check without informing them or clearing it by them...it doesn't seem very appropriate). I just figured it might be acceptable since it was on the actual deadline date. Anyway, the office seemed really nice and considerate of the situation, and I think i'll be able to get my $2000 back! YAY!
 
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Dude, put a stop payment on the check (your bank will probably hit you with about $25 worth of fees, but thats better than losing $2000!)
 
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