Return to maker, also known as refer to maker, denotes the requirement for the recipient of the check to contact the check’s original author in order to find out why the check was rejected or returned. Sometimes an RTM mark will be placed on a returned check, requiring the recipient or depositor to get in touch with the original check writer.
The check maker or writer must get in touch with their bank to find out why the check couldn’t clear if they are unsure of the reason why the check was returned. Due to security concerns, the check’s recipient will be unable to get in touch with the writer’s or maker’s bank to inquire. Furthermore, a check that has received an RTM stamp cannot be redeposited.
According to a Federal Reserve study of non-cash payments, check processing volume decreased from $30.5 billion in 2006 to $24.5 billion in 2009, and plastic money via credit cards and debit cards has become more prevalent.
Because they can serve to produce a better record of a purchase than a plastic payment does, checks are still often utilised today. The payment history of friends, family members, small charities, home repair specialists, and other small or micro companies is frequently kept in-depth.