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#42225

Mike Z. Helm (Visitor)

what happens if you are on chexsystems Bank deducts old bad check from account

That's an interesting comment. Are there any problems with writing void after XX days on a check? Will some places refuse the check if that's on it? I'm talking about average Joe using checks in the supermarket or mailing to the DMV or whatever. Banks typically read only the amount and account number when processing a check. This is why they reserve the right to return or process stale checks at their discretion, i.e. ignoring the date. Writing void after 60 days may make the check legally not a check at all. I'm very hazy on this point, but the Uniform Commercial Code (law in nearly all states) is incredibly detailed on what constitutes a check. As I recall from discussions on misc.legal.moderated

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#42226

Joe Bramblett, KD5NRH (Visitor)

what happens if you are on chexsystems Bank deducts old bad check from account

In fact, my most recent paycheck says Void After 180 Days . That's pretty common, since I've had occasions where an old check turned up that I had misplaced. (small commission checks or $5-$10 reimbursements, etc.) Once the check is that old, it's easier for them to reissue it if they can simply verify that it hasn't been cashed and it's past the Void After date, rather than having to issue a stop payment on the original first. A few guys I've worked with even sat on these checks intentionally until they had a fair amount tied up in stale checks, (60 days until void at that company) then had the whole mess reissued as a single check. The company discouraged it due the accounting hassles, and eventually just started adding these amounts onto the regular paychecks.

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#42227

Mike Z. Helm (Visitor)

what happens if you are on chexsystems Bank deducts old bad check from account

news: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it : I'm not saying it means anything at all, but I have been given checks that read Void After 90 Days . From the few times I remember reading the T&Cs in that much detail, at least some banks require you to make arrangements for this in advance; i.e. they won't look at each check to see if you've written it on there, but if you worked it out with them ahead of time and have the checks preprinted that way, they'll add the 60/90/180/whatever days flag to your account. In fact, my most recent paycheck says Void After 180 Days . That's pretty common, since I've had occasions where an old check turned up that I had misplaced. (small commission checks or $5-$10 reimbursements, etc.) Once the check is that old, it's easier for them to reissue it if they can simply verify that it hasn't been cashed and it's past the Void After date, rather than having to issue a stop payment on the original first. A few guys I've worked with even sat on these checks intentionally until they had a fair amount tied up in stale checks, (60 days until void at that company) then had the whole mess reissued as a single check. The company discouraged it due the accounting hassles, and eventually just started adding these amounts onto the regular paychecks. I was issued a withdrawal check from a 401k plan and took 6 months to cash it. It was too small to bother with, I thought. I don't think this is how it's supposed to work, but since I took so long to cash the check, I had built up a few dollars in interest in the 401k and they issued me a check for that. That time though, they didn't allow interest to be built up.

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