Author Topic: Rude to not cash your cheque promptly  (Read 34474 times)

chouchouu

  • Bristles
  • ***
  • Posts: 304
Rude to not cash your cheque promptly
« on: January 26, 2015, 07:20:31 PM »
This came up as a topic on another forum I'm a member of. There was even a poll, all varying degrees of how "rude" it is not to cash your cheque and time frame. If you're still scratching your head wondering it is apparently rude because people might spend that money if it is left too long in their account and they need it for bills and then the cheque will bounce and they'll be punished for not having a tight grip on their finances. Any opinion otherwise is obviously classist and out of touch with the reality of the poor. Funny cause as a full time uni student earning minimum wage I never had a cheque bounce and the two times I happened to overdraw my savings account I blamed myself for my own incompetence.

Scarily enough there were only a few people who didn't think it rude and many people had even been told by their parents it's rude to not deposit a cheque quickly. This is the financial education people are getting from their parents! So glad these people only exist on the Internet...

exranger06

  • Stubble
  • **
  • Posts: 100
  • Age: 31
  • Location: CT
Re: Rude to not cash your cheque promptly
« Reply #1 on: January 26, 2015, 07:35:04 PM »
I hate when people don't cash checks promptly. It has nothing to do with overdrawing my account ; I've never overdrawn my account in my life. I just hate having iit hanging over my head. It's like, by writing a check I'm agreeing to give you money, so just take the damn money already! My wife and I gave my brother in law a check for Christmas and he still hasn't cashed it and it's driving me crazy! I wish he would cash it so I can just forget about it already.

gimp

  • Handlebar Stache
  • *****
  • Posts: 2348
Re: Rude to not cash your cheque promptly
« Reply #2 on: January 26, 2015, 07:41:44 PM »
It is absolutely rude. I don't want to keep remembering that $x is set aside and I can't, I don't know, throw it at my vanguard. Does that mean I don't have a tight grip on my finances? I want things to be automatic - boom, boom, boom, no input from me. Bills get auto-debited, paychecks direct deposited, and so on.

chouchouu

  • Bristles
  • ***
  • Posts: 304
Re: Rude to not cash your cheque promptly
« Reply #3 on: January 26, 2015, 07:43:31 PM »
Don't you think it's a waste of your time worrying about it? Just leave a decent buffer in there and forget about it. Maybe use cash next time if it bothers you so much?

caliq

  • Pencil Stache
  • ****
  • Posts: 675
Re: Rude to not cash your cheque promptly
« Reply #4 on: January 26, 2015, 08:06:52 PM »
Don't you think it's a waste of your time worrying about it? Just leave a decent buffer in there and forget about it. Maybe use cash next time if it bothers you so much?

1.  Not everything you pay with a check can be paid in cash.

2.  How much is a 'decent' buffer? I write checks of varying random amounts fairly frequently.  I have one account with a checkbook and it's also the account that all my autopaid bills are drawn out of.  I try really hard not to mess around with anything in that account because I have things set up to auto-transfer $X on the 1st of every month (monthly income) into it, to cover all the bills.  I keep around a ~$100 buffer in that account.  If I write a check, I transfer the check amount to the bill paying account.  Every few months, I take any excess buffer (>$100) out of the bill paying account (I round up on all my bills/some things are variable so the monthly input vs. output is not exact) and put it towards debt or savings.  If I don't remember the check I wrote three months earlier, I might have just screwed myself. 

3.  It worries me when a check goes forever without being cashed because I don't know if the person has LOST the check, and therefore released my bank account number, name, address, and phone number to the wind.  I don't need that anxiety.

4.  You can deposit checks into a lot of accounts using your smart phone these days.  You just take a picture of the check.  I really don't see how you could justify delaying a check deposit anymore.

crispy

  • Bristles
  • ***
  • Posts: 467
Re: Rude to not cash your cheque promptly
« Reply #5 on: January 26, 2015, 08:11:30 PM »
I think it's rude.  I keep a tight rein on my checking account, and it's annoying as heck to know there is an outstanding check out there.  it hasn't nothing to do with being overdrawn or wanting to spend the money.  It's is just discourteous to hold a check for weeks or months on end.

MgoSam

  • Magnum Stache
  • ******
  • Posts: 3643
  • Location: Minnesota
Re: Rude to not cash your cheque promptly
« Reply #6 on: January 26, 2015, 09:55:48 PM »
I think it's bad form in general. My first job out of college was at a small, newish firm, and the owner was generally unhappy with me waiting a few weeks to cash my paycheck. As a new company, cash flow wasn't the best and they didn't have a ton of reserves, so he was worried that I might cash it and then they might have a bill come up, or also he did want to know how much cash they had on hand. Eventually he insisted on direct deposit, which made my life easier.

My mom is an independent contractor and each time I go home I notice in a little storage nook that she keeps checks from the companies she's associated with. They generally run into several thousands, and many are a few weeks old. She insists that she just forgets, but won't ask to be put on direct deposit. That said, she keeps all her money in the bank, so it isn't like she's losing any opportunity cost. That said, it can be inconvienent for the companies, but oh well.

MafiaPrincess

  • 5 O'Clock Shadow
  • *
  • Posts: 32
  • Age: 36
  • Location: Ontario
Re: Rude to not cash your cheque promptly
« Reply #7 on: January 26, 2015, 10:38:22 PM »
I find it rude.  I keep a decent buffer in my bank account, have never overdrawn ever, but I too don't want to have to remember month after month that there is a cheque kicking around for x amount of money that may  may not eventually be cashed. 

One of my hobbies/sports is dog trials.  Only recently do some venues allow emts.  Otherwise it's by mail via cheque.  I've had a few where the trial we attended has passed and the cheque still hasn't been cashed.  Took 2-3 months to finally be cashed. 

Having recently switched to tangerine I *adore* their deposit function through the app.  I get paid via cheque biweekly and I deposit that night.  Personally I want the money in my account when I get one.

garth

  • Stubble
  • **
  • Posts: 124
Re: Rude to not cash your cheque promptly
« Reply #8 on: January 26, 2015, 11:29:11 PM »
If you ask me, what is really rude is paying with a check.

johnny847

  • Magnum Stache
  • ******
  • Posts: 3196
    • My Blog
Re: Rude to not cash your cheque promptly
« Reply #9 on: January 27, 2015, 12:02:54 AM »
Wow this is not the reaction I was expecting on this forum. Just keep track of pending checks, it's not that hard.

I use YNAB. Whenever I write a check, I write the check value as an outflow in the corresponding bank account. Because I spend according to YNAB, and not according to what my bank tells me when I log in, this works well.

I think the only valid reason I've seen so far is
One reason it is rude is that it prevents you from closing the bank account upon which the check was drawn.

bluecheeze

  • Stubble
  • **
  • Posts: 114
  • Age: 32
Re: Rude to not cash your cheque promptly
« Reply #10 on: January 27, 2015, 01:11:04 AM »
Is there even really a need to use checking anymore?

With most banks nowadays you can electronically transfer money instantly to anyone free of charge.  I don't think I've written a check in almost a decade.

agent_clone

  • Bristles
  • ***
  • Posts: 252
  • Location: Australia
Re: Rude to not cash your cheque promptly
« Reply #11 on: January 27, 2015, 01:33:40 AM »
Is there even really a need to use checking anymore?

With most banks nowadays you can electronically transfer money instantly to anyone free of charge.  I don't think I've written a check in almost a decade.
These people are from the US. From what I can tell, their banking system is backwards and a lot of people get paid via check rather than direct deposit like everywhere else in the world (except where you get paid cash e.g. Kenya).  Apparently costs more money to do the DD for paying people there.  Personally I've only ever used bank cheques (ones that you go to the bank and they make the cheque rather than you having a cheque book), and this is for things like my house deposit, or when I bought a car.

MsPeacock

  • Handlebar Stache
  • *****
  • Posts: 1550
  • Location: High COL
Re: Rude to not cash your cheque promptly
« Reply #12 on: January 27, 2015, 04:12:46 AM »
Is there even really a need to use checking anymore?

With most banks nowadays you can electronically transfer money instantly to anyone free of charge.  I don't think I've written a check in almost a decade.

I can pay online with my bank. However, for individuals all the bank does is print a check and mail it to them. It is a slower process than if I just write a check and hand it to the individual.  I wish I could do electronic instant transfers for free. I guess maybe we will get that in another 15 years or something. I am not aware of any US banks that offer it.

bluecheeze

  • Stubble
  • **
  • Posts: 114
  • Age: 32
Re: Rude to not cash your cheque promptly
« Reply #13 on: January 27, 2015, 05:02:26 AM »
Quote

I can pay online with my bank. However, for individuals all the bank does is print a check and mail it to them. It is a slower process than if I just write a check and hand it to the individual.  I wish I could do electronic instant transfers for free. I guess maybe we will get that in another 15 years or something. I am not aware of any US banks that offer it.

My CapOne 360 account does it.
Ally bank also did it.

Paul der Krake

  • Magnum Stache
  • ******
  • Posts: 4608
  • Age: 11
  • Location: USA
Re: Rude to not cash your cheque promptly
« Reply #14 on: January 27, 2015, 05:13:23 AM »
Define "promptly" then. What's acceptable, 3 days, one week, two weeks?

DecD

  • Bristles
  • ***
  • Posts: 298
Re: Rude to not cash your cheque promptly
« Reply #15 on: January 27, 2015, 05:28:21 AM »
My parents taught me that it is good manners to cash a check promptly.  Since it's now possible to deposit checks over your phone, via atm, etc, there's really no excuse not to.

slugline

  • Handlebar Stache
  • *****
  • Posts: 1171
  • Location: Houston, TX USA
Re: Rude to not cash your cheque promptly
« Reply #16 on: January 27, 2015, 06:17:41 AM »
I still write checks when it's the cheapest option. It's sad but I still deal with organizations that charge a "convenience fee" for paying electronically.

Rural

  • Magnum Stache
  • ******
  • Posts: 4841
Re: Rude to not cash your cheque promptly
« Reply #17 on: January 27, 2015, 06:22:52 AM »
Some people still balance their checkbooks; that won't work out at all with a check outstanding. Thanks for the reminder; I have a check that I've already apologized about not cashing once. I'll take that to the bank this morning.

I'm a red panda

  • Walrus Stache
  • *******
  • Posts: 8011
  • Location: United States
Re: Rude to not cash your cheque promptly
« Reply #18 on: January 27, 2015, 06:32:49 AM »
If you're still scratching your head wondering it is apparently rude because people might spend that money if it is left too long in their account and they need it for bills and then the cheque will bounce and they'll be punished for not having a tight grip on their finances.

It's also a bit rude, because someone who won't do that still has to deal with reconciling the uncashed check every month...

I got a check for my 16th birthday, that I apparently lost.  I found it when I moved permanently at 24. I called my Uncle and asked if he would mind if I cashed it, he didn't think the bank would, but offered to send me a new one. (The bank did cash it no problem).  He said he saw that check in his balance every month for the past 95 months and would think of me and smile.  But I did cause him a bit of extra math every month...  (I asked him- if he knew I lost the check, why didn't he tell me? Apparently he was just going to keep it on the ledger forever.)

eyePod

  • Pencil Stache
  • ****
  • Posts: 966
    • Flipping A Dollar
Re: Rude to not cash your cheque promptly
« Reply #19 on: January 27, 2015, 06:34:05 AM »
4.  You can deposit checks into a lot of accounts using your smart phone these days.  You just take a picture of the check.  I really don't see how you could justify delaying a check deposit anymore.

This is the best point as to why you should do it promptly. The barrier to entry is so low. You don't have to drive to a bank when it's open or anything like that. Just take a picture and it magics into your account instantly!

Scandium

  • Handlebar Stache
  • *****
  • Posts: 2223
  • Location: EastCoast
Re: Rude to not cash your cheque promptly
« Reply #20 on: January 27, 2015, 06:55:11 AM »
Agree with all the other foreigners; it's extremely rude of america to still use somethings so antiquated and backwards as paper checks! "Yes good sir, perchance I can pay you in bales of hay instead?"
Had never seen one until I came to the US. In the civilized world, If I owed someone money (for a dinner or some such) they'd send me their account number, I punch it into my online (no fee) bank and the money is transfered. Done. I guess it's progress that I can take a picture on my phone, so I don't actually have to go the bank.

johnny847

  • Magnum Stache
  • ******
  • Posts: 3196
    • My Blog
Re: Rude to not cash your cheque promptly
« Reply #21 on: January 27, 2015, 07:03:52 AM »
As a European I confess to never having used a cheque in my life...
It's a totally alien concept to me.
Direct debit all day, every day.
At a conference I remember talking to an Austrian and somehow we ended up talking about checks. He told me in Austria, individuals are not even allowed to write check (though businesses still are).

Agree with all the other foreigners; it's extremely rude of america to still use somethings so antiquated and backwards as paper checks! "Yes good sir, perchance I can pay you in bales of hay instead?"
Had never seen one until I came to the US. In the civilized world, If I owed someone money (for a dinner or some such) they'd send me their account number, I punch it into my online (no fee) bank and the money is transfered. Done. I guess it's progress that I can take a picture on my phone, so I don't actually have to go the bank.
The US is backwards in some areas (as every country is in some way). I mean, in the US, there are still very few credit card companies that issue true Chip and PIN cards, even though many other parts of the world switched over years ago.

I asked him- if he knew I lost the check, why didn't he tell me? Apparently he was just going to keep it on the ledger forever.
Again, this is what I do. It's not that hard guys.

Some people still balance their checkbooks; that won't work out at all with a check outstanding. Thanks for the reminder; I have a check that I've already apologized about not cashing once. I'll take that to the bank this morning.
It will if they just record the check as a pending transaction. Not that hard.


Seriously guys, why is the burden on the person receiving payment in this transaction? The only valid reason that I've seen so far is that you may want to close the bank account you just wrote a check from. Which thankfully doesn't happen very often.

lizzie

  • Stubble
  • **
  • Posts: 174
Re: Rude to not cash your cheque promptly
« Reply #22 on: January 27, 2015, 08:06:16 AM »
This is funny because for the last three weeks I've been annoyed about an uncashed check for $800 that I wrote to reserve a rental for our summer vacation. I would much rather not have written a check, but the guy insisted on a check rather than a credit card.

Part of the problem is that, like a lot of people around here, I like to keep the amount in our checking account fairly low and put the extra either into investments or (for short-term savings) our money market account. This is how we control our spending; our income is large enough that, before I discovered MMM, we had gotten into the bad habit of not really worrying about how much we were spending (of course we never spent more than we had, though!). The easiest way to impose discipline on ourselves is just not having the money sitting around in the first place.

So these days, extra money in the checking account is somewhat tempting to my less-than-Mustachian spouse (who is very good about saving, but just doesn't want to be as hardcore as I would like to be). Theoretically we both know the $800 is already spoken for but he might tend to forget. I'd rather just have the $800 be gone than have to be in charge of reminding him that it's not available. That's what bugs me.

cjottawa

  • Stubble
  • **
  • Posts: 152
Re: Rude to not cash your cheque promptly
« Reply #23 on: January 27, 2015, 08:06:38 AM »
I dunno about "rude" but it's annoying.

With people (friends, specifically) who I know to be "administrative cluster-smucks" I will either give them cash or send them an instant electronic transfer.

I track everything to the penny so it's not like it would cause me to bounce anything; all it would do is carry-forward, indefinitely, until they sorted their life out. No thanks; I like things to be neat and tidy.

And yes, the high percentage of "ENTJ/INTJ" people on the board, myself included, are probably the only people who this bothers. To each their own.

This is funny because for the last three weeks I've been annoyed about an uncashed check for $800 that I wrote to reserve a rental for our summer vacation. I would much rather not have written a check, but the guy insisted on a check rather than a credit card...

When a business does this, it makes me think they're trying to fuck me over in the hopes I'll bounce the cheque so they can collect an additional "$40 NSF fee".

« Last Edit: January 27, 2015, 08:10:52 AM by cjottawa »

rocksinmyhead

  • Handlebar Stache
  • *****
  • Posts: 1491
  • Location: Oklahoma
Re: Rude to not cash your cheque promptly
« Reply #24 on: January 27, 2015, 08:32:59 AM »
Is there even really a need to use checking anymore?

With most banks nowadays you can electronically transfer money instantly to anyone free of charge.  I don't think I've written a check in almost a decade.
These people are from the US. From what I can tell, their banking system is backwards and a lot of people get paid via check rather than direct deposit like everywhere else in the world (except where you get paid cash e.g. Kenya).  Apparently costs more money to do the DD for paying people there.  Personally I've only ever used bank cheques (ones that you go to the bank and they make the cheque rather than you having a cheque book), and this is for things like my house deposit, or when I bought a car.

AFAIK most people here are paid with direct deposit. I have been for every job since high school. I still use checks for transferring large amounts of money between individuals, though... for example, my boyfriend's parents and I went in on a Christmas gift for him. I bought it and his mom mailed me a check for their portion. I had no idea everyone just did electronic transfers in Europe!

I think waiting longer than two weeks is rude. I can understand a week... not everyone has a smartphone, not everyone has a bank with a deposit app that works well (mine doesn't, and now I have a Windows Phone so I don't think the app works at all), and it might take you a week to get to your bank. I keep a $1k buffer in my checking account, and I know you can put outstanding checks in Mint, but it still annoys me for some reason.

johnny847

  • Magnum Stache
  • ******
  • Posts: 3196
    • My Blog
Re: Rude to not cash your cheque promptly
« Reply #25 on: January 27, 2015, 09:05:03 AM »
Part of the problem is that, like a lot of people around here, I like to keep the amount in our checking account fairly low and put the extra either into investments or (for short-term savings) our money market account.

Think about it this way. Because the payee is not cashing the check promptly, you have money in your checking account longer than you "should." Meaning that it is still earning interest while it sits in your bank account instead of the payee's.
Of course this requires that you have an interest bearing checking account. And nowadays interest is virtually nothing.

caliq

  • Pencil Stache
  • ****
  • Posts: 675
Re: Rude to not cash your cheque promptly
« Reply #26 on: January 27, 2015, 09:25:42 AM »
I know you can put outstanding checks in Mint, but it still annoys me for some reason.

Thanks for mentioning this -- I had no idea you could do that!  It might resolve my annoyance with delayed check cashing :D  Though I am INTJ so maybe not...

Also, you're right that most US companies do direct deposit paychecks at this point.  The only jobs I've had where they still did checks were small retail-ish companies with less than 25-ish employees.  And they were small town family businesses being run by fairly elderly people, so I think it was more a matter of not wanting to change a system they'd used for such a long time. 

I write checks for some medical co-pays, for our car payment (-ducks facepunches-) which is to a small credit union 8+ hours away from where we live now that has the world's most frustrating/annoying/confusing/stupid online banking system, to the town dump when I dispose of something bulky and forget cash, and other town services that don't have online payment options (dog registration, annual sewer bill, marriage license - obviously a one-off but it was fairly recent, etc).  Town population is only like 3000 people so we don't have much in the way of modernity ;D

I don't start to get annoyed until it's been more than a week or so, but after that there's really no excuse.  It's not hard to deposit a check.

Jack

  • Magnum Stache
  • ******
  • Posts: 4734
  • Location: Atlanta, GA
Re: Rude to not cash your cheque promptly
« Reply #27 on: January 27, 2015, 11:07:12 AM »
(I asked him- if he knew I lost the check, why didn't he tell me? Apparently he was just going to keep it on the ledger forever.)

Failing to cash a check promptly is rude, and reminding someone to cash a check (implying that you're annoyed they haven't done it yet) is also rude. It's a vicious cycle.

partgypsy

  • Magnum Stache
  • ******
  • Posts: 3394
Re: Rude to not cash your cheque promptly
« Reply #28 on: January 27, 2015, 12:06:23 PM »
(I asked him- if he knew I lost the check, why didn't he tell me? Apparently he was just going to keep it on the ledger forever.)

Failing to cash a check promptly is rude, and reminding someone to cash a check (implying that you're annoyed they haven't done it yet) is also rude. It's a vicious cycle.

I don't think it's rude. If months go by you can say, hey, did you lose the check I sent you, I noticed it hasn't cashed yet.
I agree that it is also rude to not cash/deposit check promptly, unless you are planning not to cash it at all.

oldmannickels

  • Stubble
  • **
  • Posts: 198
Re: Rude to not cash your cheque promptly
« Reply #29 on: January 27, 2015, 12:09:34 PM »
If you ask me, what is really rude is paying with a check.

No what is rude is asking me to pay with a check....and then not cashing it for a month.

Zikoris

  • Magnum Stache
  • ******
  • Posts: 3486
  • Age: 33
  • Location: Vancouver, BC
  • Vancouverstachian
Re: Rude to not cash your cheque promptly
« Reply #30 on: January 27, 2015, 12:28:13 PM »
Ugh, this reminds me why I avoid cheques like the plague. I had one apartment where I needed to write cheques to another tenant for my portion of utilities, and he was HORRIBLE about getting around to cashing them because he frequently left town for long stretches. Sometimes he would hang on to one for a month, and I had no way of contacting him to see if he lost it, or it was stolen by housemates during his absence, or whatever. Drove me nuts.

We also had the following conversation more times than I remember:
Him: Hey! You owe me money for utilities!
Me: Yes, I have my cheque book here, how much do I owe you?
Him: Uh... it's been around $X-$X per month for the last few months... I think.
Me: Can you give me a dollar amount to put on the cheque? (I'm holding a cheque book and pen at this point)
Him: I'll double check and put a note under your door with the amount.
Me: Great!
*A couple days pass, nothing - I go to his unit to investigate*
His roommate: Oh, he left town - he'll be back in three weeks!
*repeat over and over*

mak1277

  • Pencil Stache
  • ****
  • Posts: 788
Re: Rude to not cash your cheque promptly
« Reply #31 on: January 27, 2015, 02:45:04 PM »
I almost never cash checks timely...it never occurred to me that I was being rude.  "Balancing your checkbook" means that you keep track of the balance including outstanding checks.  That's the entire point of balancing it.  Don't accuse me of being rude because you're either too dumb or too lazy to balance your checkbook and know what checks are outstanding.

When I write a check, I'm always hoping the recipient NEVER cashes it...sadly it doesn't usually work out that way.

voidmain

  • 5 O'Clock Shadow
  • *
  • Posts: 20
  • Location: Bay Area
Re: Rude to not cash your cheque promptly
« Reply #32 on: January 27, 2015, 02:55:47 PM »
I almost never cash checks timely...it never occurred to me that I was being rude.  "Balancing your checkbook" means that you keep track of the balance including outstanding checks.  That's the entire point of balancing it.  Don't accuse me of being rude because you're either too dumb or too lazy to balance your checkbook and know what checks are outstanding.

When I write a check, I'm always hoping the recipient NEVER cashes it...sadly it doesn't usually work out that way.

I have perfectly adequate finances and I hate when people don't cash them quickly. Maybe "rude" isn't the right word, but its really annoying. I hate owing people money just as much as I hate people owing me money. I'm neither dumb nor lazy - I'm well aware of when I still have checks to be cached, and I certainly have no chance of overdrafting, its just more work to keep track of. For those of us who are somewhat OCD about their finances, it is absolutely frustrating, and judging by the responses here, plenty of folks agree
« Last Edit: January 27, 2015, 03:04:49 PM by voidmain »

Catbert

  • Handlebar Stache
  • *****
  • Posts: 1713
  • Location: Southern California
Re: Rude to not cash your cheque promptly
« Reply #33 on: January 27, 2015, 03:03:49 PM »
About the only time I write checks that aren't always promptly cashed are for presents.  For me "not promptly cashed" is where it's two or more banking cycles behind e.g., I write you a check for Christmas that is still outstanding when I reconcile my February statement.  A couple of weeks or a month, I don 't care.

Why to I care?  First I have to keep remembering to track it when I reconcile each month.  When it is cashed, I may need to spend a moment or two figuring/remembering who the check was originally written to. Lastly I've sometimes called people to ask, did you get the check?  Did you lose it?  WTF?

mak1277

  • Pencil Stache
  • ****
  • Posts: 788
Re: Rude to not cash your cheque promptly
« Reply #34 on: January 27, 2015, 03:06:37 PM »
About the only time I write checks that aren't always promptly cashed are for presents.  For me "not promptly cashed" is where it's two or more banking cycles behind e.g., I write you a check for Christmas that is still outstanding when I reconcile my February statement.  A couple of weeks or a month, I don 't care.

Why to I care?  First I have to keep remembering to track it when I reconcile each month.  When it is cashed, I may need to spend a moment or two figuring/remembering who the check was originally written to. Lastly I've sometimes called people to ask, did you get the check?  Did you lose it?  WTF?

I think it *is* rude not to acknowledge the receipt of a check that was given as a gift.

The misanthropic part of me now wants to wait even LONGER when cashing checks I receive after reading people's responses in this thread.

ruthiegirl

  • Bristles
  • ***
  • Posts: 337
Re: Rude to not cash your cheque promptly
« Reply #35 on: January 27, 2015, 03:15:02 PM »
I never thought of it as being rude, but I did get called out a few weeks ago by my aunt. 

She had sent the kids checks for Christmas and I hadn't gotten around to cashing them.  We have four kids, she sent four $5 checks.  So, I diligently deposited each of them with my phone. 

I hate checks.  Half and hour to photograph the front and back of each check and deposit them with my lame phone. 

I could have biked to the bank and back in less time.  See, that was my mistake.  I think most of my problems can be solved with a bike ride. 

BlueMR2

  • Handlebar Stache
  • *****
  • Posts: 2008
Re: Rude to not cash your cheque promptly
« Reply #36 on: January 27, 2015, 03:52:42 PM »
It bugs my wife when people are slow to cash checks.  Me, not so much.  I've already subtracted it in my ledger, so it's not like I'm going to accidentally overdraw the account.  From my POV, it's already "gone".  Worst case the money that they could have already sits in my account for a bit and earns me an extra penny of interest.

nereo

  • Senior Mustachian
  • ********
  • Posts: 10764
  • Location: Just south of Canada
    • Here's how you can support science today:
Re: Rude to not cash your cheque promptly
« Reply #37 on: January 27, 2015, 04:07:29 PM »
For starters, I find the nationalistic bashing of the US to be pretty rude.  Every country has different systems a customs.
Also, I think some people outside the US think we pay for checks with everything. I might write four checks/year and receive about as many.  The bulk of check-writers seem to be older individuals who were adults before automated banking began in earnest in the 1980s.
Yes, almost all businesses pay their employees via direct deposit.  Some individuals and businesses like accepting checks because they don't have hefty cc fees.
Still, I prefer to pay individuals via direct deposit. 

That said, to address the OP, I'm not sure I would go so far as to call it rude, but I think it is in poor form not to cash a check in 1-2 weeks.  The main reason I think this is that the transaction isn't complete until the check is deposited, and you are basically holding someone in your debt until you cash the check.  If it is a gift there is an uncertainty until it is cashed; it could get lost in the mail or misfiled.  If it was lost I would want to cancel the check and reissue a new one.   If it is for services rendered I cannot be certain that the business/individual won't come back to me claiming I failed to pay them.

ruthiegirl

  • Bristles
  • ***
  • Posts: 337
Re: Rude to not cash your cheque promptly
« Reply #38 on: January 27, 2015, 04:23:55 PM »
For starters, I find the nationalistic bashing of the US to be pretty rude.  Every country has different systems a customs.

I thought it was pretty damn funny.  Having lived outside of the US, our banking system really does seem antiquated.  Checks are something grandparents might have used, like wash boards or slide rules.

And person to person money transfers are awesome.  I am waiting for the day when we can do this here. 

mbk

  • Stubble
  • **
  • Posts: 131
Re: Rude to not cash your cheque promptly
« Reply #39 on: January 27, 2015, 05:12:35 PM »
I find it very inconvenient if someone don't cash their check in reasonbale time frame. I share internet with my neighbor and one time she didn't cash my share of bill for a long time. I forgot about the check and cashed out the account for some purpose. Then boom, $35 penalty and I paid her share of penalty also for bounced check. Before writing checks, I used to give cash, but then disagreement arose about my share for a particular month.

Another time, I wrote two checks for large amounts to my friend with the intention that he will cash them over 2month period.  I wrote two dates on the checks. Since he lives far away, I mailed them together. I was shocked to see both of them cashed at the same time and one of them was post-dated check. Came to know even a post-dated check can be cashed any-time and I ended up paying penalty again. Lesson learned. Communicate!

Timmmy

  • Bristles
  • ***
  • Posts: 446
  • Age: 36
  • Location: Madison Heights, Michigan
Re: Rude to not cash your cheque promptly
« Reply #40 on: January 27, 2015, 05:17:44 PM »

When a business does this, it makes me think they're trying to fuck me over in the hopes I'll bounce the cheque so they can collect an additional "$40 NSF fee".


If one of my clients sends me a check I'm cashing it ASAP.  I can't imagine that any business would risk having a check bounce in hopes that they can then collect the check amount PLUS the nsf fee. 

For starters, I find the nationalistic bashing of the US to be pretty rude.  Every country has different systems a customs.

I thought it was pretty damn funny.  Having lived outside of the US, our banking system really does seem antiquated.  Checks are something grandparents might have used, like wash boards or slide rules.

And person to person money transfers are awesome.  I am waiting for the day when we can do this here. 

I also thought it was funny.  And I've never lived outside the US but know enough about our antiquated banking systems to know they are worthy of mocking. 

dorothyc

  • Bristles
  • ***
  • Posts: 250
  • Age: 59
  • Location: Los Angeles
Re: Rude to not cash your cheque promptly
« Reply #41 on: January 27, 2015, 05:24:18 PM »
Is there even really a need to use checking anymore?

With most banks nowadays you can electronically transfer money instantly to anyone free of charge.  I don't think I've written a check in almost a decade.

I can pay online with my bank. However, for individuals all the bank does is print a check and mail it to them. It is a slower process than if I just write a check and hand it to the individual.  I wish I could do electronic instant transfers for free. I guess maybe we will get that in another 15 years or something. I am not aware of any US banks that offer it.

Also, when the bank mails a check on your behalf, they debit your account as they print the check, not when the individual cashes it, so if you have a dispute about actually having paid a bill, it's harder to prove the person actually received it.

johnny847

  • Magnum Stache
  • ******
  • Posts: 3196
    • My Blog
Re: Rude to not cash your cheque promptly
« Reply #42 on: January 27, 2015, 05:26:45 PM »
And person to person money transfers are awesome.  I am waiting for the day when we can do this here.
While it's not a common feature provided directly by banks in the US, you can do it easily with a 3rd party service like Venmo or Square Cash

nereo

  • Senior Mustachian
  • ********
  • Posts: 10764
  • Location: Just south of Canada
    • Here's how you can support science today:
Re: Rude to not cash your cheque promptly
« Reply #43 on: January 27, 2015, 06:37:38 PM »

I thought it was pretty damn funny.  Having lived outside of the US, our banking system really does seem antiquated.  Checks are something grandparents might have used, like wash boards or slide rules.
Alright, point taken.  Maybe I need to relax a bit more and not take offense as easily.  I guess it was kinda funny...
..and yes, checks are antiquated.  My point was that they're not very common.  credit, cash and direct deposit make up the bulk of transfers these days.

Janie

  • Guest
Re: Rude to not cash your cheque promptly
« Reply #44 on: January 27, 2015, 08:19:44 PM »
Quote
Also, you're right that most US companies do direct deposit paychecks at this point.

My (U.S.) employer pays solely by direct deposit, but to set it up they required…a voided check from my account. And no, they wouldn't just accept the routing and account number (I asked).

caliq

  • Pencil Stache
  • ****
  • Posts: 675
Re: Rude to not cash your cheque promptly
« Reply #45 on: January 27, 2015, 08:27:36 PM »
Quote
Also, you're right that most US companies do direct deposit paychecks at this point.

My (U.S.) employer pays solely by direct deposit, but to set it up they required…a voided check from my account. And no, they wouldn't just accept the routing and account number (I asked).

Lol, my husband's last employer did too.  Mine had a standard form with routing number/account number though.

Indexer

  • Handlebar Stache
  • *****
  • Posts: 1407
Re: Rude to not cash your cheque promptly
« Reply #46 on: January 27, 2015, 09:14:27 PM »
Quote
Also, you're right that most US companies do direct deposit paychecks at this point.

My (U.S.) employer pays solely by direct deposit, but to set it up they required…a voided check from my account. And no, they wouldn't just accept the routing and account number (I asked).

If its a bank with local branches you can have the banker just type a letter stating John Smiths's routing number is ###### and his account number is #####.  Signed:  banker.  Banker attaches his business card.

The reason they have you attach a voided check is because such a large % of the US population can't properly read the routing and account number.  The employee's money ends up going into someone else's account or into the hidden world of missing electronic funds.  Now its a nightmare for the company HR and the banks to fix all while the employee is whining like a little baby because they don't have money for an extra week... they live paycheck to paycheck of course... and they can't fathom that its their fault this happened.  Yes... this happens ALL the time, enough that most banks have dedicated people just for managing all the missing electronic funds.  In very unlucky situations the money goes into someone else's account and that person spends it.  In this case the employee is SOL because they filled out the form so the bank nor HR is liable for the error so 'legally' they just gave a stranger their paycheck. 

HR wants a voided check so HR can manually type in the numbers and know its the right numbers.  They will accept a letter from the bank because if its wrong its the bank's fault.  Some companies won't even accept a voided check.  They will only accept a written letter from the bank or they have the bank fill out their forms for you, and the banker has to sign or they won't accept it.  (I use to be a banker.)


On topic:  I hate checks, and I hate it when people sit on them.  After all my bills are paid and my cash back cards are paid off I leave exactly $500 in my checking account and the excess goes to Vanguard.  Now I have to mentally remind myself that I need to keep X+500 in checking.  Thats ok for a week or two, but after that you are screwing up my mojo!  Now I only write less than 6 checks a year... and most around Christmas for 529 contributions.

Albert

  • Handlebar Stache
  • *****
  • Posts: 1254
  • Location: Switzerland
Re: Rude to not cash your cheque promptly
« Reply #47 on: January 27, 2015, 09:25:12 PM »
A bit off-topic: any Europeans here old enough to remember how it was done before the widespread availability of direct transfers? I grew up in Soviet block and there it was just cash, but perhaps in the West there were checks like in USA?

Wildflame

  • 5 O'Clock Shadow
  • *
  • Posts: 85
Re: Rude to not cash your cheque promptly
« Reply #48 on: January 28, 2015, 03:50:09 AM »
Wow. The last time I had to write a cheque was on my dad's behalf for one company that didn't accept EFT or credit card payments... back in 2007... when my folks were on holiday overseas.

Now that I think about that, that's the only personal cheque I have ever written or received.

I certainly agree with the idea that it'd be rude to hang on to a personal cheque more than a week or two, but on the flipside I'd consider it rude if someone offered me a personal cheque that I'd have to go and deposit myself (or download an app, take a photo, etc) instead of just making an EFT deposit straight into my account from theirs, easypeasy. I sure as hell hate receiving business cheques, but those are few and far between, anyway.

cjottawa

  • Stubble
  • **
  • Posts: 152
Re: Rude to not cash your cheque promptly
« Reply #49 on: January 28, 2015, 05:34:08 AM »
Here's an alternative if you frequently pay friends who are awful at cashing cheques:

Have them add one of their credit cards as a "payee" in one of your online banks. Anytime you need to pay them, make a payment to their credit card.

It's been my experience the people who are worst at cashing cheques are also carrying a balance on an AMEX and won't object to this setup. (it was one of those friends who suggested this to me)
« Last Edit: January 28, 2015, 05:40:59 AM by cjottawa »