Author Topic: Rude to not cash your cheque promptly  (Read 34547 times)

guitar_stitch

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Re: Rude to not cash your cheque promptly
« Reply #50 on: January 28, 2015, 08:40:30 AM »
Delay cashing that check all you want!  The longer you hold that check, the more interest I'm collecting off of what is now your money!  (Granted, the return rate is insignificant)

From an accounting standpoint, I hate having anything floating over my head.  However, my ledger helps me determine what's still out there.

ruthiegirl

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Re: Rude to not cash your cheque promptly
« Reply #51 on: January 28, 2015, 10:46:03 AM »
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

Cool, thanks for the ideas.  I haven't used either of these services, but will check them out. 

mak1277

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Re: Rude to not cash your cheque promptly
« Reply #52 on: January 28, 2015, 11:13:19 AM »
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

Cool, thanks for the ideas.  I haven't used either of these services, but will check them out.

CapitalOne360 allows P2P transfers as well.  I've done it twice this week already.

SpinGeek

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Re: Rude to not cash your cheque promptly
« Reply #53 on: January 28, 2015, 11:48:25 AM »
My crappy local credit union allows P2P payments with a name and email address or mobile number. So does Paypal.

That said, doesn't anybody keep some kind of account register anymore? Or do you just trust your bank that much? Maybe because I opened my first checking account when debit cards were relatively new and deposits could take up to six days to clear, I never trust the balance on the ATM screen to tell the whole story. (Yes, I remember keeping a handwritten check register and being thankful for carbon-copy checks so I didn't have to write it down at the cash register.) Record the check, subtract it from the running total (or have Quicken/Mint do it for you), go on with life.

I know many people don't balance their checkbooks. It kills a little piece of my accountant heart to think about it.

lostamonkey

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Re: Rude to not cash your cheque promptly
« Reply #54 on: January 28, 2015, 12:05:09 PM »
I live in Canada. Most young people pay each other through electronic transfers and old people use cheques. I have never paid with a cheque in my life, and I don't think I will ever have to.

Timmmy

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Re: Rude to not cash your cheque promptly
« Reply #55 on: January 28, 2015, 12:09:55 PM »
My crappy local credit union allows P2P payments with a name and email address or mobile number. So does Paypal.

That said, doesn't anybody keep some kind of account register anymore? Or do you just trust your bank that much? Maybe because I opened my first checking account when debit cards were relatively new and deposits could take up to six days to clear, I never trust the balance on the ATM screen to tell the whole story. (Yes, I remember keeping a handwritten check register and being thankful for carbon-copy checks so I didn't have to write it down at the cash register.) Record the check, subtract it from the running total (or have Quicken/Mint do it for you), go on with life.

I know many people don't balance their checkbooks. It kills a little piece of my accountant heart to think about it.

I'm an accountant who doesn't "balance my checkbook".  I just don't see it as required.  I've got a pretty good idea of the balance at any point and I don't run close enough to $0 to worry about overdrafting.  I check the balance occasionally and review transactions for accuracy. 

AJ

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Re: Rude to not cash your cheque promptly
« Reply #56 on: January 28, 2015, 01:53:01 PM »
I understand how it might be annoying to have outstanding checks. However, if you paid me with a check, you just assigned me an errand to run, "Here's that money I owe you, plus some chores!" I will run the errand at my leisure. If it bothers you, don't pay with checks.

I have a co-worker who refuses to deposit any checks smaller than $10. She just throws them away, saying it isn't worth the hassle to deposit (I have tried to convince her to give them to me, but no dice).

Delay cashing that check all you want!  The longer you hold that check, the more interest I'm collecting off of what is now your money!

Ha ha, yep!

rocketpj

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Re: Rude to not cash your cheque promptly
« Reply #57 on: January 28, 2015, 02:06:10 PM »
One of the primary uses of cheques for me is when I need to provide a void cheque for some automatic payment or other.

Some kids activities still require payment by cheque, for whatever reason.  And right now I have two post-dated cheques for several thousand dollars in my wallet (someone has bought my boat with postdated cheques).  I don't like carrying them around, but don't have a lot of choice at least until I get into my bank for some reason.

Cheques do seem like a relic from a bygone age, but on the rare occasions I write one I very much prefer it be cashed sooner than later.  That said, I don't invest a hell of a lot of energy in giving a crap one way or another.

slugline

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Re: Rude to not cash your cheque promptly
« Reply #58 on: January 28, 2015, 02:12:22 PM »
I have a co-worker who refuses to deposit any checks smaller than $10. She just throws them away, saying it isn't worth the hassle to deposit (I have tried to convince her to give them to me, but no dice).

I wonder if somewhere out there are billionaires that do the same for any checks with fewer than five figures.

Zikoris

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Re: Rude to not cash your cheque promptly
« Reply #59 on: January 28, 2015, 02:13:34 PM »
My crappy local credit union allows P2P payments with a name and email address or mobile number. So does Paypal.

That said, doesn't anybody keep some kind of account register anymore? Or do you just trust your bank that much? Maybe because I opened my first checking account when debit cards were relatively new and deposits could take up to six days to clear, I never trust the balance on the ATM screen to tell the whole story. (Yes, I remember keeping a handwritten check register and being thankful for carbon-copy checks so I didn't have to write it down at the cash register.) Record the check, subtract it from the running total (or have Quicken/Mint do it for you), go on with life.

I know many people don't balance their checkbooks. It kills a little piece of my accountant heart to think about it.

Not me. Why bother? I only write one cheque a month, for my rent. My credit card transactions always post within 48 hours, and I don't use my bank accounts except to pay rent, my credit card bill, and transfer money into my investment account. Mint does provides every type of record keeping I need.

Timmmy

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Re: Rude to not cash your cheque promptly
« Reply #60 on: January 28, 2015, 02:22:19 PM »
I understand how it might be annoying to have outstanding checks. However, if you paid me with a check, you just assigned me an errand to run, "Here's that money I owe you, plus some chores!" I will run the errand at my leisure. If it bothers you, don't pay with checks.

I have a co-worker who refuses to deposit any checks smaller than $10. She just throws them away, saying it isn't worth the hassle to deposit (I have tried to convince her to give them to me, but no dice).

Delay cashing that check all you want!  The longer you hold that check, the more interest I'm collecting off of what is now your money!


Ha ha, yep!

Mobile deposit much?  Takes about 30 seconds. Can be done anywhere. 
« Last Edit: January 28, 2015, 02:27:26 PM by Timmmy »

ABC123

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Re: Rude to not cash your cheque promptly
« Reply #61 on: January 28, 2015, 02:23:56 PM »
I actually do write a fair number of checks.  Our water bill can't be paid by cc, and I don't really want to drive to city hall to pay in cash.  There are constantly things coming up for school -- lunch money, field trip, yearbook, etc. -- and I don't trust my kindergartener to carry cash.  We give to our church by check.  Daycare is paid by check.  I admit, I do actually keep up the check register, and balance it every month so I always know what is outstanding.  I rarely have a check that takes more than a week or two to be cashed.  I hate carrying cash around, and plenty of things don't take cc, so checks come in handy.

mak1277

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Re: Rude to not cash your cheque promptly
« Reply #62 on: January 28, 2015, 02:57:00 PM »
I understand how it might be annoying to have outstanding checks. However, if you paid me with a check, you just assigned me an errand to run, "Here's that money I owe you, plus some chores!" I will run the errand at my leisure. If it bothers you, don't pay with checks.

I have a co-worker who refuses to deposit any checks smaller than $10. She just throws them away, saying it isn't worth the hassle to deposit (I have tried to convince her to give them to me, but no dice).

Delay cashing that check all you want!  The longer you hold that check, the more interest I'm collecting off of what is now your money!


Ha ha, yep!

Mobile deposit much?  Takes about 30 seconds. Can be done anywhere.

I thought you had to have a flip phone to join the MMM cult :-)

FiguringItOut

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Re: Rude to not cash your cheque promptly
« Reply #63 on: January 28, 2015, 03:47:21 PM »
I wrote 3 checks for a total amount of $270 about 3.5 years ago.  They were for my daughter's tennis and karate classes through our local Policy Activity League.  Those checkes have not been chased as of yet.  I still have that back account open, but I plan on closing it over the summer.  If they ever find those checks and decide to cash them, they will have to find me and ask for new checks.

gaja

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Re: Rude to not cash your cheque promptly
« Reply #64 on: January 28, 2015, 04:11:19 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?

My parents (Nordic countries) had checkbooks when I was a kid. But a lot was paid in cash. Or if you transferred money over distance you could get the post office to issue a note, that the recipient could cash or deposit in his/her post office savings account. But I think even in the -80s, you could get the local bank (or post office) to do direct transfers for bills. Checks were an alternative to ATMs, to get cash for food, etc.

I still remember the smell of my freshly stamped post office gold book, after depositing my birthday money as a kid.

exranger06

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Re: Rude to not cash your cheque promptly
« Reply #65 on: January 28, 2015, 05:33:21 PM »
For those of you who wait weeks to cash/deposit checks (or sympathize with those who do), WHY do you wait so long? Do you not WANT money?? If I receive money, I can't wait to deposit it! If you don't want the money, just give the check back and save the giver of the check a lot of frustration (and money). And don't give me a bullshit line of "it's such a hassle to go to the bank." Really? You couldn't find ANY time over the course of 3 weeks to go to the bank? You couldn't have stopped on the way home from work? The bank doesn't even have to be open; you can deposit it at the ATM.

Paul der Krake

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Re: Rude to not cash your cheque promptly
« Reply #66 on: January 28, 2015, 06:19:54 PM »
For those of you who wait weeks to cash/deposit checks (or sympathize with those who do), WHY do you wait so long? Do you not WANT money?? If I receive money, I can't wait to deposit it! If you don't want the money, just give the check back and save the giver of the check a lot of frustration (and money). And don't give me a bullshit line of "it's such a hassle to go to the bank." Really? You couldn't find ANY time over the course of 3 weeks to go to the bank? You couldn't have stopped on the way home from work? The bank doesn't even have to be open; you can deposit it at the ATM.
With Fidelity's checking account, if the remote deposit is rejected you have to send it in using an envelope and a stamp. So at the very least I would wait until I have another check to deposit.

Now I have a secondary account with a local branch with an ATM that's just a short bike ride away so I don't hold on to them anymore.

Dimitri

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Re: Rude to not cash your cheque promptly
« Reply #67 on: January 28, 2015, 08:38:22 PM »
...
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!

You needed to instruct your bank not to honor the check prior to the date per UCC Section 4-401. 

U.C.C. - ARTICLE 4 - BANK DEPOSITS AND COLLECTIONS (2002) › PART 4. RELATIONSHIP BETWEEN PAYOR BANK AND ITS CUSTOMER › § 4-401. WHEN BANK MAY CHARGE CUSTOMER's ACCOUNT.
...
(c) A bank may charge against the account of a customer a check that is otherwise properly payable from the account, even though payment was made before the date of the check, unless the customer has given notice to the bank of the postdating describing the check with reasonable certainty....
http://www.law.cornell.edu/ucc/4/4-401

windawake

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Re: Rude to not cash your cheque promptly
« Reply #68 on: January 28, 2015, 08:55:19 PM »
I'm guilty of holding onto checks for awhile before I cash them. I don't have a car and my bank is not conveniently located. My other option, until a couple weeks ago when I learned my small bank finally has a mobile deposit app, was to mail in checks. This required stamps, and the foresight to always have envelopes handy. I don't love mailing checks so I'd wait until I had a few and send them in together so I could keep an eye on them to make sure they arrived safely.

It may be inconvenient to wait for a check to be deposited, but in my case, it was very inconvenient to deposit a check.

hdatontodo

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Re: Rude to not cash your cheque promptly
« Reply #69 on: January 28, 2015, 09:01:11 PM »
I give the school PTA cash now since they sit on checks for so long.

Dimitri

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Re: Rude to not cash your cheque promptly
« Reply #70 on: January 28, 2015, 10:01:24 PM »
...
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!

You needed to instruct your bank not to honor the check prior to the date per UCC Section 4-401. 

U.C.C. - ARTICLE 4 - BANK DEPOSITS AND COLLECTIONS (2002) › PART 4. RELATIONSHIP BETWEEN PAYOR BANK AND ITS CUSTOMER › § 4-401. WHEN BANK MAY CHARGE CUSTOMER's ACCOUNT.
...
(c) A bank may charge against the account of a customer a check that is otherwise properly payable from the account, even though payment was made before the date of the check, unless the customer has given notice to the bank of the postdating describing the check with reasonable certainty....
http://www.law.cornell.edu/ucc/4/4-401

Read the full text of that section. It goes on to say that you have to give the bank notice of the postdated check before they act on the check, if you want them not to cash it before the date on the check. In other words, the section is irrelevant to this situation.

Maybe my English is not so good and I didn't phrase it right but what I was writing was that she needed to let her bank know that she didn't want the check cashed prior to the date of the check (which is what I understand what I wrote to mean - You needed to instruct your bank not to honor the check prior to the date per UCC Section 4-401.). 

The time to do that I would think is obviously before it is acted upon - I didn't think I would have to spell that out.

paddedhat

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Re: Rude to not cash your cheque promptly
« Reply #71 on: January 29, 2015, 07:18:03 AM »
I give the school PTA cash now since they sit on checks for so long.

I always wondered if I was an outlier regarding this issue? My kids are in their early 20s now, but back when they were grade schoolers, check writing was far more common. My wife and I eventually reached the conclusion that many parents who ran programs, such as Brownies, PTA or similar, were simply incapable of dealing with simple financial tasks , and could not be trusted to handle checks.  It was common to have  2-4 checks to organizations that were floating around for months,, or lost by irresponsible moms. In our case it had nothing to do with a danger of bouncing another check, when a long forgotten one was cashed, it was just the irritation of dealing with folks who couldn't handle a basic task. We tried to switch to hand delivered cash, but we even had one Brownie leader take my cash, record it in her ledger, then tell me that I owed it, weeks later. I had to make her open her ledger, then show here where SHE recorded the transaction!

As for those that claim to never write checks, I would love that, but it really isn't practical. Several transactions in my world, including anything involving local government business, are pretty much limited to checks. My real estate taxes are four separate payments. School, county, and two smaller ones. They all are paid by check, and mailed in with a SASE and all copies of the bill. A copy is sent back as stamped and certified. I could do all this, with cash, and in person, but here in rural America, the local tax collector tends to keep some very limited and inconvenient hours, and the "Office" is often an enclosed porch on the side of their house, in the middle of nowhere.

The other odd reason to own a checkbook is that we are serious RVers, who travel for months at a time. We occasionally hit a campground or other service provider, in a remote location, who is happy to take an out of state check, but refuses a credit card. On other occasions we end up at a campground, after closing, and find a self-check in setup. The choices are often pretty bad, including listing all your CC info. on the outside of an envelope, or filling it with the exact amount of cash. I then write a check. I don't have to worry about CC fraud, or anybody claiming that I didn't put cash in the envelope.
« Last Edit: January 29, 2015, 07:21:42 AM by paddedhat »

MrsSmitty

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Re: Rude to not cash your cheque promptly
« Reply #72 on: January 29, 2015, 07:43:11 AM »
I find it very annoying when people don't cash them immediately. I wrote a check to a contractor for replacing our furnace over two weeks ago and he still hasn't cashed it. If it was $50 or $100 no big deal. But I hate hate HATE having an extra $3500 in my checking doing nothing because he won't cash it. Just take my money!

James

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Re: Rude to not cash your cheque promptly
« Reply #73 on: January 29, 2015, 07:51:28 AM »
I hate checks. I hate writing them, I hate cashing the, I hate signing them, I hate everything about them. :)


Sure it's rude to not cash a check for a long time, but if you care that much just give cash. I love paypal, wish everyone would switch to things like that. It would push the progress of moving money around more quickly. In my ideal future money flows securely from one person to the other without paper and with minimal cost. Why should it cost a lot of money or take paper? It's just computers talking behind the scenes at this point.

Dimitri

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Re: Rude to not cash your cheque promptly
« Reply #74 on: January 29, 2015, 08:01:27 AM »
I find it very annoying when people don't cash them immediately. I wrote a check to a contractor for replacing our furnace over two weeks ago and he still hasn't cashed it. If it was $50 or $100 no big deal. But I hate hate HATE having an extra $3500 in my checking doing nothing because he won't cash it. Just take my money!

Just an idea but if you had a Schwab Bank High Yield Investor Checking Account your money would be earning 10 basis points while your contractor was holding the check.

What are the fees and minimums?
  • Monthly service fees: $0
  • Account minimum: $0
What do I get with this account?
  • Unlimited fee rebates from any ATM worldwide
  • A 0.10% APY variable interest rate on any balance
  • Free bill pay on Schwab.com and Schwab Mobile
  • Apply for Schwab Mobile Deposit™ to deposit checks from anywhere
  • Free standard checks and a Visa® Platinum debit card once the account has been funded.
  • FDIC insurance up to $250,000
  • A linked Schwab One® brokerage account

http://www.schwab.com/public/schwab/banking_lending/checking_account

johnny847

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Re: Rude to not cash your cheque promptly
« Reply #75 on: January 29, 2015, 08:08:40 AM »
I find it very annoying when people don't cash them immediately. I wrote a check to a contractor for replacing our furnace over two weeks ago and he still hasn't cashed it. If it was $50 or $100 no big deal. But I hate hate HATE having an extra $3500 in my checking doing nothing because he won't cash it. Just take my money!

Just an idea but if you had a Schwab Bank High Yield Investor Checking Account your money would be earning 10 basis points while your contractor was holding the check.

What are the fees and minimums?
  • Monthly service fees: $0
  • Account minimum: $0
What do I get with this account?
  • Unlimited fee rebates from any ATM worldwide
  • A 0.10% APY variable interest rate on any balance
  • Free bill pay on Schwab.com and Schwab Mobile
  • Apply for Schwab Mobile Deposit™ to deposit checks from anywhere
  • Free standard checks and a Visa® Platinum debit card once the account has been funded.
  • FDIC insurance up to $250,000
  • A linked Schwab One® brokerage account

http://www.schwab.com/public/schwab/banking_lending/checking_account
And this is exactly why from my point of view, the payee is doing you a favor by not cashing your check promptly.
I have a rewards checking account that earns 3% interest on the first $10k (and I never keep more than $10k in my bank accounts anyway), so the effect is far more dramatic for me.

sheepstache

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Re: Rude to not cash your cheque promptly
« Reply #76 on: January 29, 2015, 09:16:57 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.
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.

I don't think people are saying it's, like, a tragedy, just that it's annoying.

Like, if somebody on the internet says something you disagree with and it annoys you to the point that you write back in response to it.

And then it keeps popping up in your new replies page, so you're continually kept aware of it and keep replying back.

That kind of annoying.


On the general topic, I do agree if you insisted on receiving a check when the person would have been willing to pay in other ways, it does seem rude not to be on top of your shit enough to deposit it promptly.

BlueMR2

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Re: Rude to not cash your cheque promptly
« Reply #77 on: January 29, 2015, 10:21:28 AM »
Mobile deposit much?  Takes about 30 seconds. Can be done anywhere.

One would have to own a device capable of doing that.  Our household does not contain such spendy anti-mustachian devices.  :-)

Timmmy

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Re: Rude to not cash your cheque promptly
« Reply #78 on: January 29, 2015, 11:11:28 AM »
Mobile deposit much?  Takes about 30 seconds. Can be done anywhere.

One would have to own a device capable of doing that.  Our household does not contain such spendy anti-mustachian devices.  :-)

Come on now...  Be realistic.  My used tablet that I paid $50 for about 2 years ago can do this no problem.  So can my smart phone that is over 3 years old.  All while connected to any available wifi.  For that matter I could connect the old cracked screen iphone that someone gave me to wifi and do it.

I think(hope) you are being sarcastic.

mak1277

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Re: Rude to not cash your cheque promptly
« Reply #79 on: January 29, 2015, 04:08:23 PM »
Mobile deposit much?  Takes about 30 seconds. Can be done anywhere.

One would have to own a device capable of doing that.  Our household does not contain such spendy anti-mustachian devices.  :-)

Come on now...  Be realistic.  My used tablet that I paid $50 for about 2 years ago can do this no problem.  So can my smart phone that is over 3 years old.  All while connected to any available wifi.  For that matter I could connect the old cracked screen iphone that someone gave me to wifi and do it.

I think(hope) you are being sarcastic.

There are lots (and lots) of people that own neither a smartphone nor a tablet.  I know a decent amount of people, including my dad and my wife's parents, that have absolutely no way to remote deposit a check.

perummm

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Re: Rude to not cash your cheque promptly
« Reply #80 on: January 29, 2015, 04:37:51 PM »
My country makes it easier. You are required to keep available funds for 30 days after you sign the check.
After day 31, you can´t be held responsable for empty / closed account

johnny847

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Re: Rude to not cash your cheque promptly
« Reply #81 on: January 29, 2015, 04:54:04 PM »
My country makes it easier. You are required to keep available funds for 30 days after you sign the check.
After day 31, you can´t be held responsable for empty / closed account
Interesting. Which country is this?

couponvan

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Re: Rude to not cash your cheque promptly
« Reply #82 on: January 29, 2015, 10:32:18 PM »
I actually do write a fair number of checks.  Our water bill can't be paid by cc, and I don't really want to drive to city hall to pay in cash.  There are constantly things coming up for school -- lunch money, field trip, yearbook, etc. -- and I don't trust my kindergartener to carry cash.  We give to our church by check.  Daycare is paid by check.

+1 I always pay daycare a month in advance instead of weekly.  With 3 kids in school I can't stand the way our school is always one offing us for checks!  Just let me put $500 in each kids account and take it when you need it. $4 check only for the field trip, school planner, movie in class, etc. I swear I write 2-3 checks to them a week. All under $10. Ugh.  Otherwise I pretty much only do checks for property taxes. 

I used to be horrible about cashing checks before the smartphone app.  Now it's super easy!

lbdance

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Re: Rude to not cash your cheque promptly
« Reply #83 on: January 30, 2015, 12:46:28 AM »
In NZ there are very few cheques used. My husband however has one client for his business that pays by cheque (and I really don't know why) its the one trip I have to make to that bank every month. Also our cheques expire (for want of a better word) after 6 months.
I do think it is somewhat annoying if people were not to cash cheques promptly, especially for a business, so I try and make sure I walk to the bank within a week of receiving the cheque. I do think if it was for a larger amount I might be quicker, but this is normally <$100

agent_clone

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Re: Rude to not cash your cheque promptly
« Reply #84 on: January 30, 2015, 04:10:01 AM »
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?
In Australia there were certainly cheques and I believe they were fairly commonly used.  My parents certainly paid for sporting activities, and school activities via cheque.  However I don't know waht the arrangements were at supermarkets for supermarkets as I don't remember a time prior to plastic cards for credit cards.  I think for one of the rental places I stayed at while in uni the landlord had given us a deposit cheque book to pay the rent with.
I do remember that for bank accounts you used to have pass books (essentially a ledger with your account withdrawals and inputs).  I think I had a passbook until I was 18 and was eligible to get a debit card, however I could have a faulty memory on this (Aside from which I had little money at the time).

Timmmy

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Re: Rude to not cash your cheque promptly
« Reply #85 on: January 30, 2015, 07:41:45 AM »
Mobile deposit much?  Takes about 30 seconds. Can be done anywhere.

One would have to own a device capable of doing that.  Our household does not contain such spendy anti-mustachian devices.  :-)

Come on now...  Be realistic.  My used tablet that I paid $50 for about 2 years ago can do this no problem.  So can my smart phone that is over 3 years old.  All while connected to any available wifi.  For that matter I could connect the old cracked screen iphone that someone gave me to wifi and do it.

I think(hope) you are being sarcastic.

There are lots (and lots) of people that own neither a smartphone nor a tablet.  I know a decent amount of people, including my dad and my wife's parents, that have absolutely no way to remote deposit a check.

I'm going to go out on a limb here and say that the people you describe are very unlikely to be readers here.  A smart phone and/or tablet is a fantastic tool to vastly increase your efficiency in life.  And an efficient life is one of the core principles of MMM. 

sheepstache

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Re: Rude to not cash your cheque promptly
« Reply #86 on: January 30, 2015, 08:04:40 AM »
Mobile deposit much?  Takes about 30 seconds. Can be done anywhere.

One would have to own a device capable of doing that.  Our household does not contain such spendy anti-mustachian devices.  :-)

Come on now...  Be realistic.  My used tablet that I paid $50 for about 2 years ago can do this no problem.  So can my smart phone that is over 3 years old.  All while connected to any available wifi.  For that matter I could connect the old cracked screen iphone that someone gave me to wifi and do it.

I think(hope) you are being sarcastic.

There are lots (and lots) of people that own neither a smartphone nor a tablet.  I know a decent amount of people, including my dad and my wife's parents, that have absolutely no way to remote deposit a check.

I'm going to go out on a limb here and say that the people you describe are very unlikely to be readers here.  A smart phone and/or tablet is a fantastic tool to vastly increase your efficiency in life.  And an efficient life is one of the core principles of MMM.

I personally, don't have a smartphone or tablet.
Here's a poll where 20% of the respondents say they use no data. http://forum.mrmoneymustache.com/welcome-to-the-forum/how-much-cell-phone-data-do-you-consume-each-month/
That doesn't address people who might have a device but only use wi-fi, of course.

But efficiency means very different things to people.

Timmmy

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Re: Rude to not cash your cheque promptly
« Reply #87 on: January 30, 2015, 10:04:26 AM »
Mobile deposit much?  Takes about 30 seconds. Can be done anywhere.

One would have to own a device capable of doing that.  Our household does not contain such spendy anti-mustachian devices.  :-)

Come on now...  Be realistic.  My used tablet that I paid $50 for about 2 years ago can do this no problem.  So can my smart phone that is over 3 years old.  All while connected to any available wifi.  For that matter I could connect the old cracked screen iphone that someone gave me to wifi and do it.

I think(hope) you are being sarcastic.

There are lots (and lots) of people that own neither a smartphone nor a tablet.  I know a decent amount of people, including my dad and my wife's parents, that have absolutely no way to remote deposit a check.

I'm going to go out on a limb here and say that the people you describe are very unlikely to be readers here.  A smart phone and/or tablet is a fantastic tool to vastly increase your efficiency in life.  And an efficient life is one of the core principles of MMM.

I personally, don't have a smartphone or tablet.
Here's a poll where 20% of the respondents say they use no data. http://forum.mrmoneymustache.com/welcome-to-the-forum/how-much-cell-phone-data-do-you-consume-each-month/
That doesn't address people who might have a device but only use wi-fi, of course.

But efficiency means very different things to people.

I'm not sure what kind of efficiency is gained by not having the sum of the worlds learning available virtually anywhere anytime but whatever floats your boat. 

Melanie A

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Re: Rude to not cash your cheque promptly
« Reply #88 on: January 30, 2015, 10:31:26 AM »
I wouldn't necessarily described it as being rude but it can be annoying. I usually have it all written in a spreadsheet what the money is for but if it takes too long, I find it bothersome. I like updating my spreadsheet and keep everything up-to-date. I pay for parking on a monthly basis and I just transfer the money instead of a cheque, as I feel I'd probably keep forgetting. But when I pay for rent, since this amount goes to my SO, I just use a cheque as they're free.

LadyDriver

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Re: Rude to not cash your cheque promptly
« Reply #89 on: January 30, 2015, 02:44:07 PM »
Rude:

I interact with a lot of people who pay by check and live pretty close to the bone. If you don't cash a $20 check for months and they forget, it can cost them hundreds of bucks in bounced check fees that they need to spend on food and rent and heat.

I know that they should have their financial houses in order and not make the mistake, but it is unkind to make their lives harder.

BlueMR2

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Re: Rude to not cash your cheque promptly
« Reply #90 on: January 30, 2015, 03:30:06 PM »
I'm going to go out on a limb here and say that the people you describe are very unlikely to be readers here.  A smart phone and/or tablet is a fantastic tool to vastly increase your efficiency in life.  And an efficient life is one of the core principles of MMM.

Cars vastly increase the efficiency of long distance travel in life.  Doesn't mean you should own one.

And no joke, I have neither a smartphone nor tablet.  Typing this from an antique ASUS eeePC running Linux.  :-)

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Re: Rude to not cash your cheque promptly
« Reply #91 on: January 30, 2015, 08:20:02 PM »
I'm going to go out on a limb here and say that the people you describe are very unlikely to be readers here.  A smart phone and/or tablet is a fantastic tool to vastly increase your efficiency in life.  And an efficient life is one of the core principles of MMM.

Cars vastly increase the efficiency of long distance travel in life.  Doesn't mean you should own one.

And no joke, I have neither a smartphone nor tablet.  Typing this from an antique ASUS eeePC running Linux.  :-)

In 2006 I bought a T-Mobile prepaid flip phone and paid $100 for 1,000 minutes of airtime.  Each subsequent year I paid an additional $10 for some more airtime to enable me to roll over my minutes.  I did this for six years and I certainly didn't feel inefficient for not having a smart phone.

In 2012 at a new job the company gave me an Apple 4 phone so that coworkers could send me emails.  I did learn how to text on it after I asked my boss to show me how to reply to someone.  Frankly I had no love for it and no use for it outside of my job. 

Then late last year the company offered us $75 monthly reimbursement if we used personal phones.  So I went out and bought a Virgin Mobile prepaid Samsung phone and pay $35/month for phone/text/data.  It makes me money.  But does it make me more efficient?  Again I would say no.  All it does is provide a way for my company to make sure I get emails.  It is an electronic leash. 

When I move on to another job I'm going right back to my flip phone if I have any say in the matter.
« Last Edit: January 30, 2015, 09:26:17 PM by Dimitri »

Albert

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Re: Rude to not cash your cheque promptly
« Reply #92 on: January 31, 2015, 12:15:52 AM »
I have a lot of devices (laptop, iPad, kindle), but not a smartphone. I don't want to be one of those guys who instead of speaking with people they are with spend their time incessantly checking Facebook (which I also don't have) or playing candy crush. There are rare occasions when I wish I had one (for maps), but there is no real need. All I really need is being able to call and send SMS and my 60$ phone with a prepaid car is more than sufficient for that.

caliq

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Re: Rude to not cash your cheque promptly
« Reply #93 on: January 31, 2015, 08:13:48 AM »
I have a lot of devices (laptop, iPad, kindle), but not a smartphone. I don't want to be one of those guys who instead of speaking with people they are with spend their time incessantly checking Facebook (which I also don't have) or playing candy crush. There are rare occasions when I wish I had one (for maps), but there is no real need. All I really need is being able to call and send SMS and my 60$ phone with a prepaid car is more than sufficient for that.

iPad can use the mobile check depositing apps...

Albert

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Re: Rude to not cash your cheque promptly
« Reply #94 on: January 31, 2015, 08:50:14 AM »
iPad can use the mobile check depositing apps...

Yes, but not relevant to me since I live in Switzerland and we don't do checks.

Christof

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Re: Rude to not cash your cheque promptly
« Reply #95 on: January 31, 2015, 11:26:36 AM »
A bit off-topic: any Europeans here old enough to remember how it was done before the widespread availability of direct transfers?

Used to be cash being handed out weekly or biseekly in an enevlope (Lohntüte) usually on Friday. That changed in the late sixties to early seventies when direct money transfer was established. Not everyone liked the change, eg.

http://www.mao-projekt.de/BRD/DGB/Bargeldlose_Lohnzahlung.shtml

iPad can use the mobile check depositing apps...

You must have one of the newer iPads that have a camera. ;)
« Last Edit: January 31, 2015, 11:45:02 AM by Christof »

Tabaxus

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Re: Rude to not cash your cheque promptly
« Reply #96 on: February 04, 2015, 08:13:48 AM »
My landlord always, always, waits until the end of month X to cash the rent payment for month X, even though I have my bank  set to automatically send a check on the 26th of the previous month (to make sure it is always there by the 28th).

This moderately annoys me.  It means that I generally have two rent checks outstanding at the same time (he'll often cash the rent check for month X a day or two before the rent check for month X+1 gets sent out), which bothers me--I hate having checks floating out there, even though I keep a running tally on my "real" checking account balance (balance - outstanding CC balance - outstanding checks).   One time the landlord lost the check (asked if I ever sent it--not accusingly, but it still pissed me off).  I had to cancel the check and send a new one.  He seemed surprised that I took the check cancellation fee out of the rent.  You're damn right that's coming out of the rent, dude. 

One of the disadvantages to dealing with a "landlord as a side gig" person.  Fortunately, if he ever really tries to harass me, the fact that he is a "landlord as a side gig" also led him to make several mistakes in how he handled my security deposit, which would entitle me to 2x the deposit + the deposit when I move out, so I have a security blanket.  He's generally a really good guy, and the rent is below market for the area, so I never intend to sting him (and after I get my security deposit back, I intend to give him a head's up about the things he didn't do right so that he can fix the problems,) but still, come on.

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Re: Rude to not cash your cheque promptly
« Reply #97 on: February 05, 2015, 02:50:15 PM »
We actually decided not to renew a lease once because the landlord was so bad about holding onto checks (we're talking upwards of 2 months). The first few times, we calked him after a month to make sure he'd received it; his voice mail was always full. We briefly wondered if he had died. I think maybe he was just bad at life

partgypsy

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Re: Rude to not cash your cheque promptly
« Reply #98 on: February 05, 2015, 03:03:09 PM »
I had an otherwise decent rental management, but one time they said they didn't received our check, though I know I mailed it on time. So I went in person and wrote another check and made them swear if they found the other check to rip it up. 2 days later, they cash both checks at the same time, causing overdraft fees for that and 2 other transations. When I called to complain, they said how were they supposed to know, and they will just keep the money for next month (this was when I was poor graduate student). By happenstance told the story to a friend who was a lawyer who was so incensed for us he wrote a stern letter, and got the money and fees refunded.

johnny847

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Re: Rude to not cash your cheque promptly
« Reply #99 on: February 05, 2015, 03:08:59 PM »
I had an otherwise decent rental management, but one time they said they didn't received our check, though I know I mailed it on time. So I went in person and wrote another check and made them swear if they found the other check to rip it up. 2 days later, they cash both checks at the same time, causing overdraft fees for that and 2 other transations. When I called to complain, they said how were they supposed to know, and they will just keep the money for next month (this was when I was poor graduate student). By happenstance told the story to a friend who was a lawyer who was so incensed for us he wrote a stern letter, and got the money and fees refunded.
I'm not saying that what the rental company did wasn't wrong, but this is exactly why there is such a thing as a stop payment. You can cancel a check that you've given away but hasn't been cashed yet.
Of course, many banks charge a fee for this. Which again, you'd have to fight the rental company to refund you, because they were in the wrong.

Just some knowledge for the future. Oh and there are banks such as Charles Schwab that have no min balance requirements, no monthly maintenance fees, and do not charge for stop payments. They incidentally also don't charge for foreign transactions and reimburse ATM fees worldwide, making it the most effective way (as in, fee free way) to get local currency while abroad.