Holding Checks

[superme80]

My son's teacher from co-op did that last year. She JUST cashed the check in January. I wrote the check back in August!

 

[DisneyHardin]

I guess I don't see the issue. When I write a check, the money is gone, in my mind. It's on the recipient to get their money on their own schedule. If they're slow to cash, that's their business.

When I log into my account online to look at it, I have to remember to mentally subtract those checks that haven't cleared yet when I am checking how much money is there.

 

[bluezy]

I guess I don't see the issue. When I write a check, the money is gone, in my mind. It's on the recipient to get their money on their own schedule. If they're slow to cash, that's their business.

Exactly. I don't write very many checks, but it seems like most of the ones I do write tend to sit for weeks/months before being cashed. No big deal. I keep a ledger of checks written and put a little check mark by them once they clear the bank. I don't keep a running balance in my check book -- in this day and age I don't see a need for it. When I want to "balance" my account I simply look at the balance online and do a quick tally of checks I don't have marked as "cleared" and subtract that amount from the bank's balance. Easy peasy. I wish my life was so stress-free that "outstanding checks" were something that I had time to spend worrying about. I have so many more significant things to worry about. Oh, and I'll readily admit that I'm guilty of holding checks for a few weeks before cashing them. If my kids are doing a fundraiser and people pay me by check, those checks usually sit around for a few weeks because our bank doesn't have an ATM near us so I have to make a special trip (20 minute drive one way) to deposit them. I've now started depositing the checks through the bank's app so that should help (as long as the checks are legible and the app accepts them).

 

[barkley]

I guess I don't see the issue. When I write a check, the money is gone, in my mind. It's on the recipient to get their money on their own schedule. If they're slow to cash, that's their business.

I agree with this, but i'm also paranoid about checks that don't clear my bank within a reasonable time frame. it's one thing if I've/dh has personally handed the check over (then I know the person/business has it in their possession) but it's another if I mailed it. reason being is we've had an issue in our area where thieves were driving around areas that to rob mail boxes. they were stealing just one outgoing item of mail from each-always one that was apparent to contain a check (utility or medical bills frequently). people wouldn't know about it b/c it was outgoing. the thieves then used that one check from a person's account to create more checks on a laser printer which they used to drain people's accounts. it was only by virtue of a very alert staff member at our very small local credit union that one of my neighbors didn't lose thousands from her business checking account.

I try to only mail bills directly from the post office now, but I still keep a pretty close eye on my account if something seems to be taking too long to clear.

 

[Mizzoufan]

I don't see the big deal. Once I write it down in my check book register and subtract it. They can keep it forever.

 

[Hezzy04]

I’m surprised it doesn’t bother so many people! It drives me insane!!! I balance my checkbook and am aware of what I have....but when my amounts don’t match up it drives me crazy!!! I always expect it can take up to several weeks for someone to cash a check when I write one, but I currently have a check out from over 4 months ago. That drives me crazy...

 

[Sandi]

I’m surprised it doesn’t bother so many people! It drives me insane!!! I balance my checkbook and am aware of what I have....but when my amounts don’t match up it drives me crazy!!! I always expect it can take up to several weeks for someone to cash a check when I write one, but I currently have a check out from over 4 months ago. That drives me crazy...

But the amounts do match up because you know who/what didn't cash the check. I balance my checkbook each month -- and keep a running total as I write checks or transfer funds electronically. My numbers match up whether the check recipient cashes the check or not; your numbers match up, too.

 

[dina444444]

I only cut checks through e-banking these days so the money leaves my account either immediately(Chase) or when the check is suppose to be delivered by (BofA). If the person I’ve sent the check to doesn’t cash it within 180 days then the money gets deposited back into my account.

 

[jen7233]

I’m surprised it doesn’t bother so many people! It drives me insane!!! I balance my checkbook and am aware of what I have....but when my amounts don’t match up it drives me crazy!!! I always expect it can take up to several weeks for someone to cash a check when I write one, but I currently have a check out from over 4 months ago. That drives me crazy...

I get it, because I just want things closed and done with as fast as possible. Credit card statements the same concept, I like the pending to be complete. Some people just like things viewed this way, doesn't mean one doesn't know how to balance something, as some other posts here feel the need to say. It's a preference in viewing.

 

[Hezzy04]

But the amounts do match up because you know who/what didn't cash the check. I balance my checkbook each month -- and keep a running total as I write checks or transfer funds electronically. My numbers match up whether the check recipient cashes the check or not; your numbers match up, too.

My number DON’T match up. What is written in my check book (which I know is my true balance) doesn’t match up with what my bank account shows. Generally there are times it doesn’t match (gas tends to take a day or two to come out) but it mostly does. It hasn’t once matched up over the last 4.5 months because the check still hasn’t been cashed.

I always know the true amount I have available, it just irritates me when I have to question if they lost the check or if it will ever come out of my account. In my current case I emailed the lady and she says they lost it and I can consider what I paid for to be free. She says if she finds the check she won’t cash it. However, now I can’t help but wonder if the check will be found and cashed by someone else within the organization...especially since I know she handed off checks to another person within the organization to be cashed. So do I just live forever ignoring the extra money in my account?

 

[Hezzy04]

I only cut checks through e-banking these days so the money leaves my account either immediately(Chase) or when the check is suppose to be delivered by (BofA). If the person I’ve sent the check to doesn’t cash it within 180 days then the money gets deposited back into my account.

That is a really good idea!!

 

[tvguy]

My number DON’T match up. What is written in my check book (which I know is my true balance) doesn’t match up with what my bank account shows. Generally there are times it doesn’t match (gas tends to take a day or two to come out) but it mostly does. It hasn’t once matched up over the last 4.5 months because the check still hasn’t been cashed.

I always know the true amount I have available, it just irritates me when I have to question if they lost the check or if it will ever come out of my account. In my current case I emailed the lady and she says they lost it and I can consider what I paid for to be free. She says if she finds the check she won’t cash it. However, now I can’t help but wonder if the check will be found and cashed by someone else within the organization...especially since I know she handed off checks to another person within the organization to be cashed. So do I just live forever ignoring the extra money in my account?

LOL. It will match if you balance your checkbook every month.

 

[bluezy]

My number DON’T match up. What is written in my check book (which I know is my true balance) doesn’t match up with what my bank account shows. Generally there are times it doesn’t match (gas tends to take a day or two to come out) but it mostly does. It hasn’t once matched up over the last 4.5 months because the check still hasn’t been cashed.

I always know the true amount I have available, it just irritates me when I have to question if they lost the check or if it will ever come out of my account. In my current case I emailed the lady and she says they lost it and I can consider what I paid for to be free. She says if she finds the check she won’t cash it. However, now I can’t help but wonder if the check will be found and cashed by someone else within the organization...especially since I know she handed off checks to another person within the organization to be cashed. So do I just live forever ignoring the extra money in my account?

Nope, no need to ignore it forever (though you *could*...then you'd have a "buffer" amount in your checking account. ). Banks are only required to cash checks that are less than 6 months (180 days) old. So you only have to ignore it for that long. Double check with your bank to see if they choose to cash checks that are older than 6 months as some will. But in general, after 6 months they will be refused/returned.

 

[Sweettears]

Nope, no need to ignore it forever (though you *could*...then you'd have a "buffer" amount in your checking account. ). Banks are only required to cash checks that are less than 6 months (180 days) old. So you only have to ignore it for that long. Double check with your bank to see if they choose to cash checks that are older than 6 months as some will. But in general, after 6 months they will be refused/returned.

As a banker I can tell you that no one checks dates anymore. For that matter no one really checks signatures either.

 

[bluezy]

As a banker I can tell you that no one checks dates anymore. For that matter no one really checks signatures either.

i know no one checks signatures, but I assumed dates were at least being scanned electronically. Some banks definitely still check. Last year a booster group I'm involved with had someone try to cash a check of ours that was over 6 months old and our bank refused it and we had not stopped payment on it.

 

[Hezzy04]

LOL. It will match if you balance your checkbook every month.

I balance my checkbook after every single transaction I make. You must not understand what I am saying.

 

[Hezzy04]

Nope, no need to ignore it forever (though you *could*...then you'd have a "buffer" amount in your checking account. ). Banks are only required to cash checks that are less than 6 months (180 days) old. So you only have to ignore it for that long. Double check with your bank to see if they choose to cash checks that are older than 6 months as some will. But in general, after 6 months they will be refused/returned.

Yeah, I plan to check with my bank as I was told some won’t cash after 6 months, but some will. I also considered cancelling the check (since the lady said to consider it free and she won’t cash it even if she finds it) but I found that cancellation is only good for 6 months....so if they try to cash 7 months from now it could still go through.

My plan is to go talk to someone at my bank and see what they suggest.

 

[goodeats]

I balance my checkbook after every single transaction I make. You must not understand what I am saying.

What do you think balancing your checkbook means?

Balancing your checkbook means you can reconcile the amount in your account per the bank and the amount in your account per your records. For example:

You have $1K in your bank account per the website, you have $700 in your checkbook. You know that there are $300 in outstanding checks. $1K - $300 = $700.

 

[tvguy]

I balance my checkbook after every single transaction I make. You must not understand what I am saying.

I must not be understanding. If you are balancing your checkbook, you are subtracting outstanding checks/debits and adding outstanding deposits to what the bank says you have and that should always match to the penny.

 

[SirDuff]

I balance my checkbook after every single transaction I make. You must not understand what I am saying.

I get what you are saying. When there is an outstanding cheque, my *cleared* balances match but my *working* balance doesn't match my *cleared* balance (or the statement).

Funny, though, cheques are just not used here (Switzerland). First time I got an invoice in the mail, I had no idea what do with it as there was no option to pay online and I didn't have cheques to mail in. Turns out, invoices here are standardized and there are ATMs with scanners (called Multimats). You can the invoice and the amount owed (and who it is owed to) shows on the screen, you approve it, and the money transfers out of your account. You can also take the invoice to the postoffice and pay in cash (if you have a bank account with the post office, they could also pull the funds from your account).