No more "floating checks"

[missyc]

http://newscoast.com/apps/pbcs.dll/article?AID=/20041028/ZNYT01/410280787

So does this mean I actually have to have the money when I write the check?! Bummer. I admit this will certainly change things around this house!!

 

[Beth76]

Yes, this actually happened to me about 3 weeks ago. I wrote a check to my contractor and he told me he wouldn't take it in until the next day. Well, I forgot to transfer the funds on that day so I did it on the day he was to cash the check. There was a problem with my bank at first, but then they ended up transferring the funds that afternoon. I checked my online statement the next day and my transfer cleared just before the check cleared. That was the same day my contractor took it to the bank! I didn't even know about this new check thing yet. But, I do now.

 

[Kimberle]

And whatever deposits you make into your account are still going to take the same amount of time to clear.

The banks are going to make a fortune on all this float.

 

[phorsenuf]

The thing I don't like about it is I read in a different article that at some places they will make an electronic copy and destroy the original. f places do that than how can you prove that those checks may have been stolen and or forged. If they destroy your original signature that could certainly lead to alot more fraud.

 

[m&m's mom]

Originally posted by phorsenuf
The thing I don't like about it is I read in a different article that at some places they will make an electronic copy and destroy the original. f places do that than how can you prove that those checks may have been stolen and or forged. If they destroy your original signature that could certainly lead to alot more fraud.

The image will be the exact same thing as the checks now- (front and back) but they will be mostly in miniature. Legally the same thing.

 

[goin2disneyagain]

If this is something that you occassionally do then I would strongly suggest overdraft protection. What bothers me the most is that the deposits are not going to be handled the same as the checks.

 

[Pin Wizard]

I hate the bank I've been with the last few months and can't wait to get rid of them! I've never had problems with any bank like I do with them. Now that I have my direct deposts at a different bank, it won't be long!! My receipts I get from them do NOT show a balance for my accounts. When I withdraw from one and deposit in the other, I only get a receipt for the deposit, not the withdrawal. Grrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr. <a href='http://www.smileycentral.com/?partner=ZSzeb008' target='_blank'><img src='http://smileys.smileycentral.com/cat/4/4_6_104.gif' alt='Shock 3' border=0></a> Plus I have a deposit in my register that they don't have on my statement! Guess I'll be hunting down that receipt and pay them a visit. Ugh! I can't wait to get rid of them!!