Once they add in benefits and taxes it is costing the government $150,000 per year to hire someone to open checks and deposit them. No way that is cheaper for them than an electronic payment. At our county's website you just enter your checking account routing number and the account number. Much easier for them to process.
Checks will be on the way out eventually. But I do love showing my Disney spirit with my checks. LoL.
Interesting info on that. Had no idea.Some laws are going to have to change for checks to completely disappear. I sold my parents house, it was in a trust. Not sure if it is state or federal law, but the law requires payment on real estate held in a trust to be by check.
And at least in California, even if you have direct deposit, when you leave a job your final pay check has to be just that, a check.
Guess you haven't bought a car in 10 years. My daughter bought her first car on her own in April. She has a debit card, a credit card, Pay Pal etc, and was shocked to discover the only two ways she could make a down payment were cash or check.
In a normal month these days I write about 3 checks.
I pay my property taxes by check because they levy a 2.29% fee for other payment methods. I'm NOT giving them an additional $48 on top of my $2,100 property taxes every year. The Tax Assessor website says paper checks are the least expensive payment method for them to process.
Nope, never write a check for that either.Same with college tuition.
Nope, never write a check for that either.
Well my sons charges a fee for cc payments. So I send a check.You’re right. I did buy a car for DD19 recently and put as much as they’d allow on a cc for points and the balance I wrote a check for. That’s a bit different from Walmart though.
I do write checks for down payment when purchasing a home as well. That’s about all I can think of.
Nope, never write a check for that either.
Passport renewal!You’re right. I did buy a car for DD19 recently and put as much as they’d allow on a cc for points and the balance I wrote a check for. That’s a bit different from Walmart though.
I do write checks for down payment when purchasing a home as well. That’s about all I can think of.
Nope, never write a check for that either.
Purchase of my passport last year.Passport renewal!
I'm still waiting for a check I wrote in 2000 to clear. I checked with the merchant, and HIS bank put the money in his account, it just never got taken out of my account. Drove me nuts every month when I balanced my checkbook. I think about 2010 I just entered the money back into my checking account as a deposit!
I personally wouldn't pay to do that. If someone had taken it, you would have surely seen evidence by now.I wonder if they lost the check. If it doesn't clear by years end, I am going to stop payment on it.
I personally wouldn't pay to do that. If someone had taken it, you would have surely seen evidence by now.
May not then.I agree, I definitely wouldn't pay $30ish to stop payment on it, I'd just let it go. I had a check 5 or so years ago to the car repair place for about $250 never clear the bank. I assume they lost it. After months of it not clearing, I just added the money back in and didn't worry about it.
But I still deal with a few companies that charge a fee for everything, everything other than checks sent in the mail or payments made in person in their offices.
What, pray, happens if you send in your check payment and Walmart credits the check to your account normally and prepares their bank deposit and, somewhere along the line from Walmart to their bank to the Federal Reserve to your bank the check got lost?
Maybe an armored truck got hijacked or crashed and your check (along with thousands of others) got lost.
Maybe a piece of luggage with a deposit bag containing your check got lost by an airline.
So your bank doesn't get back the check to clear, and deduct the payment from your account with. They with so many other checks coming in and going out for you and their other customers might never notice the absence of this one check of yours.
I was a little slow to adapt to electronic payments but eventually I cut down on writing checks and now do most of my transactions over the phone or on the internet. But I still deal with a few companies that charge a fee for everything, everything other than checks sent in the mail or payments made in person in their offices.