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How Many live checks do you have?
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<blockquote data-quote="Kae3106" data-source="post: 1147747" data-attributes="member: 27557"><p>Nah, you'll aggravate some poor hourly accountant in the trenches of the Dallas accounting department. He's a nice guy...don't do this to him.</p><p></p><p>Here's the problem: those checks go stale after 180 days. When that happens, the bank tells us the check is no longer good. Then someone has to send you a letter alerting you that you have an uncashed check. You have to send back the letter and then the accountant has to request a new check for you. The replacement process is not quick and can take a couple of weeks.</p><p></p><p>There was a situation a few years ago where an employee didn't cash their checks for an extended period of time. But then started cashing them right around the 180 day mark. It was an ongoing issue for several months where we would issue a replacement check and then the original would be cashed at the same time. It turned out to be coincidental but the timing of it really looked suspiciously like intentional fraud since it happened several times. </p><p></p><p>Here's my suggestion. Since you don't seem to need the money right away, open an online money market or savings account with direct deposit. You won't have to go to a bank and you'll draw a little interest. I think Ally has some of the best rates for a non-credit union right now.</p></blockquote><p></p>
[QUOTE="Kae3106, post: 1147747, member: 27557"] Nah, you'll aggravate some poor hourly accountant in the trenches of the Dallas accounting department. He's a nice guy...don't do this to him. Here's the problem: those checks go stale after 180 days. When that happens, the bank tells us the check is no longer good. Then someone has to send you a letter alerting you that you have an uncashed check. You have to send back the letter and then the accountant has to request a new check for you. The replacement process is not quick and can take a couple of weeks. There was a situation a few years ago where an employee didn't cash their checks for an extended period of time. But then started cashing them right around the 180 day mark. It was an ongoing issue for several months where we would issue a replacement check and then the original would be cashed at the same time. It turned out to be coincidental but the timing of it really looked suspiciously like intentional fraud since it happened several times. Here's my suggestion. Since you don't seem to need the money right away, open an online money market or savings account with direct deposit. You won't have to go to a bank and you'll draw a little interest. I think Ally has some of the best rates for a non-credit union right now. [/QUOTE]
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How Many live checks do you have?
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