How Long Do You Hold Checks?

Lon · Post by **Lon** » Mon Dec 08, 2008 5:52 pm

Is it just in New Zealand that people and businesses seem to hold checks forever before depositing them in the bank? In the U.S., your check will get deposited before the ink is dry. I deposit any checks written to me within 24 hours because I will get interest on that money. Many of the Kiwi's that I have written checks to need the money (they are not that affluent) and it blows me away that they can afford to hold checks as long as they do. I have had some outstanding checks for over two months.

Do you deposit checks promptly? If not, why not?

hoppy · Post by **hoppy** » Mon Dec 08, 2008 6:05 pm

Immediately because at my age, I might lose them otherwise.

Post by **Oscar Namechange** » Mon Dec 08, 2008 6:11 pm

Lon;1081337 wrote: Is it just in New Zealand that people and businesses seem to hold checks forever before depositing them in the bank? In the U.S., your check will get deposited before the ink is dry. I deposit any checks written to me within 24 hours because I will get interest on that money. Many of the Kiwi's that I have written checks to need the money (they are not that affluent) and it blows me away that they can afford to hold checks as long as they do. I have had some outstanding checks for over two months.

Do you deposit checks promptly? If not, why not?

Mine go straight in. I don't understand why anyone would want to hold on to them. They are losing interest.

Anyway, i want to get mine in and cashed before the bank goes into meltdown :sneaky:

Odie · Post by **Odie** » Mon Dec 08, 2008 6:17 pm

my cheques are deposited the day of the date.

all bank here holds personal cheques for 10 days, so I do not accept personal ones.

Lon · Post by **Lon** » Mon Dec 08, 2008 8:31 pm

JAB;1081432 wrote: I don't get checks.

Send me your address and I will mail you one.

Odie · Post by **Odie** » Mon Dec 08, 2008 9:11 pm

Jester;1081440 wrote: Promptly in my biz, you have to, the check may not clear otherwise!

Someplaces I have to ask for cash only becasue I have been stiffed a few times.

or, 'it's in the mail!':-5:-5

Odie · Post by **Odie** » Mon Dec 08, 2008 10:22 pm

JAB;1081490 wrote: I once had to make some changes to an employee's payroll file which negated her direct deposit and issued her a 'live' check instead. I told her about it ahead of time and overnighted the check to her.

Four months later, our payroll service sends me an email to say the check hadn't cleared yet. She had forgotten it was 'live' and just filed it with her other direct deposit stubs!

Must be nice not to miss 2-weeks worth of pay. :-2

fire her and hire me, I will cash it asap!:-5

Bez · Post by **Bez** » Tue Dec 09, 2008 6:51 am

Cheques are getting to be a thing of the past over here Lon. Many shops won't accept them anymore. I only write cheques to my solicitors.....they're still living in the stoneage !

Now should anyone want to give me a cheque, it would be in the bank before the ink was dry !

sunny104 · Post by **sunny104** » Tue Dec 09, 2008 7:19 am

depends on how soon I can get to the bank. :p