Check clearing Questions (and a vent)

[rubytue]

I thought the processing for checks changed a couple of years ago so that checks were transmitted electronically. That made them either clear or bounce pretty quickly. Did I misunderstand this? It takes 3-5 days for DH's paychecks to clear (or bounce).

And the related vent - I am SO FUCKING SICK of this shit! (love ya cursing GBCN). It should NOT be a gamble if your paycheck is going to clear. And I can not understand why the hell DH won't look for a new job. Because, you know, working for free is doing us so much good. I'd almost rather him just quit. I can find 40 hours of work for him to do around here per week, and at least then I would *know* he wasn't getting paid. Why on earth would you stick around when you have had 10, count them 10, checks bounce in the past 6 months. 17% of them! WTF?!

Yeah, there were 2 last week that bounce and he deposited another 2 on Friday - so I'm sitting here looking at my bank balance and I don't know when I can trust it.

Oh, and don't even get me started on depositing them two and a time. He can't be bothered to go to the bank regularly. I don't know if that would help though. If one at a time would work, then wouldn't at least one of the checks clear?

[Deleted]

That would piss me off to no end. I'm sorry.

3-5 days sounds right for it to make a full cycle. You deposit the check, your bank sends it through, it posts to the check holder's account, the check holder's bank reverses the transaction and returns the check to your bank.

[juris11]

I do direct deposit for our paychecks, but I agree that 3-5 sounds about right for a check that I physically took to the bank.

Although the bounced check thing is crazy and I would be hella pissed about that.

[ecupirate04]

Can you go to the bank they are written from and cash them?

[rubytue]

I'm annoyed enough to contemplate calling Wage and Labor: www.dllr.state.md.us/labor/wagepay/wpbounced.shtml Problem is, its a catch-22 - we report the employer, DH gets fired, he doesn't get paid.

Although my argument is he isn't getting paid as it is.

He's also contemplated quitting for cause, and we are fairly (~80%) confident that he could qualify for unemployment because, you know, HE ISN'T GETTING PAID. But DH feels too much obligation to his customers to do that.

When it comes down to it, he is the one that needs to get up the guts to do something about it, I can't do that for him. I can't go apply to jobs for him, I can't make him do anything. I almost had him convinced to talk to the owner (very small company) and the realistic viability of the company. We can deal with this short term (he has always eventually gotten the money, just its a gamble if it will be on time or only after a bounce).

[rubytue]

May 14, 2012 8:55:36 GMT -5 ecupirate04 said:

Can you go to the bank they are written from and cash them?

Its a small, local bank with one branch than is over an hour away. The employer is based two counties further north, and DH handles their Baltimore work.

[Ashley&Scott]

I would be pissed too, what does his company say when this happens?

[ecupirate04]

May 14, 2012 8:59:51 GMT -5 rubytue said:

May 14, 2012 8:55:36 GMT -5 ecupirate04 said:

Can you go to the bank they are written from and cash them?

Its a small, local bank with one branch than is over an hour away. The employer is based two counties further north, and DH handles their Baltimore work.

Yuck. I'd be as pissed as you though.

[Mrs.Beagle]

I would be pissed, and your H needs to nut up and find a job where he'll get paid on time.

[rubytue]

I'm honestly not sure what the answer is (other than getting a new job that would come with novel things like checks that clear and maybe a retirement option). When this happened back in March, the owner asked DH not to horde his checks. So now I've gotten him depositing every other week, which is probably the best I can do. But, once a month would probably not work, either. We think the payroll account it balanced like a college kid balances his account - "ok, there is X amount in there right now, so we can write y amount of checks." Not taking into account outstanding checks. That is really the only logical explanation I can come up with.

[meggers]

To answer your initial question, the change ALLOWED for checks to be processed electronically. Not everyone participates in that. The situation sucks-I'm sorry.

[pamela]

Until you can get your husband to get a new job, paychecks need to be cashed that day or the next. No waiting. He needs to be the first in line to deposit it.

And he needs to be looking intently for a new job. It is would not be negotiable with me. I'm still annoyed with my mom for not pushing my dad to sell his business when he had an offer when things were going really bad for several years (his line of work has major swings and the low ends tend to drag on). I understand loyalty, but loyalty needs to be to immediate family first.

[meggers]

May 14, 2012 9:14:49 GMT -5 rubytue said:

When this happened back in March, the owner asked DH not to horde his checks. So now I've gotten him depositing every other week, which is probably the best I can do. But, once a month would probably not work, either. We think the payroll account it balanced like a college kid balances his account - "ok, there is X amount in there right now, so we can write y amount of checks." Not taking into account outstanding checks. That is really the only logical explanation I can come up with.

Ugh, it sounds like exactly what they are doing.

[rubytue]

May 14, 2012 9:22:44 GMT -5 meggers said:

To answer your initial question, the change ALLOWED for checks to be processed electronically. Not everyone participates in that. The situation sucks-I'm sorry.

I did find that out! It was Check 21 I was thinking about. And now I feel old b/c it said it was back in 2004, and i was thinking it was "a few" years ago. lol

[racegrrl714]

I used to work in a bank, bookkeeping department to be exact, and 3-5 days would probably be the norm for a check to be bounced back to you these days. Before check 21, it was more than a week.

[madringal]

You should have him go to the bank that the check is drawn off of to cash them. That way he will know right away if it is good or not, and they won't be able to draw it from your account if it bounces. That bank will probably have small fee ($5ish) to cash it, but it sounds like it would be worth it.

And if that doesn't work, does your bank have an Iphone app so you can at least deposit sooner?

[rubytue]

May 14, 2012 10:04:57 GMT -5 madringal said:

And if that doesn't work, does your bank have an Iphone app so you can at least deposit sooner?

OMG! That is a great idea! We use BOA, which I'm pretty sure does iphone deposits. I've never used it, because I'm old and it seems way too weird for me. But what do we have to lose at this point?

[milkrations]

May 14, 2012 10:07:17 GMT -5 rubytue said:

May 14, 2012 10:04:57 GMT -5 madringal said:

And if that doesn't work, does your bank have an Iphone app so you can at least deposit sooner?

OMG! That is a great idea! We use BOA, which I'm pretty sure does iphone deposits. I've never used it, because I'm old and it seems way too weird for me. But what do we have to lose at this point?

I was very skeptical of using my phone to deposit checks (with Chase) at first, but I love it. Take the plunge!