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Noir wrote:

Nurd6 wrote:Checks are also a nice way to pay for things when one doesn't quite have the money for it yet.

LOL, I don't think you known how checks work.

Depends where he shops, to be honest. It might be perfectly safe, but when I've floated checks in the past it's only been in the most dire of circumstances. I can't imagine doing it for miniatures.

If you have no idea what he's talking about, what he describes is commonly called "floating" a check - which is writing a check before you have the funds available. An example would be you have $10 in your account, and you get paid via direct deposit at around 5 in the morning the next day. If you go out for pizza at 8:00PM, and you write a check, it won't reasonably be deposited until at least 9 or so AM the following day (and in practice, may not hit your account for 3 or 4 days).

In the United States, a law was passed in 2004 called Check 21 to attempt to put a stop to this. The mechanism is that your check is scanned, and then processed similar to a debit transaction (instantly). The check is then returned to you immediately, it's been processed and voided. In practice, there aren't that many stores (at least in my area) that participate in this; it's generally just the super box stores, with small stores handling them as always.

To be honest i would say no. I'm not sure why they even have checks anymore other than paying bills. Everyone around here the does take checks does the electronic checking now so it gets taken out right away. Might as well use your debit card or pay cash.

Portugal Jones wrote:

Nurd6 wrote:Checks are also a nice way to pay for things when one doesn't quite have the money for it yet.

A sterling illustration of why more and more businesses justyify not accepting checks. It keeps people with financial sense like nurd's from ripping them off.

That and they are a pain in the arse to put through your finance systems.

I still use cheques.

To pay tradesmen or the credit card mainly.

For everything else, it's either cc or cash.

Here in Belgium checks aren't used anymore. I know in France they still do. French keep trying to pay with checks where I work...

In the century of instant electronic payments I really see no reason why you'd still use this kind of thing.

Still takes three working days to clear afaik

We have an express clearance option.

If you are depositing it into your account, and have at least the value of the checque available (of your own money), then you can have the funds now (using your own money as a guarantee) - otherwise a surcharge applies.

Chibi Bodge-Battle wrote:Still takes three working days to clear afaik

five, at least.

Paul
I am referring to electronic banking not cheques, just to be clear if you will pardon the banking pun

Chibi Bodge-Battle wrote:Paul
I am referring to electronic banking not cheques, just to be clear if you will pardon the banking pun

Sorry, my mistake... That is a bad pun...

It should be same day soon as more banks take up fast bacs. But for now you have to guess if you will get paid in twenty mins, one day or three days.

If you pay a cheque I guarrantee that it will be out of your account by the next morning 8/10 times.

If you are waiting for a cheque to clear into your account it will take the bandits a full 5 days to put it there.

Banks have been able to do next day clearance of cheques in the UK for years, it just suits them not to. Or offer the service at a charge.

As I say bandits.