“reign in blood”

Since: May 09

Chicago, IL

#21 Nov 13, 2013
squishymama wrote:
<quoted text>
Some vendors do not have the capability of accepting electronic payments, and I'm guessing that a small-time landlord wouldn't want to bother with that. So even though you may have payed your bill electronically through your bank, they still have to create and mail an actual check.
But you can't kite the check this way. Once you enter that in the system, the amount of the check is immediately deducted from your account.
Alrighty then, was not aware of this
pde

Homer Glen, IL

#22 Nov 13, 2013
edogxxx wrote:
<quoted text>
I don't understand, is this different from automatic withdrawals? They actually write and mail a physical check?
It's bill payment you can set up with your bank.(Rather than with the vendor.) If the place receiving payment is set up to receive bank transfers, the transfer happens electronically. If the vendor cannot accept bank transfers, the bank writes and mails a check.

As I said, our bank automatically marks the funds as unavailable the day they mail the check, if they have to mail the check. I don't know if all banks which offer this service do this.

“reign in blood”

Since: May 09

Chicago, IL

#23 Nov 13, 2013
Toj wrote:
<quoted text>
How so? I don't understand this. Once you have "spent" the money by writing a check, whether or not the person you wrote it to has cashed the check, it is not really money YOU have. It's money promised to pay to someone else.
Because the money is still in the account and there's no way of knowing how much money you REALLY have. You might assume the check should have cleared by now after three or four weeks so your balance is off if it hasn't.
pde

Homer Glen, IL

#24 Nov 13, 2013
Toj wrote:
<quoted text>
How so? I don't understand this. Once you have "spent" the money by writing a check, whether or not the person you wrote it to has cashed the check, it is not really money YOU have. It's money promised to pay to someone else.
Because nobody balances their checkbook anymore.

“A Programmer is not in IT!”

Since: Feb 09

Neda, stay with me!

#25 Nov 13, 2013
Because some people only balance for the month, Like me.
At the beginning of the month, I get my balance, then I write checks against that, then at the beginning of the next month I get my new balance and repeat the process.
I dont keep a running balance from day one, so if I have 1K in the bank and write a check for $50, at the start of the next month I assume that $50 check was cashed and is out of the system. If not it artificially inflates what I believe to be my balance. This is very annoying for people like myself. I assume any check mailed out over 2wks ago to be cashed, and this system works perfectly till some bonehead decides to not deposit my check into their account for no damn good reason.
Toj wrote:
<quoted text>
How so? I don't understand this. Once you have "spent" the money by writing a check, whether or not the person you wrote it to has cashed the check, it is not really money YOU have. It's money promised to pay to someone else.

“I Am Mine”

Since: Dec 08

Location hidden

#26 Nov 13, 2013
edogxxx wrote:
<quoted text>
Because the money is still in the account and there's no way of knowing how much money you REALLY have. You might assume the check should have cleared by nowm after three or four weeks so your balance is off if it hasn't.
if you are keeping track of what you spend, then the total the bank reports should not confuse you. Your bnk tatemnt and the automated line and the web site can tell you exactly what transactions have cleared. If you are not keeping your own records to compare to the bank, you can't call what you're doing 'accounting'. You're gussing.
pde

Homer Glen, IL

#27 Nov 13, 2013
RACE wrote:
I assume any check mailed out over 2wks ago to be cashed, and this system works perfectly till some bonehead decides to not deposit my check into their account for no damn good reason.
<quoted text>
We're still in the first 150 checks on the checking account we set up 15 years ago.

And we've only used as *many* as we've used because the piano teacher my kid had for two years insisted on monthly payments by hand written check.

“What's it to ya?”

Since: Mar 09

Location hidden

#28 Nov 13, 2013
PEllen wrote:
<quoted text>It's been a long time since I used a money order. I thought they were around $5.00. Thanks for the update
No problem. I wasn't going to spend $50.00 to wire it unless she absolutely had to have it right then. She doesn't have a bank account, so the best option was a money order. I got it at the drug store. I think postal money orders are more expensive and I know the bank ones are about $5.00. <shrug> I'm in that shopping center every.single.day. Easy peasey.
Stina

Saint Petersburg, FL

#29 Nov 13, 2013
LW1: Makeup is meant to subtly enhance, not be a mask. I hope she learns that. Anyone else have "Beauty School Dropout" stuck in their head?
LW2: I like the money order idea, though I don't understand why it's so confusing for LW. My landlord switched to the same credit union as me back in teh spring and we finally got around to setting up auto transfers on the 1st of the month. It's great! Don't even have to think about it!

And Amscot does free money orders.

“What's it to ya?”

Since: Mar 09

Location hidden

#30 Nov 13, 2013
RACE wrote:
Because some people only balance for the month, Like me.
At the beginning of the month, I get my balance, then I write checks against that, then at the beginning of the next month I get my new balance and repeat the process.
I dont keep a running balance from day one, so if I have 1K in the bank and write a check for $50, at the start of the next month I assume that $50 check was cashed and is out of the system. If not it artificially inflates what I believe to be my balance. This is very annoying for people like myself. I assume any check mailed out over 2wks ago to be cashed, and this system works perfectly till some bonehead decides to not deposit my check into their account for no damn good reason.
<quoted text>
I have an app on my phone for my bank. It's updated in real time. It will tell me if a check has cleared and if there are any pending charges on my card or anything. They deduct the pending charges (but not the rent check) from my total balance and give me an available balance. I figure ok, I deposit 1500.00 and write a check for 1000.00 that means I have 500.00. Until I know the check has cleared, I just automatically (in my head) deduct that 1000.00 from what the system says I have.`

Toj

“Where is Everyone?”

Since: Jul 12

Location hidden

#31 Nov 13, 2013
edogxxx wrote:
<quoted text>
Because the money is still in the account and there's no way of knowing how much money you REALLY have. You might assume the check should have cleared by now after three or four weeks so your balance is off if it hasn't.
Okay. I understand. It's the thinking of: I can't be out of money, I still have checks left in my checkbook!

:D

Toj

“Where is Everyone?”

Since: Jul 12

Location hidden

#32 Nov 13, 2013
RACE wrote:
Because some people only balance for the month, Like me.
At the beginning of the month, I get my balance, then I write checks against that, then at the beginning of the next month I get my new balance and repeat the process.
I dont keep a running balance from day one, so if I have 1K in the bank and write a check for $50, at the start of the next month I assume that $50 check was cashed and is out of the system. If not it artificially inflates what I believe to be my balance. This is very annoying for people like myself. I assume any check mailed out over 2wks ago to be cashed, and this system works perfectly till some bonehead decides to not deposit my check into their account for no damn good reason.
<quoted text>
I don't actually balance my checkbook. Ever. I also only write about 15 checks a year. When I write a check (or have a virtual check) I watch for it on my account by logging in. I usually know down to the penny what I have. I simply deduct the amount still outstanding to what is showing on my account.

I never assume a person has deposited or cashed a check I wrote until I see it on the statement. It's so easy-peasy to look up my checking account online it's second nature to me now.

Toj

“Where is Everyone?”

Since: Jul 12

Location hidden

#33 Nov 13, 2013
pde wrote:
<quoted text>
Because nobody balances their checkbook anymore.
I don't either. But like I said I know what checks I've written and I check to see if they've cleared.

“A Programmer is not in IT!”

Since: Feb 09

Neda, stay with me!

#34 Nov 13, 2013
Don't do online banking, ain't gonna save that stamp.
pde wrote:
<quoted text>
We're still in the first 150 checks on the checking account we set up 15 years ago.
And we've only used as *many* as we've used because the piano teacher my kid had for two years insisted on monthly payments by hand written check.
pde

Homer Glen, IL

#35 Nov 13, 2013
RACE wrote:
Don't do online banking, ain't gonna save that stamp.
<quoted text>
Even if you have never chosen to log into it, if you've got a modern bank account, you have online access.

Toj

“Where is Everyone?”

Since: Jul 12

Location hidden

#36 Nov 13, 2013
I know some people don't like online banking. I always think, though, if they just gave it a try they'd always bank online. Excellent way to keep track of everything.

But then, I love technology. Sometimes probably too much.

“A Programmer is not in IT!”

Since: Feb 09

Neda, stay with me!

#37 Nov 13, 2013
Oh, sure! I dial in once a month and get my balance. I also get a paper statement with all my transactions and checks that I could also use to get help me, but its just easiest to get the starting number every month. I dont like bill paying or check book balancing. Every woman I have lived with has been in charge of all that. Since I have been living alone, I just try to keep a surplus in my accounts and not even bother with tracking them at all.
pde wrote:
<quoted text>
Even if you have never chosen to log into it, if you've got a modern bank account, you have online access.

Toj

“Where is Everyone?”

Since: Jul 12

Location hidden

#38 Nov 13, 2013
RACE wrote:
Oh, sure! I dial in once a month and get my balance. I also get a paper statement with all my transactions and checks that I could also use to get help me, but its just easiest to get the starting number every month. I dont like bill paying or check book balancing. Every woman I have lived with has been in charge of all that. Since I have been living alone, I just try to keep a surplus in my accounts and not even bother with tracking them at all.
<quoted text>
Heh. You sound like you're 80 years old.
pde

Homer Glen, IL

#39 Nov 13, 2013
RACE wrote:
Oh, sure! I dial in once a month and get my balance. I also get a paper statement with all my transactions and checks that I could also use to get help me, but its just easiest to get the starting number every month. I dont like bill paying or check book balancing. Every woman I have lived with has been in charge of all that. Since I have been living alone, I just try to keep a surplus in my accounts and not even bother with tracking them at all.
<quoted text>
Then why are you doing anything with checks anymore?

Utilities can be set up to bill to a credit card or direct debit from your account. Credit cards can be set up to direct debit from your account.

Our preferred mechanism is to have all possible bills bill to one of our credit cards, and have that credit card set up to direct debit monthly. We don't use checks because we don't even use the concept of checking anymore.

The only thing that we have to use our bank's bill payment system for is the town water bill. The idiots at town hall haven't even quite accepted the concept of USPS yet either ... they would REALLY prefer that you walk the check in and hand it to the clerk. Yeah. No.

“...,to wit”

Since: Jun 09

Location hidden

#40 Nov 13, 2013
RACE wrote:
Oh, sure! I dial in once a month and get my balance. I also get a paper statement with all my transactions and checks that I could also use to get help me, but its just easiest to get the starting number every month. I dont like bill paying or check book balancing. Every woman I have lived with has been in charge of all that. Since I have been living alone, I just try to keep a surplus in my accounts and not even bother with tracking them at all.
<quoted text>
Do you get your actual cancelled checks back or just an image of them?

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