Another question about checks!
Anyway, my question is for my co-worker. She wrote her landlord a check that might bounce. If it does bounce, she wanted to know how soon the landlord will know and if there is a grace period for her to fix it? For example, when i bounced with the grocery store, i know it went through twice before the store was even made aware.
it was kinda embarrasing that i am the one people come to for bad check advice, heh. but i really do not want to steer her wrong (btw i told her to register for this great site, it has helped me millions of ways) :)
It depends. If there's money in the account, some banks will jus
It depends. If there's money in the account, some banks will just cash it leaving her overdraft, then she'll have to pay the bank back with her next check.
Some landlords will put it through twice, some won't it really is up to the landlord as they get charged fees as well.
As far as grace period, again, really up to the landlord. Most want their money right away. Some will give a 7 day period etc. It took one of my landlord up to two weeks once (at least that's when he contacted me) if he mails it in, if he goes into one of her banks branches and tries to cash it, he'll know right away if they accept it or not.
Thanks - I passed on the info, this is why I am swearing off che
Thanks - I passed on the info, this is why I am swearing off checks though! I haven't written one since the problems i talked about here. However, I do need to get more because I have none and I think I should have some regardless. I have gotten wal mart checks in the past but i think i heard they are bad, too? i am pretty sure im not on chex systems but why risk my personal info being spread anyway?