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View Poll Results: What should I do?

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Thread: Uncashed cheque - what should I do?

  1. #1
    Oncle Boris
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    Uncashed cheque - what should I do?

    The university still hasn't cashed in the €420 cheque I gave them three months ago.

    Should I -

    a) report it
    b) wait and hope they forget, but keep the money in my savings account just in case
    c) spend the money on booze

    Option B requires more precision. If I am to keep the money just in case, how long should I?
    "The boastful seeks the company of parasites." (Spinoza)

  2. #2
    KrazyHorse
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    I don't know how it is in France, but IIRC in NA personal cheques are good for 6 months after date of issue.

    Also, even if they let that deadline expire they can still ask you for new payment of whatever you owe them for a period of ~2 years (again, in NA, and again IIRC), even though not cashing your cheque was their fault. I'd make sure that you keep the carbon copy of the cheque you wrote as some sort of evidence you gave it to them in the first place (to make sure that they don't try to charge late fees in case they ever notice they didn't collect your money).

    In other words, they can decide any day to cash that cheque, or ask for a new one. Best to keep the money in your account. I bounced a cheque by mistake one time and it wasn't fun. There were no real consequences beyond a 25$ fee, but I felt like a complete deadbeat when I had to explain it.
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    KrazyHorse
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    I'd wait and keep the money in your account for at least another 3 months. I wouldn't totally forget about it for another year or so.
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    Flubber
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    If they have not cashed the cheque, it is unlikely that their records will show that you have paid whatever it was the cheque was for. So the first question is whether or not youe account is in good standing since I hardly think you want to get terminated from university for non-payment of tuition or whatnot.


    If your account is in bad standing, you need to clear things up and pay.

    If things are all in good standing then it appears you are the beneficiary of a bank/ administrative error in your favor and your response could depend on your personal ethics. Its like the ethical questions "assuming you would never get caught, would you do x or y?".

    I don't plan to dictate to you on ethics . . . On a practical level, I would think that any modern accounting system will find the discrepency sooner or later
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    KrazyHorse
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    I don't know about that. I got a double paycheque a few years back...
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    KrazyHorse
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    Also, if his account reads as owing money then I'm sure they'll send him some kind of warning whenever they notice. If they do that he can walk in and tell them that they got the cheque 3 months ago, then write them another one right there.

    They won't just expel him without warning.
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    snoopy369
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    My suggestion is B, keep the money, for at least six months; I honestly suggest that A is not a bad idea, and if you go with B, I'd keep it for a year or more.

    KH is correct about the six month rule, and some banks have a more strict rule in fact [for cashing a check at their bank, not for a check drawn on their bank]; but from having worked at a bank before, I can tell you that it's all up to the individual teller. The teller accepts the check and deposits it; and is generally the (only) person who would vet the date of the check. If the teller isn't paying attention, or just doesn't feel like doing the paperwork, he/she might very well accept the check, at which point ... it will almost certainly be accepted by your bank (electronic fund transfer and such) and you'll not have much of an argument against it if it bounces or such.

    The university probably deposits a few dozen or hundred checks at once, anyway, and the teller accepting the deposits is probably not looking at individual dates; you're lucky if they look at individual AMOUNTS and don't just trust the Uni's deposit slip. I've deposited checks with all sorts of problems (not as a teller but as a retailer) and never had a complaint.
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    Cheques is just so 1980s.
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  9. #9
    snoopy369
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    Originally posted by KrazyHorse
    Also, if his account reads as owing money then I'm sure they'll send him some kind of warning whenever they notice. If they do that he can walk in and tell them that they got the cheque 3 months ago, then write them another one right there.

    They won't just expel him without warning.
    Probably not, but there's a reasonable chance they might not accept his copied check as proof he paid (he might have made a check but not given it to them, for example). Often they consider it your responsibility to make sure your payment was accepted. Certainly they'll warn you, but you may have late fees that they may not waive.

    I definitely suggest at least checking to see if they consider the payment accepted.

  10. #10
    KrazyHorse
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    I've never had a late fee not blatantly my fault which I couldn't talk my way out of, and I've had several which were blatantly my fault which I still managed to talk my way out of. Given that this is a university, I'm going to guess that they aren't out to **** Boris.
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  11. #11
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    Hah. When I posted that the quote which popped up was:

    Overdrawn? But I still have checks left!


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    Arrian
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    I'd wait a while more, and eventually I'd contact them and ask them to please cash the darned thing. I hate it when I write somebody a check and they take forever to cash it.

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    Dauphin
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    Originally posted by snoopy369
    The university probably deposits a few dozen or hundred checks at once, anyway, and the teller accepting the deposits is probably not looking at individual dates; you're lucky if they look at individual AMOUNTS and don't just trust the Uni's deposit slip. I've deposited checks with all sorts of problems (not as a teller but as a retailer) and never had a complaint.
    I have witnessed mail containing cheques remitted being delivered to a wrong address and subsequently cashed. The company who cashed them were a reputable business, they just had a system of cashing all cheques on the day they were received and only later realised the payments were not intended for them, rather a company that shared the office building. Accounts receivable didn't care, cashier obviously didn't notice.
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    Save it and let in draw what interest it will draw.
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  15. #15
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    Re: Uncashed cheque - what should I do?

    Originally posted by Oncle Boris
    The university still hasn't cashed in the €420 cheque I gave them three months ago.
    Typical. Save the money.
    Spend it on booze only in 9 months, in case they still haven't cashed it in.
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  16. #16
    Oncle Boris
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    You guys are more reasonable than I had thought.
    "The boastful seeks the company of parasites." (Spinoza)

  17. #17
    Spec
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    Concerning banks and such, only listen to me, atleast, I know what I am talking about.

    Just wait another 3 months! A check is only good for 6 months, after that, they cant cash it and the money is yours!

    Trust me, I know.

    Spec.
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  18. #18
    Oncle Boris
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    Of course. The problem is that I still owe them the money, don't I?
    "The boastful seeks the company of parasites." (Spinoza)

  19. #19
    KrazyHorse
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    Yes, actually.

    There's a limit on that too, but it's much longer, as I said. 2 years in NA IIRC
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  20. #20
    Spec
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    Originally posted by Oncle Boris
    Of course. The problem is that I still owe them the money, don't I?
    Yes, but it is unlikely that they will ask for it after 6 months. Its a long process! If they didn't pass it already, its most likely lost...as usuall when this happens. Worst case scenario, they find out in you r next semester that you have an unpaid fee. It should go as follows:

    -Sir, we need a check for you last semester
    -Yes, I gave you a check.
    -Ummmm no, (because it is mostlikely lost).
    -Well, I am 100% positive I gave it to you.
    -Can you prove it?
    -Sure, but I will have to ask the bank to make a research, and usually, it is around 5$ per day searched to search my account. I gave the check to you in late september, early october, not sure, and you may have cashed it up to late november. So, if you want proof, I will have to make my bank make a search in my account for those 3 months, and its 5$ a day, so it comes close to 400$ (85 days times 5$). And I am positive I gave you the check. So I can make a reseach, buit if I am right, you will give me back my 400$ of reseaching fees since it was your mistake.
    -Ummmm, I will have to call you back on that
    -Yes, you probably should

    And they will most surely abandon your case and mark it as paid since they dont want to take the chance to give you back 400$

    If it backfires i your face and they say ''ok'', then you dont make a research act as if you did and tell them you know they have the check and did not cash it because you found the stub in your check book. If they dont find it, you write them another one, minus the fees for a stop payment for the lost check so they dont cash it. But of course you dont make a stop payment because the 6 month delay has passed and they dont have the right to pass the check.

    But I really doubt it will backfire, that's what we recommended people to do. Bureaucracy is fun to play with.

    Spec.
    Last edited by Spec; January 12, 2007 at 09:55.
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  21. #21
    rah
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    I agree with those that say there's a 6 month rule but you can't count on it. I've had many checks cleared after 6 months. There are so many automated processes that don't check the date.
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    Spec
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    Originally posted by rah
    I agree with those that say there's a 6 month rule but you can't count on it. I've had many checks cleared after 6 months. There are so many automated processes that don't check the date.
    If it does, its illegal. Both financial institutions are liable. The one that accepted the check, and your bank, because it allowed it to go threw even though the 6 months delay was passed.

    In that case, no matter if you owed the money or not, they have to give you back the money, and withdraw it from the other account. Cashing a check that passed the 6 months delay is the same thing as using fake money, Its illegal.

    Spec.
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  23. #23
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    You should check on the status of your account. And no, I wouldn't say "You haven't cashed one of my checks yet, so I want to know why"... but instead say, that you are updating your records, and you were just checking to see if you had any outstanding liabilities

    If they say yes, you still owe them money, tell them about the check. If they say your account is up to date, wait 3 more months and have a good laugh
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    Good solution.
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    Spec
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    Originally posted by Ming
    You should check on the status of your account. And no, I wouldn't say "You haven't cashed one of my checks yet, so I want to know why"... but instead say, that you are updating your records, and you were just checking to see if you had any outstanding liabilities

    If they say yes, you still owe them money, tell them about the check. If they say your account is up to date, wait 3 more months and have a good laugh
    I wouldn't do that, because that way, you make them check your file and open the door to let them find out.

    I say wait, keep it low and do what I suggested.

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    Spec, it may be illegal but that doesn't mean it doesn't happen. Most people don't ever complain about it since the check is usually a payment for a service or product which if not payed is still owed on. My buddy at the bank said this happens all the time and he had never heard of anyone ever making a fuss about it. (obviously that doesn't mean that it never happens, but more likely shows that it's rare)
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    Originally posted by Spec


    I wouldn't do that, because that way, you make them check your file and open the door to let them find out.

    I say wait, keep it low and do what I suggested.

    Spec.
    Unless you are graduating or leaving... they are going to check the file at some point. You might as well learn right now what THEY think the situation is. It will save problems later, and let you know where you stand.
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    Spec
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    Originally posted by Ming


    Unless you are graduating or leaving... they are going to check the file at some point. You might as well learn right now what THEY think the situation is. It will save problems later, and let you know where you stand.
    Not if you do as I said in post #20 and scare them with research fees. I did it myself with my Hydro bill 6 years ago. They cleared it for free 8 months after since they didn't want to pay for the research fees.
    When you propose to make a research, you show will to fix the situation, and to make it fair, you propose to pay if you are in the wrong, and they pay if they are wrong. Since they COULD bewrong, they'd rather drop the charges instead of paying the fees. They also add man hours on the situation, which end up being very costly for them in the long run.

    Thats why they usually write it off.

    Spec.
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    Spec
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    Originally posted by rah
    Spec, it may be illegal but that doesn't mean it doesn't happen. Most people don't ever complain about it since the check is usually a payment for a service or product which if not payed is still owed on. My buddy at the bank said this happens all the time and he had never heard of anyone ever making a fuss about it. (obviously that doesn't mean that it never happens, but more likely shows that it's rare)
    Trust me, if someone passes a check 6 months after I gave it to them, I will be the first one to call the bank to give them shlt. Otherwise, why the hell is there a 6 month time limit if no one has to respect it?!

    Spec.
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  30. #30
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    But see, universities dont' really care much about time. So they are more likely to say... OK, cancel that one and write us another one.

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