skymama 37 #1 October 26, 2004 If you float your checks, beware that there is a new law going into affect on Oct. 28th that will affect all check transactions. Basically, the checks you write are going to be electronically passed from bank to bank. What this means to you is that the checks are going to clear much faster than they have in the past but the kicker is that deposits are not going to be deposited any faster. I heard a financial analyst on tv this morning say that the bounced check fees are going to be a gold mine for banks amounting to millions of dollars. It might be a good time to start balancing your checkbook and making sure the money is in the account before you make that payment.She is Da Man, and you better not mess with Da Man, because she will lay some keepdown on you faster than, well, really fast. ~Billvon Quote Share this post Link to post Share on other sites
flyangel2 2 #2 October 26, 2004 Also "stop payments" on checks will be a thing of the past. This sucks.May your trails be crooked, winding, lonesome, dangerous, leading to the most amazing view. May your mountains rise into and above the clouds. - Edward Abbey Quote Share this post Link to post Share on other sites
Slappie 9 #3 October 26, 2004 I pay cash or buy a money order when needing to send money off. I don't even have a bank account anymore. Banks are a ripoff for the convience of storing your money. "Find out just what any people will quietly submit to and you have found out the exact measure of injustice and wrong which will be imposed upon them." Quote Share this post Link to post Share on other sites
DrunkMonkey 0 #4 October 26, 2004 Quote...Banks are a ripoff for the convience of storing your money. Erm...what about establishing a good credit rating? Bank accts/a history thereof are needed for that... Quote Share this post Link to post Share on other sites
ChasingBlueSky 0 #5 October 26, 2004 Or just use your debit card as a debit card. If you choose to use it as a credit card it can take longer for the clearinghouse to hit your bank, and making it easier to bounce a payment._________________________________________ you can burn the land and boil the sea, but you can't take the sky from me.... I WILL fly again..... Quote Share this post Link to post Share on other sites
skymama 37 #6 October 26, 2004 QuoteBanks are a ripoff for the convience of storing your money. Not necessarily. I have a checking account that doesn't have a monthly fee as long as I keep a certain balance and use the ATM for most of my transactions of depositing or withdrawing money. I pay bills online which doesn't have a fee either and I save money on stamps. It's possible to not give them any of your money if you just shop around for the right account.She is Da Man, and you better not mess with Da Man, because she will lay some keepdown on you faster than, well, really fast. ~Billvon Quote Share this post Link to post Share on other sites
sunshine 2 #7 October 26, 2004 QuoteI pay cash or buy a money order when needing to send money off. I don't even have a bank account anymore. Banks are a ripoff for the convience of storing your money. I don't think thats true slapmeister. Besides, a checking account is free at my bank, but a money order costs $1 to buy. Plus i LOVE having my paycheck direct deposited. Maybe you're just a big weirdo. ___________________________________________ meow I get a Mike hug! I get a Mike hug! Quote Share this post Link to post Share on other sites
flyangel2 2 #8 October 26, 2004 I have free checking no matter what the balance is in my checking account. I just did the pay bills on line last month, and it worked great. My plan is to do that all the time.May your trails be crooked, winding, lonesome, dangerous, leading to the most amazing view. May your mountains rise into and above the clouds. - Edward Abbey Quote Share this post Link to post Share on other sites
f1shlips 2 #9 October 26, 2004 Just to be clear: "Although the Check 21 act goes into effect on 28 October 2004, banks do not have to begin electronically clearing checks on that date — Check 21 merely authorizes banks to begin use of electronic check clearing. Most major banks already have imaging technology in place, but not all banks do, and some banks may therefore continue to process checks the "old" way until they upgrade their processing systems." They're not flipping the switch on the 28th, just starting the migration.-- drop zone (drop'zone) n. An incestuous sesspool of broken people. -- Attributed to a whuffo girlfriend. Quote Share this post Link to post Share on other sites
bodypilot1 0 #10 October 26, 2004 QuoteI have a checking account that doesn't have a monthly fee as long as I keep a certain balance and use the ATM for most of my transactions of depositing or withdrawing money. Thats because they are making the fee's you would pay with the money you "have to keep" in the account..... Banks dont do anything for free....www.WestCoastWingsuits.com www.PrecisionSkydiving.com Quote Share this post Link to post Share on other sites
bodypilot1 0 #11 October 26, 2004 QuoteI have free checking no matter what the balance is in my checking account. Must be a small local bank, or you have a ton of cash in another account....? www.WestCoastWingsuits.com www.PrecisionSkydiving.com Quote Share this post Link to post Share on other sites
Icon134 0 #12 October 26, 2004 My bank doesn't require any minimum balance, Its a very large bank (national...) and even reimburses atm fees (mostly because although it is large it has no local branches...) It does require direct deposit but there's nothing that says I can't yank my entire paycheck out as soon as it is deposited. --------------------------------------------------------Livin' on the Edge... sleeping with my rigger's wife... Quote Share this post Link to post Share on other sites
flyangel2 2 #13 October 26, 2004 QuoteQuoteI have free checking no matter what the balance is in my checking account. Must be a small local bank, or you have a ton of cash in another account....? Nope! Key Bank is located all over Colorado. And I'm not one with a ton of cash in other accounts. The reason my checking account is free, is years and years ago they were offering free checking to new customers. That's when I signed up. Then about three years ago, they started charging a service fee to the checking accounts. I went in and talked to them, and they grandfathered me into a program that allows free checking.May your trails be crooked, winding, lonesome, dangerous, leading to the most amazing view. May your mountains rise into and above the clouds. - Edward Abbey Quote Share this post Link to post Share on other sites
skymama 37 #14 October 26, 2004 QuoteThats because they are making the fee's you would pay with the money you "have to keep" in the account..... I would carry that balance in my account anyway.She is Da Man, and you better not mess with Da Man, because she will lay some keepdown on you faster than, well, really fast. ~Billvon Quote Share this post Link to post Share on other sites
WrongWay 0 #15 October 26, 2004 I work at a bank, so I of course know all the nasty details about this new law. I actually went to a seminar on it. Check 21 will be an interesting addition to the banking world, and while the officers will love it, a LOT of customers are gonna be really pissed off...... FWIW, I think it sucks too. I'm guilty of writing a check on Wednesday and expecting it to clear after I get paid on Friday. Everybody does it. All it's gonna do is give people more reason to live "paycheck to paycheck". Wrong Way D #27371 Mal Manera Rodriguez Cajun Chicken Ø Hellfish #451 The wiser wolf prevails. Quote Share this post Link to post Share on other sites
bodypilot1 0 #16 October 26, 2004 Quoteyears ago they were offering free checking to new customers. That's when I signed up. Then about three years ago, they started charging a service fee to the checking accounts. I went in and talked to them, and they grandfathered me into a program that allows free checking. Hmmmm. Not Wells Fargo. They have been fuckin me for over 20 years.... www.WestCoastWingsuits.com www.PrecisionSkydiving.com Quote Share this post Link to post Share on other sites
flyangel2 2 #17 October 26, 2004 Shop around, find a bank that will take care of you. In fact, my son just opened a free student checking account with Key. No service charges, ATM card, On-Line banking, free checks, and over draft protection up to $500. Make your voice be heard by where you bank.May your trails be crooked, winding, lonesome, dangerous, leading to the most amazing view. May your mountains rise into and above the clouds. - Edward Abbey Quote Share this post Link to post Share on other sites
Muenkel 0 #18 October 26, 2004 Would you believe I didn't know what the term "float" checks meant until I read this thread. Who says you can't learn something new on DZ.com? Also, I haven't balanced my checkbook in about 3 years. _________________________________________ Chris Quote Share this post Link to post Share on other sites
skymama 37 #19 October 26, 2004 QuoteWould you believe I didn't know what the term "float" checks meant until I read this thread. I never know the sexual terms until I read about them in Bonfire. She is Da Man, and you better not mess with Da Man, because she will lay some keepdown on you faster than, well, really fast. ~Billvon Quote Share this post Link to post Share on other sites
Muenkel 0 #20 October 26, 2004 QuoteI never know the sexual terms until I read about them in Bonfire. It's not important if you know the terms, just how to use them. _________________________________________ Chris Quote Share this post Link to post Share on other sites
sunshine 2 #21 October 26, 2004 I have dzcom to thank for me learning what "tossing salad" means. ___________________________________________ meow I get a Mike hug! I get a Mike hug! Quote Share this post Link to post Share on other sites
Muenkel 0 #22 October 26, 2004 QuoteI have dzcom to thank for me learning what "tossing salad" means. Not one of your best Sunny. Work on it! _________________________________________ Chris Quote Share this post Link to post Share on other sites
akarunway 1 #23 October 26, 2004 I belieive the proper term is: Function: verb Inflected Form(s): kit·ed; kit·ing Date: 1839 transitive senses 1 : to use (a bad check) to get credit or money ============== And add to that I beleive ALL banks are required to have the technology by Oct 28 to handle checks in this manner. Plus you won't be getting checks back anymore only an electronic copy on request. All this started Sept 11 because airplanes were grounded and and MILLIONS were lost in interest by the banks because all these checks didn't make it to their respective banks. Plus it's another way in a slow process to get rid of CASH so the govt. can control YOUR MONEY and YOUR LIFEI hold it true, whate'er befall; I feel it, when I sorrow most; 'Tis better to have loved and lost Than never to have loved at all. Quote Share this post Link to post Share on other sites
DrunkMonkey 0 #24 October 26, 2004 QuoteI belieive the proper term is: Function: verb Inflected Form(s): kit·ed; kit·ing Date: 1839 transitive senses 1 : to use (a bad check) to get credit or money ============== And add to that I beleive ALL banks are required to have the technology by Oct 28 to handle checks in this manner. Plus you won't be getting checks back anymore only an electronic copy on request. All this started Sept 11 because airplanes were grounded and and MILLIONS were lost in interest by the banks because all these checks didn't make it to their respective banks. Plus it's another way in a slow process to get rid of CASH so the govt. can control YOUR MONEY and YOUR LIFE Nice hat- Is that tinfoil Reynold's Wrap or the store brand? Quote Share this post Link to post Share on other sites
flyangel2 2 #25 October 26, 2004 QuotePlus it's another way in a slow process to get rid of CASH so the govt. can control YOUR MONEY and YOUR LIFE Well if it's a slow process I don't care, I'll be dead by thenMay your trails be crooked, winding, lonesome, dangerous, leading to the most amazing view. May your mountains rise into and above the clouds. - Edward Abbey Quote Share this post Link to post Share on other sites
