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Originally posted by RedBalloon
This one is easy to solve: Don't write a check if the money isn't in your account.
Originally posted by GrndLkNatv
and Content Manager OnDemand software along with the desire for every bank in the world to get you to use a credit card instead of checks so that they can eliminate the federal reserve clearing houses. If you don't believe this, just wait and watch.
But the change won't affect the length of time banks are allowed to hold deposits, which is covered under a different law. Consequently, the checks you write to pay your bills could clear while there's still a hold on your paycheck, triggering overdraft charges.
That prospect has a lot of folks crying foul. Consumers Union, an advocacy group, has received more than 16,000 signatures on an online petition expressing concerns about Check 21
Originally posted by Bout Time
Many CC Co.s have stopped sending cancelled checks back to you already...tracking down or proving payments will be another fee generating service 'provided' by the banks.