Corolinth wrote:
That's the thing. The banks used to clear them. They did it every time. He used to do it to catch the banks sleeping on the job. It led to a lot of conversations with my grandfather chewing out bank executives.
Back then, you also didn't have your money available until three days after you cleared the check. So, you wouldn't have been getting overdraft fees because you wouldn't have been "floating" checks that you knew you didn't have the money to back up on the hopes that your paycheck would hit on Friday with direct deposit.
If the money was deposited in the account, you'd have a deposit slip saying it would take 3 days (for example) for the check to clear, on a personal check. My payroll checks were always available immediately. I've never had an instance where a check took 3 days after it
cleared to hit my account, personal, payroll or otherwise; 3 days after deposit, maybe. If the check was deposited in my account, 3-5 days later, vendors would be looking to be paid. I know I used to put checks in the mail to pay bills on Monday after pay day.
Corolinth wrote:
Finally, if you did have a check bounce, I'm sure he would've issued another one with his signature on it.
How long would it take for
that one to clear, and the money to be available?
Corolinth wrote:
I imagine he also would have asked you why you didn't notice that the check had Mickey Mouse's signature on it rather than his.
I imagine I'd have told him that I hadn't expected
him to be playing sophomoric games with my paycheck.
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"Dress cops up as soldiers, give them military equipment, train them in military tactics, tell them they’re fighting a ‘war,’ and the consequences are predictable." —Radley Balko