All true; if this problem becomes enough of an annoyance, I'm considering closing the account and opening a new one... the outstanding check would bounce should it ever be deposited.
On Wed, Apr 10, 2024 at 11:26 AM Kalpesh Patel <kalpesh.pa...@usa.net> wrote: > " WOULD honor the check " -- that is the price to be paid because of > automation where date, whether hand written out or otherwise, cannot be > deciphered correctly 100% of the time by the check processing equipment and > its OCR, but the check number is in MICR line which is decipherable by all > check processing equipment, hence able to "stop" it. > > Even though check might say valid XX days or valid until some date, I bet > it would get processed just like a postdated check would when deposited. Of > course payer can take an exception with the bank but nonetheless the > payee's bank check processing equipment would not hold it off. > > -----Original Message----- > From: R Losey <rlo...@gmail.com> > Sent: Wednesday, April 10, 2024 12:31 AM > To: stepbystepf...@comcast.net > Cc: gnucash-user@gnucash.org > Subject: Re: [GNC] Recording transactions (date) > > On Tue, Apr 9, 2024 at 4:37 PM Michael or Penny Novack < > stepbystepf...@comcast.net> wrote: > > > On 4/9/2024 12:50 PM, R Losey wrote: > > > Thanks; I wasn't sure if those (cash vs accrual) were the correct > terms. > > > > > > Legally, are you saying that if I write a check for $50 and send it > > > to my uncle, it's "paid" whether or not he ever cashes it? > > > > > > As as aside, I am actually in this situation; I sent e check many > > > years > > ago > > > to someone who has never cashed it; when I asked about it, the > > > person > > told > > > me that they had no intention of cashing the check, but also > > > couldn't > > find > > > it to return it, so I've been carrying that check now for years. > > > Sadly, > > the > > > cost of issuing a "stop check" is not worth it, and the bank says it > > > will honor a check, no matter how old, so I don't see any way out of > this. > > > > What are the laws of your jurisdiction and/or the banking customs? Or > > the rules of your bank as to how long they will consider a check "live" > > (will honor it if presented). > > > > I'm in Texas; I specifically asked the bank and they said that they WOULD > honor the check, regardless of how old it was. This surprised me greatly, > as I worked in a bank in Illinois, and we would hold any check that was > "old" (I think perhaps six months). They suggested I issue a "stop check", > but as I noted, it's not worth it. > > > > > > Most places I have ever lived, most banks I have dealt with, have > > definite rules that apply unless the check itself specifies a shorter > > period. Haven't you ever gotten a check marked "void after 60 days" > > (or > > whatever) > > > > Certainly, but I didn't expect this situation and I didn't write any such > thing on the check. > > > > > Your bank told you WILL HONOR or CAN HONOR? It is common for banks to > > say CAB HONOR to relieve themselves of liability in a case where they > > did honor a check after the date their policy (or jurisdiction laws) > > specify. In other words, "we normally will not honor checks more than > > six months old but can honor a check no matter how old". > > > > I thought they said "WILL HONOR" > > > > > > But back to where this started, you paid your uncle on the date you > > gave him that check. > > > > Right, but this wasn't any kind of legal debt; he had visited and done us > some favors, and we tried to thank him by sending him a check. He said he > wouldn't take it, but he couldn't find it to give it back. He may have > thrown it out; he just couldn't remember what he did with it. Thus, I am > still considering an outstanding check, even though it is probably safe to > consider it gone. > > > > _________________________________ > Richard Losey > rlo...@gmail.com > Micah 6:8 > > > -- _________________________________ Richard Losey rlo...@gmail.com Micah 6:8 _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
