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Your checkbook just became obsolete
A new law makes canceled paper checks a thing of the past. Say goodbye to the 'float' -- and the chance to stop a transaction or spot forgery.

I think this will be the nudge a lot of people need to make the move to automatic debiting and online bill payment.

Comments

( 11 comments — Leave a comment )
zuggy9
Sep. 16th, 2004 04:14 pm (UTC)
The only checks I write are for bills. I'd personally rather do without them altogether.

Though writing a check on the night before payday was nice when I used to do it.
juldea
Sep. 16th, 2004 04:45 pm (UTC)
The only checks I write these days are for rent. My landlord doesn't take debit card...
vogonpoet
Sep. 17th, 2004 09:21 am (UTC)
If you get free checking through Bank of America they give you free bill pay, as well. It's actually a pretty good service. If they don't deliver on the date they say they will they will pay any late/overdue charges.
juldea
Sep. 17th, 2004 09:42 am (UTC)
Erm, I assumed bill pay was just another credit-cardy type of payment...
vogonpoet
Sep. 17th, 2004 12:28 pm (UTC)
Nope. I pay my rent with it each month. They take the money out of the account on the day I specify, then it takes between 2 and 7 days for them to get the check to my apt complex. So, I have to be careful to make sure that I have the money there on that day, but it's really not so difficult. And, for some bills they can automate it so that you don't have to even bother with checking how much it is. I do that with my gas bill. They get the amount from TXU Gas and send the money to them electronically on the due date. The only people I seem to have problems with is Verizon.
juldea
Sep. 17th, 2004 12:39 pm (UTC)
So do you specify a date 2-7 days before the first of the month?
vogonpoet
Sep. 17th, 2004 01:53 pm (UTC)
Yep, that's correct. The time frame depends on what kind of account it is. My apartment doesn't have an account with BoA, so I have to specify a time 7 days prior to the latest due date. Same thing for my car payment. But, for a couple of other bills the date is only 2 days in advance.

They have only messed up once (in over 2 years that I have been using this service) and they offered to refund any fees, but the apartment complex agreed to drop the fees that one time.
juldea
Sep. 17th, 2004 01:59 pm (UTC)
Innnnnteresting.

I don't live in a complex; just a house, and the landlord lives downstairs. That should make things pretty damn easy...
spasmsproject
Sep. 16th, 2004 06:47 pm (UTC)
I dunno... The article also states that when we lose the checks, we lose a lot of legal standing in case of fraud or stop-payment. It's a lot easier to perpetrate fraud online than it is to do so with real paper. This new law does not thrill me.
greeneyed_devil
Sep. 16th, 2004 07:00 pm (UTC)
I hate checks.
angrykeyboarder
Sep. 17th, 2004 02:03 am (UTC)
It took me about 5 years to go though a box of 200 checks. I have virtually no use for them and before I paid bills online I was at least not getting canceled checks sent to me every month. I've not received a canceled check in the mail in probably 15 years. Hell at this point, they don't even mail my monthly statements to me. I get them online as well.

BTW, I found you in a community we're both in and added you as a friend. You seem cool. Add me back? :-)
( 11 comments — Leave a comment )

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Melissa, starry-eyed soy-lovin' Expatriated Zulu

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