It's my fault you can't balance a checkbook?

[Jay 2K Winger]

Overdraft notices that are coming out of nowhere and for no reason is why I stopped using NationsBank (now Bank of America). I'd been careful tracking my spending in my checkbook, and yes, there were one or two times when I got overdrawn. I paid the fees, since I knew it was my fault, and went on with my business. Then I got overdraft notices when I knew I had money in the account. I went to NationsBank to investigate, and they couldn't explain to me why I was getting these overdrafts. They had no explanation for them. So that's when I said, "You know what? I'd like to close my accounts, please." Closed both my checking and my savings accounts.

Went to Provident Bank (since they'd just opened a branch inside my wholesale club), been using them ever since, even now they've closed the club branch and the bank's been taken over by M&T Bank. No complaints.

[Broomjockey]

I'm a bit embarassed to admit that, at age 35, I was recently divorced and had no idea how to balance a checkbook or use a debit card properly.

I'd not be embarrassed. If it's something you'd never had to do, or not do in a decade, you should be proud of the fact you cared enough to go find out, rather than muck about and then get pissy with the bank when things went sideways!

o.O ...how long ago was that, perchance? As it stands currently, unless stated otherwise on the check, all checks (including personal) are void after six months. I've never seen a check that was valid longer than a year.

There are no expiration dates on checks.

Odd, since in my accounting class they'd told us specifically that cheques older than a year were completely invalid, and shouldn't be honoured. That was quite a while ago though, so it may have changed.

[Aethian]

For those of you who might be looking for a new bank or may just want a bank that gives pretty good interest on their checking accounts I would suggest www.checkingfinder.com. I got a pretty good deal on a online account that I get my ATM fees back if I do at least ten a month and if I do at least 5 debit runs in the store I don't need a min account amount and get 3.25% interest up to 25000.


I had one bank apply funds to an account I had closed which caused me to rack up over 3000 in bounce check fees as well as store fees. They had been given the right deposit slip but had just pulled the account up by name and put it into the first one that was listed. The next time I had gone in there to get this fixed that teller had been let go.

[LillFilly]

To be honest, every time I've come across overdraft fees or a declined card, it has never been my fault. Several times a system had a brain fart and charged me 4 times for one order ($200 a pop!) and I was overdrawn. Another time the bank transfered my money from the wrong account, even though my deposit slip had the correct account information. Yeah it was embarrassing and I got it taken care of, but at the time I found out of course I was upset; it's a bit surprising to find out you're almost $600 short in your account!!

Oh, and my dad made darn sure I knew how to balance a checkbook by the age of 17!

[Crawling_Chaos]

Overdrafts are becoming more common these days. Normally its the person's fault, but banks are not helping the situation either.

A lot of banks have become rather sneaky and underhanded in the way they are clearing withdrawals. They are now clearing the largest one first, not matter how many deposits or smaller withdrawals came before it, thus making people overdraft when they do in fact have enough money coming into their account. They are basically trying o maximize their earnings from fees in these lean times, which is total BS.

[alowlypotato]

There are no expiration dates on checks.

However, they do go stale after a set amount of time (usually 6 months), and after that point, it is completely at the discretion of the bank as to whether or not they honor them.

Aha. A conflation of terms on my part, perhaps? Thanks for the clarification.

I would say, however, that at least some checks have definitive expiration dates, namely those that have "void after [time frame]" printed on them.

[Andara Bledin]

A lot of banks have become rather sneaky and underhanded in the way they are clearing withdrawals. They are now clearing the largest one first, not matter how many deposits or smaller withdrawals came before it, thus making people overdraft when they do in fact have enough money coming into their account.

They've been doing that for years, and years. Wells Fargo got hit with a fine for how they were doing things. This was shortly after I gave them the finger and moved my account to Bank of America. B of A recently changed their overdraft charge system so that there is a single fee that is charged a maximum of once per day (so it doesn't matter if they go largest to smallest, although the withdrawals before deposits will still get you) and they don't charge anything if it's less than $10 over.

I have direct deposit and an ATM-based account, so I pay no fees. If I had to go into the bank and speak with a teller more than three times in a month, however, then I'd have to pay something. Since I've only actually been inside a bank once in the entire last year, and that's normal for me, I've never paid that fee.

I would say, however, that at least some checks have definitive expiration dates, namely those that have "void after [time frame]" printed on them.

Actually, whether or not any terms on the face of a check beyond the payee and amount are only valid in so far as the bank allows them to be valid as per their contract with the account-holder. At least that was the way it read to me.

I wouldn't try to cash one of those, however, as it's entirely possible that the issuer of the check puts a stop payment on all 90+ day checks so regardless of whether the bank honors it, it's still not valid.

What's really intriguing is that stop payment orders expire. And if the bank receives the check for payment after the order has expired, they are free to pay out if they choose and the account-holder is out the money and has no recourse to reclaim it under the law. The only way to ensure that you will never have a stale check go through is to keep renewing the stop payment order for the entire time you have the account.

^-.-^

[AtDIelement]

If I had to go into the bank and speak with a teller more than three times in a month, however, then I'd have to pay something.

This always bothered me, even before I worked in banking (in my movie theatre management days).

First Union / Wachovia use that, what's the point of paying tellers if people aren't allowed to use them?

[Andara Bledin]

This always bothered me, even before I worked in banking (in my movie theatre management days).

First Union / Wachovia use that, what's the point of paying tellers if people aren't allowed to use them?

I have an account type that is set up to be self-administering. I don't, and have never had, a need to deal with bankers, since all I ever do is use my ATM or write the rare check for pretty much everything.

If I wanted more service, I'd have to get a more full-service account, which I expect I will have to do, eventually. Until then, however, what I have does everything I need.

^-.-^

[trailerparkmedic]

This always bothered me, even before I worked in banking (in my movie theatre management days).

First Union / Wachovia use that, what's the point of paying tellers if people aren't allowed to use them?

They're worried that people will use the tellers too much, and require that more tellers be hired. I'm guessing that teller usage is a widespread concern, even if not all companies charge you for talking to the teller. One thing my boyfriend does at work is write newsletters for credit unions, and two of them have requested that he write articles telling people not to use the tellers without saying that outright.

[protege]

I don't think it's a fear of having to hire more tellers...but simple greed. They'll find a way to charge for their services...

Great American Federal (no longer in business) tried something like that with their ATMs. But, with a twist! They actually charged people an "ATM fee" every month...even if you *didn't* use the ATM! After seeing that on my statement the first time, I actually went over there and asked. I have no problem with paying for services I'm using. But, if I'm being forced to pay for something I'm not...fuck that. When it was confirmed that I wasn't using the ATM...I literally told them to go fuck themselves, closed my accounts, and went somewhere else. Needless to say, the entire chain (all 3 branches of it!) disappeared not long after. Good riddance.

[bankworking]

o.O ...how long ago was that, perchance? As it stands currently, unless stated otherwise on the check, all checks (including personal) are void after six months. I've never seen a check that was valid longer than a year.

Depends on the state. Most financial institutions will not accept personal checks that are "stale dated" (over 6 months old), just like they tend to not accept post-dated checks. However, I've been told that, in my state, there is nothing illegal about us taking the checks. We choose not to take the checks because there is a good chance they won't clear (and it's just rude, imo to cash a check written years ago without making certain that the person who wrote it knows what you are doing). If we have a good member who promises us that they have contacted whoever wrote the check two years ago and that person is prepared for it to be cashed now, we can make an exception and cash it.

Shoot, now-a-days so many companies process the checks electronically, we usually don't even get a record of what date was written on the check (BEWARE, all who post-date checks. It may be simple courtesy that the company doesn't cash it, NOT a requirement.)