You have $100 in your checking account..

[pontifex]

Originally posted by: sandorski

Originally posted by: Whoozyerdaddy
You still write checks?

..and Businesses still accept them?

i write checks for bills and for work done on my car and the occasional item.

 

[Doboji]

I'm sure it's fine.

 

[Doboji]

Originally posted by: keeleysam

Originally posted by: goku

Originally posted by: FelixDeKat
You have $100,000.00 in your checking account. Realizing you have 6 digits saved up you crack a large smile and not worry about anything.

Real smart, that way you don't get interest on that money... :roll:

My checking account with Chase (Bank One) has interest. It's not much (1% IIRC), but it's better than nothing.

With $100,000 in there, that's a very nice dinner.

Why the f do you have a 100k in your checking... put that in an ING account... 4% interest FTW.

 

[gigapet]

Originally posted by: TheGoodGuy
first off you can float a check anymore.. its illegal, and check transactions go thru immediately now.

Secondly if you got savings and checking in the same bank.. just move hte money over and then write the check.

umm your approx. 100% wrong. I float regularly and recieve floats regularly.

 

[tk149]

Originally posted by: gigapet

Originally posted by: TheGoodGuy
first off you can float a check anymore.. its illegal, and check transactions go thru immediately now.

Secondly if you got savings and checking in the same bank.. just move hte money over and then write the check.

umm your approx. 100% wrong. I float regularly and recieve floats regularly.

If your bank decides that you are playing the float, they will close your account. If you're only floating small amounts, they may not notice it. If you're floating large amounts, then it's only a matter of time before they catch you. With Check 21, float times will dramatically decrease, as more institutions implement electronic transactions.

OP: Try calling your bank? What makes you think ATOT knows your bank's policies?

 

[Reckoner]

I wrote a check for the downpayment on my car yesterday ::shrug::

 

[Schfifty Five]

Originally posted by: goku

Originally posted by: Schfifty Five
You should get a credit card and use it responsibly. Then you wouldn't have these kinds of small problems.

I hate credit cards, america wouldn't be the debt-shithole that it is today had credit cards and home loans not existed.. Home loans aren't nearly as bad but when you've got people refinancing their homes it just shows complete stupidity on the part of the home owner, I mean what if the house loses value?

That's why i said use it responsibly. If you can't use it responsibly then definitely don't get one.

But if you could be smart about using it, then you would know you could charge it on the CC then pay it off later w/o having to worry about insuficient funds and stuff.

 

[FelixDeCat]

Originally posted by: goku

Originally posted by: FelixDeKat
You have $100,000.00 in your checking account. Realizing you have 6 digits saved up you crack a large smile and not worry about anything.

Real smart, that way you don't get interest on that money... :roll:

You do what you want with your piddley $100 checking account and Ill use an interest bearing money market checking account.

 

[wetcat007]

Originally posted by: hongkongfever
i remember hearing on the news that money is automatically deducted now when u write a check and they scan it at the store. so i wouldn't write one first without transferring the funds.

This is true with the majority of stores, or at the very least they have a system that checks to see if there's enough funds in the account.

 

[zanieladie]

Originally posted by: hongkongfever
i remember hearing on the news that money is automatically deducted now when u write a check and they scan it at the store. so i wouldn't write one first without transferring the funds.

:thumbsup:

 

[jagec]

Originally posted by: FelixDeKat

Originally posted by: goku

Originally posted by: FelixDeKat
You have $100,000.00 in your checking account. Realizing you have 6 digits saved up you crack a large smile and not worry about anything.

Real smart, that way you don't get interest on that money... :roll:

You do what you want with your piddley $100 checking account and Ill use an interest bearing money market checking account.

It's still stupid to keep $100k in liquid assets if you're not planning on using it. You're actually LOSING money after inflation is taken into account. Invest that $$$ ASAP!

 

[OrganizedChaos]

i wrote a check once. i found that it was a PITA and never did it again.

 

[Schfifty Five]

Originally posted by: FelixDeKat

Originally posted by: goku

Originally posted by: FelixDeKat
You have $100,000.00 in your checking account. Realizing you have 6 digits saved up you crack a large smile and not worry about anything.

Real smart, that way you don't get interest on that money... :roll:

You do what you want with your piddley $100 checking account and Ill use an interest bearing money market checking account.

You do realize that you can put that $ into a savings account with a higher return right? Like ING or something. It's free and it's liquidable. You can still use the money you put in there....it's not locked in like a CD. So basically you're just throwing money away by leaving it in that really low % return.

 

[dullard]

Credit cards for the win. This problem will never exist if you can use a CC with restraint.

Originally posted by: gigapet
umm your approx. 100% wrong. I float regularly and recieve floats regularly.

Umm, gigapet, he is correct. It is (and always was) illegal. However, it was easy to do this without being caught since checks took so long to clear. Now that the check21 bill passed, the time you have to cover your illegal tracks is diminishing rapidly. So yes, you can continue to break the law. But you'll find it harder and harder to get away with it now. One day, your behavior will catch up to you.

Just a fair warning.

 

[erub]

Credit cards for the win. This problem will never exist if you can use a CC with restraint.

and get cashback/miles for the double win! Chase Cash Rewards or Citi Dividend Platinum Select - let them pick up some of the tab

 

[mcvickj]

Never been a problem for me. Before my credit union offered debit cards I was using checks. If I didn't have the balance to cover the check in my checking account they would automatically draw the remaining amount out of my savings account. Free of charge. Small Credit Unions FTW!