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Old 01-18-2007, 02:43 PM   #11
trinitone
 
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Quote:
Originally Posted by Fiery Sword
Just to cap off this story, I went to (his) bank this morning and presented the question to the teller. She was really nice and was kind of intrigued herself. This was probably voilating some kind of protocol but after typing away for a second she said that there is insufficient money in his account to cash the check, but there are two pretty large pending deposits that would cover the check once they cleared. So, having a reasonable confidence that the check would clear I went over to my bank and deposited it like usual.

She added that writing "For Deposit Only" on the check technically does mean they should not cash the check, but if there were sufficient funds and the Payee was correctly identifiable then she would do it.

......Startup architects are worse than teenagers in the mall when it comes to money....
The least the guy could do is be like "Look, I'm a little short right now but the check will clear on such and such a date."

Just remember that if his check comes back as NSF, then you are responsible and the bank usually charges you a fee as well.
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Old 01-18-2007, 03:56 PM   #12
Fiery Sword
 
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Yea I also talked to the guy who wrote the check today and warned him that if it comes back he is paying me the entire amount + fee CASH.

And I totally agree with the fact that he should just speak up. If he game me the check and asked me to not deposit it until Monday or something, no prob. I already know he is hanging on by a financial shoestring so it's not like there is an embarrassment factor any more! The funny thing is that I'll work 6 hours a night for two weeks for this guy, inclluding all day Saturday and Sunday, and then it's like I'm screwing him over in getting my money! If it weren't excellent side-cash then I'd just avoid working for him but he actually pays well.....when he pays!

 
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Old 01-18-2007, 04:11 PM   #13
Pumbaa
I prefer 23383
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Quote:
Originally Posted by Fiery Sword
If it weren't excellent side-cash then I'd just avoid working for him but he actually pays well.....when he pays!
next time I recomend cash up front
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Old 01-18-2007, 04:17 PM   #14
Reverend JC
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I find it fun to put random crap on the memo line. For example, i run the fantasy FB league for some friends and had to pay out to a few of them ( i won it all this year) so in the memo i put things like, "for a good time" or "for happy ending". it makes me laugh thinking of them taking that check to the bank.
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Old 01-18-2007, 04:29 PM   #15
Fiery Sword
 
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Pumbaa, good idea. I agree.

Reverend, I actually rent from a friend of mine and occasionally write nice little memo's for him on the checks, myself. He drew the line when I wrote "Bl*w J*b" on one and he demanded a new check. Though he did think it was funny. We both decided there might even be some legal implications on that one.....

 
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Old 01-19-2007, 04:27 AM   #16
MariaAZ
 
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I ran into a couple bounced checks in one of my business, and finally got to the point where I only accept certified funds (cashier's check, money order) or cash.

 
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Old 01-19-2007, 04:41 AM   #17
Genghis77
 
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In some states a post dated check is illegal and considered an admission that the funds are unavailable, hence "Insufficient Funds."
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