6 risks of using personal checks

  • Get FREE 5 Gifts with Orders $59+

6 risks of using personal checks

Jul!a Jul!a
I've managed to cut down having to use checks to specifically at the DMV and a few smaller payments here and there, and I couldn't be happier about it. Having a job at a bank I often hear about different scams, and a lot of those are about check fraud. Yahoo has a list of 6 risks of using personal checks where you should take note and be cautious while using checks. A little bit of forethought can save you a whole lotta headaches!
07/15/2011
  • Buy 3 Items for $70
  • Buy 3 Items for $50
  • Buy 3 Items for $30
  • Save 20% on Luxury Toys
  • Add Some Buzz To Your Favourite Toy & Save 60% On Kit
  • 1
  • 2
  • 3
  • 4
  • 5
All promotions
married with children married with children
most of those things you can stay away from if you have a locking mail box, and if it sounds too good to be true= stay away. Many office stores also sell pens that can not be bleached or washed from your checks, so even if the wrong person gets a hold of your check there is nothing they can do with it.
07/17/2011
Eucaly Eucaly
As far as waiting for checks to clear, most checks still haven't cleared after the bank says they have. This is the loophole that allows the Nigerian printer scams to work. Even one month after the bank says the check or money order cleared, it still hasn't cleared.

If banks actually told the truth about when checks and money orders cleared, then many of these scams wouldn't be possible.
07/17/2011
Ms. Spice Ms. Spice
eeek. this is why i avoid checks like the plague...
07/18/2011
Retro Retro
Quote:
Originally posted by Jul!a
I've managed to cut down having to use checks to specifically at the DMV and a few smaller payments here and there, and I couldn't be happier about it. Having a job at a bank I often hear about different scams, and a lot of those are about ...
I never use checks unless I have to. If for really large amounts I get a cashier's check and either way I am presenting it to the person/place personally. Thank you for the link.
07/18/2011
Eva Schwaltz Eva Schwaltz
This is why I don't use cheques. Only my landlord gets them.
07/18/2011
js250 js250
I have cut checks out completely. I use 1 reloadable debit card for monthly bills (or postal money order-traceable), 1 reloadable for internet and mail purchases and have a savings account to deposit paychecks etc. It has saved me so much hassle!!!!
07/18/2011
Wondermom Wondermom
I still use checks but only for bills that I mail in, and I always use a fraud proof pen and the free bank checks. Anything else we use debit, credit or cash. Our bank sends us daily e-mail account updates of the daily transactions and current balance, which helps a huge amount with watching for fraud.
07/18/2011
P'Gell P'Gell
I hate personal checks. One of the problems is, that I run a small business and don't make enough to justify accepting credit cards. I also take a deposit for equipment that I rent and then have to return the money, after the equipment is returned. This neccesitates checks.

I was thinking about using PayPal, but most of my clients are new parents in crisis. They often come right from the hospital to my home for equipment and commonly the baby is still hospitalized. Asking them to go home, log onto PayPal (or worse, have to start up a PayPal account) in order to pay me is asking too much of them in a time of great stress.

I have had a few bounced checks from clients. As a small business owner most banks will deal with me and let me know if the account a client has written a check from has enough money in it to cover the check or if the account is active.

I once had a client angry because I didn't cash the check she gave me on a determined day she proscribed, telling me she was "going to close the account soon. I did tell her that my doing that would probably not happen (legally you have 12 months to cash a check in most places) and that the bank would require her to leave enough money in the account to cover any outstanding checks. She put a stop payment on the check. It cost her a LOT in fees, as I talked to her bank and they let me know her account had NOT been closed and that the money was there.

I prefer to deal in cash, but people don't always have the cash to pay for their products or my services on hand. I'm about ready to give a discount for cash transactions.

I hate dealing with checks.
07/18/2011
Total posts: 9
Unique posters: 9