Quote:
Originally Posted by Sly
I know that you aren't American so you may not understand how American banks work with checks, but they always charge you a cancellation fee. And checks don't really "expire", despite the "void within X days" written on the check, it depends on a variety of factors.
So yes, there is $4000 involved, if there really were weekly checks for 4 years. It's probably more than $4000 if they all needed to be canceled.
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Correct. UCC only allows them to decline stale dated checks. It does not require a bank to do so. Any bank will recommend that you put a stop payment order on any check you do not wish to have paid if presented.
Even the "void after XX days" is just a request, as banks do not have to honor any signature lines. It's like that so that they do not have to worry about a million variables when processing a million checks a day. That and with Check21, many checks are never seen by bank personnel unless it ends up in the exceptions pile.