11-25-2003, 01:49 PM
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Too lazy to set a custom title
Industry Role:
Join Date: Jul 2001
Posts: 59,204
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Quote:
Originally posted by corvett
Battuss, i have been involved in many of these sorts of issues and can better explain our position over ICQ, if you like. 45471840
Basically, we need to cancel a check before one is reissued to get it off of the books. We can?t risk a reissued check being cashed at a later date, which is an obvious concern. As well, we cannot rely on tellers looking at the ?expire? date on a check and not accepting it, in a real world scenario.
There is a cost with the bank associated with canceling the checks; we don?t make ANYTHING off of a check cancellation. On the contrary, check cancellations cost us the time it takes to pass by all of the various employees in the process to send it off; process and verify the request, send it to the bank, get the response, make the various book entries, get it reinserted, send the client email off, etc.
Necessary evil
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Thanks alot...i wasnt really bitching, im already happy i got my money, i just saw it as 200 bucks down the shitter.
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