Nov 262007
On uncashed/lost checks?
Bill pay systems that is.
Mine will take the money out of my account immediately. And they’ll send a check. And say that person forgets to cash the check or the check is lost. Instead of me having the money and knowing that there’s an outstanding check, the bill pay company just keeps the change. They’ve got no real incentive to make sure the payer is paid. It is up to me to make sure that the check is cashed, huh?
Figure it’s worth a couple of bucks here and there…
Once after several months, I saw a credit in my account for a check I sent to someone that never cashed it.
Once!