Quote:
Originally Posted by sisombat85
requested vff withdrawal 3/7
approved 3/9
vff got cancell 4/6
check sent 4/6
recieved check 4/7
tried to deposit thru atm didnt work .unable to read check.going to try and go to the teller tomorrow . fingers cross
Checks are great. I've never had any issues with them. I prefer them. Some personal tips:
1) Use a MAJOR BANK (where you already have an open/active checking account).. I would personally avoid depositing at a regional bank or local credit union. Major (National) Banks already have pretty robust networks in place and clearing times should be short/normal. It's not that smaller banks and CUs shouldn't eventually clear your check.. they just don't particularly have those resources dedicated like the big banks already do.
2) I know we're advised to deposit via ATM but this doesn't work for me and I feel like they say this just to make sure you don't say something stupid to the teller. I guess if you can successfully deposit via ATM then go for it but I would just go in during business hours, smile at the teller, hand them your check/ATM card/ID and let them know you'd like to deposit to your already open checking account.
3) They (teller) may make a comment about the check being from up north (prbly because they stare at checks all day and a northern check might be interesting to them), doesn't matter.. if you think you need to -or feel more comfortable this way- just say that it's payment received for
Consulting Work or
Freelance Design (of any kind). As long as the check is in US funds (and it is) there isn't anything they can do about it, so have no fear.
4) The funds are good, the check will clear - Just make sure you follow the above to ensure normal clearing times. Only reason you might have issues is if your particular account is already flagged by your bank for some other unrelated issue(s) you may have with them.
Oh and, idk about other banks, but my particular big bank does charge me a small "
Up North DEP ITEMS @ 5.00 PER ITEM" fee - small price to pay for a next business day clear imo.
$5.00 bucks on my end is no biggie to me on a max check, but (unrelated) it sucks now that I (and apparently most of us who did) no longer receive one free check/month. That $50.00 Bovy fee is pretty decent rake.
I've never used VFF and from what I've seen in this thread I kinda cringe at the thought of using it going forward - even when things get all cleared up. And with a reduced max to 2.4K, any additional max monthly VFF withdrawal beyond the first in a calendar month will now incur a 2.1% fee ($50/$2400). As someone who watches his margins pretty closely this doesn't particularly sit well.
Given the recent processing debacle
and the fact that the max withdrawal amounts for both methods aren't that high to begin with, I feel like they should reevaluate their processing fee policies - something like dropping the fee to $25.00 per check and/or additional monthly VFFs.