Outrage, Scandal!!!

[d barham]

I just talked to my bank about a check I sent in the mail that never reached its intended destination. I thought I’d put a stop payment on the original check and write a new check to be delivered personally. (I know, I know. The perils of doing business the old way)

$34.00 is what my bank charges to stop payment. I’m set aback. Shocked. I was willing to pay up to $10 or so. $34? I just don’t think so.

 

[TeleBluesMan]

Sucks. Here's what I found:

Bank	Stop Payment Fee	Fee Waivers and Discounts
Capital One	$35.00	$25.00 for Capital One 360 Checking
Chase	$30.00	-
Bank of America	$30.00	Waived for Interest Checking
Citibank	$30.00	Waived for Citigold®, Citi Priority, or Private Bank clients
Wells Fargo	$31.00	-
Fifth Third Bank	$33.00	Waived for Enhanced and Preferred Checking
Ally Bank	$15.00	-
HSBC	$30.00	Waived for Premier Checking
PNC	$33.00	Waived for Performance Select Checking
TD Bank	$30.00	Waived for Premier and Relationship Checking

 

[schmee]

Yeah, many have charged that much for years. Ridiculous. Like saying "it's gonna cost you to act securely"

The other thing I have actually changed banks over is their reluctance to deposit checks, like a $15 check to wife and me both such as an insurance refund for good driving, wife signed, but they don't take your word that it was her, they want her to come in .....for a $15 check? REALLY?
Last thing I said to them is: "So if that's the case if a check bounces with both signatures you're gonna eat it, not reject it then? The worse case scenario is it bounces and you charge me for that also right?" It's a damn deposit!

On the other hand, you can scan a check with your phone and deposit it with modern banks! How the heck do they even know it's you????????????

 

[Milspec]

I just talked to my bank about a check I sent in the mail that never reached its intended destination. I thought I’d put a stop payment on the original check and write a new check to be delivered personally. (I know, I know. The perils of doing business the old way)

$34.00 is what my bank charges to stop payment. I’m set aback. Shocked. I was willing to pay up to $10 or so. $34? I just don’t think so.

That is nuts. It would be cheaper to close the account and open a new one instead....probably get a toaster as well.

 

[SPUDCASTER]

That's about the going rate. Even the credit unions are about the same.

 

[kuch]

I just talked to my bank about a check I sent in the mail that never reached its intended destination. I thought I’d put a stop payment on the original check and write a new check to be delivered personally. (I know, I know. The perils of doing business the old way)

$34.00 is what my bank charges to stop payment. I’m set aback. Shocked. I was willing to pay up to $10 or so. $34? I just don’t think so.

Hey DB,

Doesn't your bank have electronic banking? It's called "Bill Pay" for us.
We have it at our bank/cu and it's really convenient and easy to use. One time set up. We pay all of our bills including our mortgage every month. Once you set it up, you just log on when you want/need to pay a bill and plug in how much you want to pay and when to send the check It even works for one time payments.
IIRC the only time I send a check anymore is to the IRS once a year....

 

[Short on cash]

Banks are the worse......
I'd rather deal with the street corner loan shark.
At least you know what you are dealing with.

 

[aging_rocker]

I haven't used or even seen a check (or even a cheque) for decades. I don't think they are even accepted anymore.

Mostly only used in the US these days, then?

Slightly related, I took my son to a bank the other day so he could deposit a bunch of cash. Despite being a customer for years, he had no idea where the nearest physical branch was. I don't remember the last time I went in one.

 

[cycler]

Just went through the same business with Wells Fargo.. Cost me 31.00 to stop payment on a lost check.

 

[buster poser]

Life in the big city, y’all

 

[Killing Floor]

Can’t you catch the mail wagon at a livery along the way?

 

[Happy Enchilada]

You still write checks?
I thought it was only old ladies at the grocery store in motorized carts.

 

[0SubSeanik0]

You still write checks?
I thought it was only old ladies at the grocery store in motorized carts.

...that are ahead of me in line.

 

[stormsedge]

I think mine was $25 the last time I did a stop payment. But at the time, the outfit concerned had lost two checks...so it was actually $50. We parted ways at that point, since they (a hunt club) just couldn't handle checks (and who knows what else) properly.

 

[Dennyf]

I wrote one check in May last year. The previous check was written in April of 2019. Between on-line banking and Zelle, Venmo and the like, checks have pretty much gone the way of the buggy whip.

Cash is still (marginally) useful, and I get that from an ATM. I think it's funny that a bank will ask you if you're a customer just to make change. I guess they just want to make loans, otherwise they'd just as soon not see you.

 

[Knows3Chords]

I think the real problem here is the Post Office losing, or worse, the check. I wouldn't trust the Postal Service around here to delivery anything, especially a check. It will be futile, but I would contact your Post Office and file a report. As bad as that stop payment is, I would do it.

 

[ficelles]

I haven't used or even seen a check (or even a cheque) for decades. I don't think they are even accepted anymore.

Mostly only used in the US these days, then?

Slightly related, I took my son to a bank the other day so he could deposit a bunch of cash. Despite being a customer for years, he had no idea where the nearest physical branch was. I don't remember the last time I went in one.

My bank sent me a cheque book last year... I have no idea why as I've only used one from the previous book. Maybe they have a use-by date.

 

[ddewerd]

You still write checks?
I thought it was only old ladies at the grocery store in motorized carts.

I still write a few checks once in a while.

Mainly for charities (or similar one offs like supporting the local school fundraiser), and also for anything that could end up being a recurring charge, like auto renew magazine subscriptions. It gives me more control - if they have my CC number they will auto renew even if you try to cancel.

Some of my bills, like house insurance and septic inspections, are done with local, rural businesses, where the only option is to pay by check. So I end up writing 4 or 5 a month.

I don't trust peer to peer apps, so I don't use them. Although a friend of mine set one up for his solo jazz sax gigs for tips - even set up a QR code for it, after he noticed his tip jar was not getting much cash.

But I do pay most of my bills with online banking. But I'm still super careful, and maybe a bit paranoid. I've had several instances of CC fraud with my cards (that all thankfully got resolved), but I would be devastated if my hard earned money just went poof one day.

Cheers,
Doug

 

[john_cribbin]

Don't think I've written a cheque this century.

 

[scottser]

Cheques? I'm 54 and have never had a cheque book. When I opened my first account I got a card to use in an ATM.
My dad used to send my kids a cheque on their birthdays but we never lodged them because getting to a bank is a PITA.