12

I am getting paid with checks so each time I deposit it to my bank account they ask whether it is a paycheck or not. What difference does it make?

  • 1
    Who asks? Your bank? Is it a pretty large transaction? Is it a hand written check or a computer printed check? – MrChrister Dec 17 '10 at 20:15
  • 3
    Suggestion: Ask them :P – Matthew Read Dec 17 '10 at 20:41
  • @MrChrister bank teller is the one who asks, checks are hand written, and transactions are not that big, unfortunately :) – serg Dec 17 '10 at 20:52
15

Some banks waive the normal holds for check clearance for paychecks.

  • that's probably it... – serg Dec 17 '10 at 20:58
  • 1
    so the answer is "yes" – Sparr Dec 18 '10 at 1:20
6

It's all about risk management.

Paychecks are less likely to bounce.

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