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

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

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

It's all about risk management.

Paychecks are less likely to bounce.

| improve this answer | |

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.