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Yes, absolutely! You are obligated to pay your rent, and you haven't done so yet. Since this was your landlord's issue and not your own, if your bank charges you a stop payment fee, it would be reasonable for you to request that the landlord allows you to discount the rent by that amount when you rewrite the check.


104

Your obligation wasn't to write a check...it was to pay your landlord. And you haven't actually paid until money has gone from you to the landlord. So you're still obligated to pay. (You might not have to write another check. Any method of payment the landlord accepts will work. But if they will only accept a check, then check it is.)


46

Yes, it is safe, we have been doing it for years. We prefer our tenants to make their rent payments in this manner. In fact, we prefer that they set up an automatic payment for the rent, either through their online banking or through their bank directly. Apart from getting your rent on time, this method also has the added benefit of both parties having ...


46

It sounds like the problem is that when your husband got paid twice a month, his paycheck was large enough to cover the bills in full so you were able to pay them right away, then you could use the rest of the money for optional expenses like entertainment, or you could cut back on variable expenses like groceries. Now that he's being paid weekly, a single ...


43

Yes, you are still obligated to pay the rent. I don't know Canadian law, but in the US, your obligation to pay a debt is generally relieved when control of the money passes to the other person. In a simple case, suppose you paid the landlord with cash. If you gave him the cash, and then as he was on his way to the bank to deposit it, or on his way to the ...


42

I'd consider this offer. Keep in mind, any time you write a check, there's the information he's asking for. If it makes you feel comfortable, use the small balance account, or set up a 4th one you'll use for these incoming deposits only.


36

The ideal state is one in which it doesn't matter when either of you get paid. Where you use last month's income to pay this month's expenses. The starting place is a simple budget. You know when money is coming in, and you know when your fixed expenses are due, so just map it out on paper/spreadsheet to know how much of each paycheck needs to go to which ...


34

The Régie du Logement is the government agency responsible for setting regulations regarding leases in Québec. They are very clear that paying the rent in full is your #1 obligation as a tenant. When paying by cheque, the rent is generally deemed paid when it has been honoured by the tenant’s financial institution, according to the Régie link above. In your ...


29

It's safe. You give people those numbers every time you write a check. If a check is forged, and doesn't have your signature on it, the bank has to return the money to you; they get it back from the other bank, who takes whatever action it deems necessary against the forger. They've been doing this for a few hundred years, remember.


25

The main concern I'd have is that something will happen to the account while it's unattended. While you may not have any money in it to risk, you could have a fraudulent check written against it that causes you to incur NSF fees. Your bank also might change its no-fee policy (I assume these are no-fee accounts, or there's an obvious drawback). If it does, ...


23

Your practice of waiting until you can pay cash is a good one. It will certainly prevent you from getting into debt! Now, to be clear, your question puts a credit card in the same category as a loan, but it doesn't have to be. You could use a credit card almost like cash, if you are careful. I'm not familiar with the system in France, but in the US, even ...


22

I got to work on overdraft class action suits with many of the largest banks in the US. Every bank we analyzed data for batch processed transactions at the end of the night, and posted credits first, then debits from high to low, with some having sub-categories for debits, ie ACH/POS/ATM/Checks where Checks often get processed first among the debits. Your ...


22

The "danger" of using a debit card is that what backs it is your real money. If there is a fraudulent transaction, the money that is used to settle the transaction is yours. Yes there is a dispute and fraud protection policy offered by your bank, and should you qualify for it you'll get your money back. If you use a credit card and there's a fraudulent ...


22

This is simply a variant of deposit scams. No, you will not be arrested as this is just part of social engineered blackmail by the scanner. However, this an indication of identity theft, you must report the incident to the bank immediately (don't delay, call today). Check whether it is necessary to file a police report or whether the bank anti-fraud ...


20

None of what you mentioned is part of your credit report, unless you close an account that was overdrawn and has been referred by the bank for collections. In the U.S., your banking history is maintained by several companies, the largest of which is ChexSystems. When you open a new account, the bank will request your history from one of these firms and, ...


17

Believe it or not, this is done as a service to you. The reason for this has to do with a fundamental difference between a credit card account and a checking account. With a credit card account, there is no money in the account; every charge is borrowed money. When you get to your credit limit, your credit transactions will start getting declined, but if ...


15

Banks work pretty hard to make themselves a big part of your life with bill pay, auto-deposit, loans and other services. You need to carefully unwind each one and be on the lookout for fees. If you close a savings account, will your checking account suddenly have fees? If you stop auto deposit, will there suddenly be a fee? Setup your new account ...


15

Unless your agreement says otherwise, the bank is authorized to debit your account for the amount — and then charge you an additional fee for being overdrawn. If you do not add money to the account to bring it into a positive balance, they can pursue you for it just as they could any other debt. They may also choose to close your account instead.


15

The reason they want the transaction to go through is because they make money that way. Remember the overdraft protection might incur a fee. If it does their experience may show them that the fee is a greater source of profit when balanced against the losses incurred because of insufficient funds. Even free overdraft transactions are limited. If they didn't ...


14

You voided the check, so now you still need to pay the rent. This is an area of law called "Mitigation of damages" -- everyone has a duty to prevent loss. Mainly, this shows up when you break a lease. You lease to December but on March 1, give notice for April 1. If you tell him ASAP, and he must make fair effort to find a new tenant ASAP. Once the ...


13

I noticed that the interest rates on savings accounts are significantly higher than those of checking accounts. Why is this the case? Balances in savings accounts tend to be maintained for much longer periods of time (both by choice, and by restrictions on transactions), so the bank doesn't need to keep as large a reserve and can loan out more of the money, ...


12

why one is often asked whether the source account is checking or savings? Some of this is legacy. Once upon a time Account Number were repeating for Savings and Checking [as well as Currency]. Hence the Account type together with Account Number was unique. However in recent times, all banks have unique account numbers. Most clearing formats; for example ...


11

Several things to do: Change your bank. $2 for a check? Why?? When shopping for a new bank: ask for a free checking account. College students can get free checking in almost any bank. At least the first box of checks will be free, which will give you enough checks for the next several years (I'm still not half done with the box I got from WaMu 5 years ago). ...


11

For some people, it's easier to stick to a budget if they have separate checking and savings accounts because they can deposit funds directly into their savings account and not have those funds accessible by debit/credit card, checks, etc. This allows people to pay themselves first and accumulate savings, while making it slightly more difficult to spend ...


10

Bank normally advise customers not to close accounts if there are outstanding checks. Its just advice so that the customer doesn't land in trouble if there are outstanding checks and the account is closed. Tell the bank that there are no outstanding checks and close it. There is no way the organization would try to cash a one year old check. If even they ...


10

Firstly, it isn't so generous. It is a win-win, but the bank doesn't have to mail me a free box of checks with my new account, or offer free printing to compete for my business. They already have the infrastructure to send out checks, so the actual cost for my bank to mail a check on my behalf is pretty minimal. It might even save them some cost and ...


10

In the US and Canada, you would typically pay between US$12 to 25 for an initial order of 250 checks, in 5 books of 50 each. This includes the register and check book case. The checks have your name, your address, unique bank account number and bank routing number on each check. The bank will NOT refund your money for any unused checks. In fact, you need to ...


10

Some benefits of having a business checking account (versus a personal checking account) are: You can deposit checks made out to the business name. This improves perception of your business's validity. You can have multiple signers on checks if you ever want to delegate paying bills to someone else. If you want to accept credit cards directly from a bank, ...


10

A bit of googling suggests that this is indeed a scam. There is no such thing as a "COT code", but the term is sometimes used as one of the steps in an advance fee scam. The victim is told that before they can receive a wire transfer of the large amount they've been promised they need to pay to have a "COT code" (which ostensibly stands for Cost Of Transfer)...


10

Note: I am not a lawyer; this is not legal advice. Yes, this seems to be quite legal. The article What Happens to Inactive Bank Accounts on My Banktracker starts with the warning: What happens to inactive bank accounts? If service fees haven’t already drained the balance on the account, an inactive bank account is turned over to the state treasury, ...


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