Originally posted by 99contourdriver:
What is this? I've never heard of it. Sounds like those of us with checking accounts are in for lots of headaches! I don't like the sound of that, and what exactly is the point? "Checks may bounce" are words I don't wanna hear!


I think what they were getting at is that people like to write checks, but not deposit funds to back the checks until days later. The site says that this new law will make it so checks get processed faster, therefore taking the funds out sooner. This sooner time may end up being faster than you can put funds into your account, provided you're one of those people.

I don't think it's anything to worry about even still. I mean who cashes your checks immediately after you write them, aside from friends or something?
When I write a check, I always make sure there are funds in there, but it still never gets cashed until a week later due to me having to mail the check, and them sitting on it for a couple more days before cashing it.

Kim 1995 Contour GL Needs less "needs more"