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As much as people make fun of the widespread use of checks in the US, it actually seems much better for this use case, for at least two reasons: 1) the check w
by tacostakohashi 8y ago
As much as people make fun of the widespread use of checks in the US, it actually seems much better for this use case, for at least two reasons:
1) the check will be handed over in person to someone you've met before, or at least mailed to a known postal address which is harder to spoof than email.
2) If you present a check for $12m to a bank, it will get the scrutiny it deserves, and won't clear immediately.
- JamesCoyne 8y agoTo your second point, my anecdotal experience has shown that once a check makes it past the receiving bank clerk into the electronic clearing system, all manner of errors are allowed. E.g. dates in future, wrong payee, garbage signatures. The simplest way to pass a check with an error is to deposit it with 9 other "good" checks. Has anyone had a check bounce due to a bad signature?