personal check question

[redrhodie]

Sent my rent check to my landlords last week, and they still haven't gotten it. It hasn't been cashed yet. The landlords are willing to wait a little longer. When should I put a stop payment on it? I mailed it on the 30th. Seems like it could still get there. What would you do?

[channlluv]

This happened to me a few months ago, too. I mailed the landlady a second check for the rent with the understanding that if the first check showed up, that she'd use it for the next month's rent.

I also notified my bank in case someone showed up trying to cash it, but didn't put a stop payment on it because it costs over $20 to do that these days and I just didn't want to pay it, although that may come back to bite me if it was taken for some nefarious purpose.

Roxy

[bmccasland]

Ask how many days they're willing to wait. Most banks charge a stop payment fee, which can be pretty stiff.

[indysteel]

If you trust your landlord, I would write a second check and ask them to tear up the first one if it should ever arrive or hold it for next month's rent. But if you're really worried about them or somebody else cashing it, put a stop order on it. Yes, the fee might be stiff, but I assume it's less than the amount of the check.

How far away was the mail traveling? I would think something mailed on the 30th would have already gotten there by now, but I suppose it's possible that it simply got hung up. Any chance that you addressed it incorrectly?

[redrhodie]

Thanks, guys. I offered to send my landlords a new check for this month, and then save the other check for next month if/when it arrives, but they said to wait until Monday, so I have until then for it to turn up. I'm hoping it will get there. In the meantime, I'll keep an eye on my account. Not sure if it can get cashed without ID. The stop payment fee is $25, which I'd hate to pay, and then have it turn up.

Maybe mail is slow because it's April.

[NbyNW]

Something to consider for the future would be to set up a monthly EFT for your rent payment. That way you wouldn't have to worry about your check getting lost in the mail.

[channlluv]

I was just thinking about doing something similar through one of my credit cards that offers cash back and let's you put all your monthly bills on the card. It sure would make tracking the bill paying easier.

Roxy