<p>I need to buy something that cost +/- 65 dollars by tomorrow and I am 10 dollars short. What happens if I ask the store to wait for Monday to cash my check (getting my work-study direct deposit on Monday) ? Do people ever ask that ?
If I don’t ask him, what are the chances that if the store owner were to deposit it today, it would be fine ? I suppose a check needs a few days to get processed into the system and stuff anyway right ?</p>
<p>I guess that depends on the store owner. He might be willing to do that ( my husband would ) but he may not let you take the merchandise until the check has cleared. It doesn’t always take a few days for checks to clear , so I would advise against playing the game of " will the funds be there ?"
That could potentially cost you half as much as the price of the item in a bounced check fee.</p>
<p>Most stores now process your check electronically which means it will hit your account quickly. I doubt the store clerk has the option to “cash” your check on Monday.</p>
<p>In the old days, that may have worked. In the aftermath of the logistical problems that came to light in the wake of 9/11, electronic check processing became standard. The check doesn’t actually need to be physically returned makers’ actual bank. The “float” from the past hardly exists, and I wouldn’t count on more than one days’ grace period. Count on overdraft fees (if you signed up for overdraft protection) at best, and returned check fees from merchant, overdraft fees from bank and loss of check writing priveleges at that store as a worst case scenario. Assume the check will go through that evening with the deposit and that it will be processed before opening the following day. At many locations, the check could be electronically scanned and accepted and they just hand back a voided check.</p>
<p>You’ll have way more luck at a smaller privately owned not chain store. Unless you NEED it for this weekend though wait for Monday.</p>
<p>Don’t you have a credit card for emergencies? Or a friend that would loan you $10 til Monday? </p>
<p>I have heard of people putting their checks in a microwave for 10 seconds to make the embedded coding unreadable by the machines and delay processing for a day or two. I have no idea if that actually works or is just an urban legend thing, and it could be very expensive to find out! Not only will your bank charge an overdraft fee but, if they return the check unpaid (which hopefully they wouldn’t, but they might), the merchant could also charge you a hefty fee.</p>
<p>What is the thing that you need to buy?</p>
<p>Can you get $10 a different way? </p>
<p>Pawn something at a pawn shop (will have to buy it back at a higher rate or forfeit the item)</p>
<p>Sell plasma</p>
<p>Earn it somehow (odd job? I had a roommate who paid me money to do stuff she was too lazy to do, like her laundry).</p>
<p>wait until after 4 Pm or as close 5 pm and all business at the bank will be processed monday (even if done electronically i think). as long as you get the money in shortly after lunch on monday, it will clear.</p>
<p>if the store stays open past 6 pm, that would be even better.</p>
<p>Good thing your work study money is by direct deposit becuase if it was a check, you shouldn’t conclude it would necessairly clear fast enough to cover the check you’ve written.</p>
<p>I’m with the rest of the group. Either wait a few days for the purchase or find a way to borrow the ten spot. But don’t risk the extra fees (and ding to your credit rating) that a bounced check would create.</p>
<p>I remember in the early 80’s when we decided to switch an account from regular checking to money market, to get a few bucks more interest. I was told that they were transferring the money on the spot, so no issues in writing checks right away. WRONG. Up shot was bounced checks to pay the credit card company and the mortgage. I was LIVID. I made the bank write a letter to the credtors and the credit rating agencies to correct their massive mistake. As soon as I made them perform, we naturally moved out account to another bank.</p>
<p>Im curious as to what can’t wait a few days or why you can’t borrow or earn $10.</p>
<p>Bouncing a ck will cost a lot more.</p>
<p>" In the old days, that may have worked. In the aftermath of the logistical problems that came to light in the wake of 9/11, electronic check processing became standard "</p>
<p>Not necessarily. A smaller , non chain store wouldn’t use this as a standard , and it sounds like the op might be dealing with the store owner , not a clerk.</p>
<p>OK, that sucks. Thank you all.
It was just some material for a class that I was suppose to buy a long time ago.
I didn’t end up getting it anyway, I’ll just wait for my work-study money and look bad in class. Actually really bad, but pride prevents me from borrowing or having my check bounce.</p>
<p>depending on what the material was (a book? as opposed to a supply, like film for a photography class) you might be able to borrow a classmate’s, or the prof. might have put it on reserve at the library.</p>
<p>Is the college bookstore the kind of place where you could maybe just sit and read what you need?</p>