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Author: jacqueg One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 309168  
Subject: Re: Bounced checks Date: 8/15/2002 12:18 PM
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As a reformed check "bouncer" - I was once into the habit of writing checks 1 day before my paycheck hit the account - then 2 days - then 3... - I can tell you that your 3 bounced checks won't cause a blip anywhere outside your bank.

If you're really worried about this, simply call your bank and ask them how they deal with repeat bouncers - how many checks you must bounce in what period of time in order for them to close your account and/or report you to ChexSystems or someone like them. They'll tell you, and then you'll know, and can stop worrying.

You can avoid this entirely by getting overdraft protection - your bank either loans you the money to cover the bounced check or you have a savings account associated with the checking account.

BTW, should you be foolish (not Foolish) and get into this costly behavior pattern, and your bank closes your account and reports you to ChexSystems, few if any banks will open a checking account for you, you'll have to buy money orders to make payments by mail, and in three years, since you have not bounced any checks, ChexSystems will stop reporting you as a bad person, and you can open a checking account again. Or, if you continue to maintain a savings account at the bank which closed your checking, you can start asking to have your checking privileges reinstated. They just might agree sooner than three years.

I *do not* recommend trying this out for yourself!
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