Paper Checks

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Topic Author
BigRedHusker
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Paper Checks

Post by BigRedHusker »

I'm just wondering how others feel about getting paper checks issued to them thru USPS. I do a QCD from my Vanguard account a few times a year. Checks are payable to the third party I designate and mailed to myself at my address. I always wonder what if the check never shows up in my mailbox to me. I do have something called informed delivery so I see if USPS says it is being delivered. That is good news for me to be expecting it. I just keep wondering how much of a hassle if it gets to wrong address or somehow intercepted on the way? Also if somehow it could be cashed by a fraudulent party.

Any thoughts or personal experience with this?
livesoft
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Re: Paper Checks

Post by livesoft »

I get paid by a check sent in the mail. I've never had a problem. I deposit the check at the nearby ATM, too. I do not live in a seedy neighborhood.
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helloeveryone
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Re: Paper Checks

Post by helloeveryone »

livesoft wrote: Mon May 17, 2021 2:50 pm I get paid by a check sent in the mail. I've never had a problem. I deposit the check at the nearby ATM, too. I do not live in a seedy neighborhood.
No phone app and deposit check by taking picture? we rarely get checks but when we do it's fun not having to drive to bank or atm to deposit.
livesoft
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Re: Paper Checks

Post by livesoft »

helloeveryone wrote: Mon May 17, 2021 2:51 pm
livesoft wrote: Mon May 17, 2021 2:50 pm I get paid by a check sent in the mail. I've never had a problem. I deposit the check at the nearby ATM, too. I do not live in a seedy neighborhood.
No phone app and deposit check by taking picture? we rarely get checks but when we do it's fun not having to drive to bank or atm to deposit.
I'm a Luddite. The ATM is faster right now as in "Spouse, can you please deposit this when you are at the grocery store?" Also as in: It took you less time to type your response than it takes you to deposit a check via the phone app, right?
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gwe67
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Re: Paper Checks

Post by gwe67 »

Bad idea. A hospital refund check was sent to me. I could see in the Informed Delivery image within the clear plastic envelope window the words "pay to the order of..." so it was obvious what it was. Check never arrived. I have a locking mailbox which only USPS employees and I can access. Hospital refused to re-issue check. Talked to post office "manager" who blew it off. I told him that his employees are either incompetent or thieves and he should want to know which type they are. Around the same time, a neighbor's kid was sent a graduation gift card which also never turned up. Don't send anything valuable thru USPS.

** Disclaimer: This was about three years ago, so in fairness, USPS may still be in the process of delivering these items.
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tomd37
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Re: Paper Checks

Post by tomd37 »

BigRedHusker - My ten QCD checks earlier this year got to me just fine from Vanguard. When I forwarded them on to their intended recipients under a cover letter, one of them got inserted into the wrong post office box and ended up being delivered to a home address. Thankfully the cover letter had my name, address, and telephone number and the nice lady called me. I went to her home and picked up the $1,500 check and hand delivered it to the local charity it was intended for. First time in eleven years of QCD checks that one went astray.
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Re: Paper Checks

Post by Broken Man 1999 »

livesoft wrote: Mon May 17, 2021 2:55 pm
helloeveryone wrote: Mon May 17, 2021 2:51 pm
livesoft wrote: Mon May 17, 2021 2:50 pm I get paid by a check sent in the mail. I've never had a problem. I deposit the check at the nearby ATM, too. I do not live in a seedy neighborhood.
No phone app and deposit check by taking picture? we rarely get checks but when we do it's fun not having to drive to bank or atm to deposit.
I'm a Luddite. The ATM is faster right now as in "Spouse, can you please deposit this when you are at the grocery store?" Also as in: It took you less time to type your response than it takes you to deposit a check via the phone app, right?
Definitely easy to deposit the very rare check received in paper format. I just download our credit union app, make the deposit, then remove the app from my phone. A couple of minutes, done.

Our USPS deliveries are back to normal, have been for a few months. Rarely do I not receive the mail listed in my Informed Delivery email. Sometimes a day late, usually as expected.

Broken Man 1999
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gwe67
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Re: Paper Checks

Post by gwe67 »

tomd37 wrote: Mon May 17, 2021 3:05 pm BigRedHusker - My ten QCD checks earlier this year got to me just fine from Vanguard. When I forwarded them on to their intended recipients under a cover letter, one of them got inserted into the wrong post office box and ended up being delivered to a home address. Thankfully the cover letter had my name, address, and telephone number and the nice lady called me. I went to her home and picked up the $1,500 check and hand delivered it to the local charity it was intended for. First time in eleven years of QCD checks that one went astray.
One percent mis-delivery rate is not acceptable. How hard is it to put mail in the correct box?
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Re: Paper Checks

Post by Broken Man 1999 »

gwe67 wrote: Mon May 17, 2021 3:09 pm
tomd37 wrote: Mon May 17, 2021 3:05 pm BigRedHusker - My ten QCD checks earlier this year got to me just fine from Vanguard. When I forwarded them on to their intended recipients under a cover letter, one of them got inserted into the wrong post office box and ended up being delivered to a home address. Thankfully the cover letter had my name, address, and telephone number and the nice lady called me. I went to her home and picked up the $1,500 check and hand delivered it to the local charity it was intended for. First time in eleven years of QCD checks that one went astray.
One percent mis-delivery rate is not acceptable. How hard is it to put mail in the correct box?
Our USPS guy brings my mail to me if I’m outside. Can’t complain about his service.

Broken Man 1999
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sport
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Re: Paper Checks

Post by sport »

BigRedHusker wrote: Mon May 17, 2021 2:47 pm I'm just wondering how others feel about getting paper checks issued to them thru USPS. I do a QCD from my Vanguard account a few times a year. Checks are payable to the third party I designate and mailed to myself at my address. I always wonder what if the check never shows up in my mailbox to me. I do have something called informed delivery so I see if USPS says it is being delivered. That is good news for me to be expecting it. I just keep wondering how much of a hassle if it gets to wrong address or somehow intercepted on the way? Also if somehow it could be cashed by a fraudulent party.

Any thoughts or personal experience with this?
One time, I did not get an acknowledgement for a QCD donation. I called Vanguard and they told me the check had not been cashed. So, they stopped payment on that check and sent me a replacement.
prd1982
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Re: Paper Checks

Post by prd1982 »

BigRedHusker wrote: Mon May 17, 2021 2:47 pm I'm just wondering how others feel about getting paper checks issued to them thru USPS. I do a QCD from my Vanguard account a few times a year. Checks are payable to the third party I designate and mailed to myself at my address. I always wonder what if the check never shows up in my mailbox to me. I do have something called informed delivery so I see if USPS says it is being delivered. That is good news for me to be expecting it. I just keep wondering how much of a hassle if it gets to wrong address or somehow intercepted on the way? Also if somehow it could be cashed by a fraudulent party.

Any thoughts or personal experience with this?
I had three related QCD problems:

A. One year I didn’t get the check from my IRA holder. I called them up and explained the problem. They verified the check was not cashed, canceled it, and sent me a new check. No hassle.

B. Another year I sent a QCD check to the charity but it wasn’t cashed in a reasonable time. I checked with my IRA holder that it had not been cashed. Waited another couple of weeks, and still not cashed. Called the charity and confirmed not received. So had the checked canceled, got another check and mailed to the charity.

C. Sent the QCD check to the charity but no acknowledgment. Called the IRA provider, who confirmed cashed. Called the charity who said they had mailed an acknowledgment. They sent me another one.

So QCDs can be a minor hassle, but well worth it. The key, in my opinion, is to do the QCD by the middle of the year. Gives you plenty of time to handle missing checks or acknowledgments. You shouldn’t wait until the Thanksgiving or later holidays to start the process.
Nebraska_Drought
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Re: Paper Checks

Post by Nebraska_Drought »

I have informed delivery and a locked "cluster box" for my mail which happens to be right outside my driveway. You would be surprised how many items get put into the wrong mail box. You would be surprised how many items show up on my informed delivery never to arrive. I hate that we can't trust the USPS anymore. Unless there is no option, I will not send a check or cash in the mail. My kids have been lucky that b-day cards and graduation cards all have arrived as intended (at least we think). I bet I write less than 50 checks a year anymore, no reason to.
Hyperchicken
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Re: Paper Checks

Post by Hyperchicken »

I regularly get neighbors' mail in my mailbox. Same house number on a nearby street, same street name but house number is off by one digit, etc. I can only guess how much of my mail ends up in someone else's mailbox. That summarizes my thoughts about mailing paper checks.
UpperNwGuy
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Re: Paper Checks

Post by UpperNwGuy »

I live in a high rise apartment building. My mail sometimes gets delivered to other apartments in the building and sometimes to other nearby buildings. I hate it when people send me paper checks through the mail because I'm never sure if they will arrive. These problems started about a year ago after many, many years of excellent service.
Last edited by UpperNwGuy on Mon May 17, 2021 3:23 pm, edited 1 time in total.
prd1982
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Re: Paper Checks

Post by prd1982 »

gwe67 wrote: Mon May 17, 2021 3:09 pm One percent mis-delivery rate is not acceptable. How hard is it to put mail in the correct box?
I sorted mail a couple of summers while in college. It’s harder than you think by the 6th hour of your shift.

The good news is that most people put mis-directed 1st class mail back in their box for re-delivery.
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SquawkIdent
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Re: Paper Checks

Post by SquawkIdent »

I wouldn’t trust the USPS with anything, at this point. The need for them, in general, is quickly disappearing.

And by the service that’s been provided the last 1 1/2 years, do you wonder why? I don’t...
Topic Author
BigRedHusker
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Re: Paper Checks

Post by BigRedHusker »

prd1982 wrote: Mon May 17, 2021 3:15 pm
BigRedHusker wrote: Mon May 17, 2021 2:47 pm I'm just wondering how others feel about getting paper checks issued to them thru USPS. I do a QCD from my Vanguard account a few times a year. Checks are payable to the third party I designate and mailed to myself at my address. I always wonder what if the check never shows up in my mailbox to me. I do have something called informed delivery so I see if USPS says it is being delivered. That is good news for me to be expecting it. I just keep wondering how much of a hassle if it gets to wrong address or somehow intercepted on the way? Also if somehow it could be cashed by a fraudulent party.

Any thoughts or personal experience with this?
I had three related QCD problems:

A. One year I didn’t get the check from my IRA holder. I called them up and explained the problem. They verified the check was not cashed, canceled it, and sent me a new check. No hassle.

B. Another year I sent a QCD check to the charity but it wasn’t cashed in a reasonable time. I checked with my IRA holder that it had not been cashed. Waited another couple of weeks, and still not cashed. Called the charity and confirmed not received. So had the checked canceled, got another check and mailed to the charity.

C. Sent the QCD check to the charity but no acknowledgment. Called the IRA provider, who confirmed cashed. Called the charity who said they had mailed an acknowledgment. They sent me another one.

So QCDs can be a minor hassle, but well worth it. The key, in my opinion, is to do the QCD by the middle of the year. Gives you plenty of time to handle missing checks or acknowledgments. You shouldn’t wait until the Thanksgiving or later holidays to start the process.
livesoft wrote: Mon May 17, 2021 2:50 pm I get paid by a check sent in the mail. I've never had a problem. I deposit the check at the nearby ATM, too. I do not live in a seedy neighborhood.
Thanks for response. It echos many of my concerns. As Vanguard now requires, QCD checks have to be mailed by USPS to account holder. I expect one day it sill not show up
CurlyDave
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Re: Paper Checks

Post by CurlyDave »

The problem can be worse that anyone has stated. 15 years ago my local post office was in Redwood City, CA. When I went to the post office looking for a large amount of mail that had apparently been lost I discovered that for most employees there English was at least their 3rd language, both proficiency and attitude were low. I have since moved to a much more rural location and the both the communication situation and the attitude issue have improved.

For my mailbox, mis-delivery runs about 2-3%.

As far as receiving checks from a brokerage I have linked my bank account and the brokerage so that an ACH transfer is possible both ways. No checks involved.

I deal with a fair number of paper checks because I am a redneck and own rentals, but they are only sent or received through the mail if both addresses are local.

The only serious paper communications we get any longer are from either the IRS or the state tax agency. 2 or 3 times a year I will get a love note from one or the other. Few of those ever go astray.
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prd1982
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Re: Paper Checks

Post by prd1982 »

BigRedHusker wrote: Mon May 17, 2021 3:40 pm Thanks for response. It echos many of my concerns. As Vanguard now requires, QCD checks have to be mailed by USPS to account holder. I expect one day it sill not show up
Not showing up isn't a big deal.

The thing I worry about the most is not getting the acknowledgement letter from the charity. Without it, I cannot treat it as a charitable gift. This would be true even if Vanguard could send the money directly to the charity. Only a DAF avoids this, and it cannot be used with a QCD.
likegarden
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Re: Paper Checks

Post by likegarden »

I am using checks and get / send them via USPS since 1968. I never lost a check.
Ha, but recently :
Recently the USPS got slowed down (no political comment permitted) such that getting a bill from SPECTRUM via USPS long distance took 10 days. I let this bill then sit around for 10 days, and my check took then another 13 days via USPS from NY to Texas to Spectrum to pay them the $150. Spectrum got so alarmed that they called us several times a day for a week. I had to pay another $300. I explained and the Spectrum man stopped their calling, but then it started again. Now I am waiting for the next billing.
It seems that billing via USPS and paying via check with USPS long distance will go away.
helloeveryone
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Re: Paper Checks

Post by helloeveryone »

gwe67 wrote: Mon May 17, 2021 3:01 pm Bad idea. A hospital refund check was sent to me. I could see in the Informed Delivery image within the clear plastic envelope window the words "pay to the order of..." so it was obvious what it was. Check never arrived. I have a locking mailbox which only USPS employees and I can access. Hospital refused to re-issue check. Talked to post office "manager" who blew it off. I told him that his employees are either incompetent or thieves and he should want to know which type they are. Around the same time, a neighbor's kid was sent a graduation gift card which also never turned up. Don't send anything valuable thru USPS.

** Disclaimer: This was about three years ago, so in fairness, USPS may still be in the process of delivering these items.
that's pretty wrong of the hospital to do that. it's just a matter of them calling their bank, cancelling that check after confirming it was not withdrawn, then re-issuing check.
helloeveryone
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Re: Paper Checks

Post by helloeveryone »

gwe67 wrote: Mon May 17, 2021 3:09 pm
tomd37 wrote: Mon May 17, 2021 3:05 pm BigRedHusker - My ten QCD checks earlier this year got to me just fine from Vanguard. When I forwarded them on to their intended recipients under a cover letter, one of them got inserted into the wrong post office box and ended up being delivered to a home address. Thankfully the cover letter had my name, address, and telephone number and the nice lady called me. I went to her home and picked up the $1,500 check and hand delivered it to the local charity it was intended for. First time in eleven years of QCD checks that one went astray.
One percent mis-delivery rate is not acceptable. How hard is it to put mail in the correct box?
human error...though our rate seems to be more then 1%.
in our community of about 80 homes - there are THREE homes on three different streets with same street number. Every few months we walk to each other's house to deliver misplaced mail to each other
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cheese_breath
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Re: Paper Checks

Post by cheese_breath »

gwe67 wrote: Mon May 17, 2021 3:01 pm ... Check never arrived. I have a locking mailbox which only USPS employees and I can access.... Talked to post office "manager" who blew it off.
Don't waste your time with the post office manager. Your Informed Delivery Email has a link near the bottom for reporting missing mail.
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sport
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Re: Paper Checks

Post by sport »

cheese_breath wrote: Mon May 17, 2021 5:09 pm
gwe67 wrote: Mon May 17, 2021 3:01 pm ... Check never arrived. I have a locking mailbox which only USPS employees and I can access.... Talked to post office "manager" who blew it off.
Don't waste your time with the post office manager. Your Informed Delivery Email has a link near the bottom for reporting missing mail.
What happens when you report it?
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cheese_breath
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Re: Paper Checks

Post by cheese_breath »

I don't know, but I reported some and it showed up a few days later. Maybe somebody with more authority than whoever claims to be the local manager on whatever day you come in sees it? Just speculating.
The surest way to know the future is when it becomes the past.
jt90505
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Re: Paper Checks

Post by jt90505 »

2020 Mail volume in US was ~129.2 *Billion* units.
With 99.99% accuracy you are still looking at ~13 *Million* misdelivered pieces of mail per year.
I cannot remember receiving a misdelivered item that required more than walking to either of my next door neighbors.
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Steelersfan
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Re: Paper Checks

Post by Steelersfan »

I mail 10 - 15 check a year for various reasons. That's down from years past. I've never had a lost check.

I live in a multi-unit condo and do occasionally get mail for another unit, and vise-versa. It makes it to the right unit the next day at the latest.
RetiredCSProf
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Re: Paper Checks

Post by RetiredCSProf »

It would be convenient to be able to distribute QCDs electronically rather than by check. This year, I wanted to add a local food bank to my list of QCD recipients, but their website showed donation information via online only. I suppose that some charitable organizations prefer not to deal with paper check deposits. Instead of the local food bank, I mailed a QCD check to a local charity that helps find housing for the homeless.
Normchad
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Re: Paper Checks

Post by Normchad »

I’m happy to accept funds in any form. Mail is fine. Electronic is fine. It’s all fine with me.

When somebody wants to send me money, I let them.

I just don’t worry about fraud. I had a postal fraud perpetrated on me a few years back. The response of my bank, the police, and the postal inspector was immediate and exemplary.
DetroitRick
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Re: Paper Checks

Post by DetroitRick »

Probably not a big deal if that's convenient for you. Especially because it is likely not a time-sensitive situation. Lost checks, inbound or outbound, can be replaced.

But we've found it best for us to eliminate paper checks and the whole mailing process, and we did it pre-pandemic. We've had checks lost in the mail fairly recently, and delivery times here are abysmal right now anyway. We write (and mail) around 2 checks per year, receive 1 or 2 via mail at most. We cut off everything we possibly could. Zero doubt in my mind that it's quicker, more convenient and safer this way. And theft from mailboxes is not related to neighborhood safety - it happens. Anyway, huge fan of electronic payments and receipts here.
Topic Author
BigRedHusker
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Re: Paper Checks

Post by BigRedHusker »

tomd37 wrote: Mon May 17, 2021 3:05 pm BigRedHusker - My ten QCD checks earlier this year got to me just fine from Vanguard. When I forwarded them on to their intended recipients under a cover letter, one of them got inserted into the wrong post office box and ended up being delivered to a home address. Thankfully the cover letter had my name, address, and telephone number and the nice lady called me. I went to her home and picked up the $1,500 check and hand delivered it to the local charity it was intended for. First time in eleven years of QCD checks that one went astray.
Good to hear that you have not had much trouble thru your 11 years.
Mozart01
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Re: Paper Checks

Post by Mozart01 »

Presently I make monthly QCD through Vanguard. I am trusting the USPS less and less. Checks arrive anywhere from 4-5 days to greater than 3 weeks(and Counting). I also have informed delivery and have had occasion where site site said check would be delivered today only to have check turn up a week late. I believe check made out to charity and mailed c/o me may be more than my local post office can deal with. My having to mail it to charity only doubles the chance of lost or thief through USPS. Is there a way QCD can be made directly from retirement account at Vanguard to charity avoiding USPS entirely?
sport
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Re: Paper Checks

Post by sport »

Mozart01 wrote: Mon May 29, 2023 8:57 am I believe check made out to charity and mailed c/o me may be more than my local post office can deal with.
It would have your name and address on it. Why would this be a problem?
tunafish
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Re: Paper Checks

Post by tunafish »

gwe67 wrote: Mon May 17, 2021 3:01 pm Bad idea. A hospital refund check was sent to me. I could see in the Informed Delivery image within the clear plastic envelope window the words "pay to the order of..." so it was obvious what it was. Check never arrived. I have a locking mailbox which only USPS employees and I can access. Hospital refused to re-issue check. Talked to post office "manager" who blew it off. I told him that his employees are either incompetent or thieves and he should want to know which type they are. Around the same time, a neighbor's kid was sent a graduation gift card which also never turned up. Don't send anything valuable thru USPS.

** Disclaimer: This was about three years ago, so in fairness, USPS may still be in the process of delivering these items.
The only time something didn't show up that had been in informed delivery I used the link there to report it and they found and delivered it in 2-3 days. I love the USPS, I wish I could get everything delivered by them.
BigJohn
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Re: Paper Checks

Post by BigJohn »

Not quite QCD eligible yet but anything I can do to eliminate the USPS is a step in the right direction. So, my plan is to initiate check writing on my IRA, write the check myself and hand deliver them to my local charities.
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Re: Paper Checks

Post by oldcomputerguy »

This topic is now in the Personal Finance (Not Investing) forum.
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fourwheelcycle
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Re: Paper Checks

Post by fourwheelcycle »

BigRedHusker wrote: Mon May 17, 2021 2:47 pm ... I always wonder what if the check never shows up in my mailbox to me.

Any thoughts or personal experience with this?
My wife and I do twelve Vanguard QCD checks each year. I just had my first Vanguard QCD check fail to show up. After three weeks I called Vanguard. They insisted they mailed it, but said they would stop payment and reissue the check. The reissued check arrived a week later. The original check never arrived. We have never had a check we mailed on to our charities fail to arrive; they have always sent us thanks and receipts.
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heartwood
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Re: Paper Checks

Post by heartwood »

tunafish wrote: Mon May 29, 2023 10:08 am
gwe67 wrote: Mon May 17, 2021 3:01 pm Bad idea. A hospital refund check was sent to me. I could see in the Informed Delivery image within the clear plastic envelope window the words "pay to the order of..." so it was obvious what it was. Check never arrived. I have a locking mailbox which only USPS employees and I can access. Hospital refused to re-issue check. Talked to post office "manager" who blew it off. I told him that his employees are either incompetent or thieves and he should want to know which type they are. Around the same time, a neighbor's kid was sent a graduation gift card which also never turned up. Don't send anything valuable thru USPS.

** Disclaimer: This was about three years ago, so in fairness, USPS may still be in the process of delivering these items.
The only time something didn't show up that had been in informed delivery I used the link there to report it and they found and delivered it in 2-3 days. I love the USPS, I wish I could get everything delivered by them.
Perhaps you assume that they "found and delivered it". I've reported more than 2 or 3 items shown on informed delivery that I did not receive. No follow-up, never arrived, ever. I eventually contacted the sender for replacements.

I think Informed Delivery is useful, but my experience is that there's no follow-up for a reported missing item.

I'd suggest you consider that the item that was "found" may have been in someone's else' mail box and they put it back in the USPS box rather than discarding it.

USPS was once world class; sadly my experience no longer reflects that.
Last edited by heartwood on Mon May 29, 2023 7:00 pm, edited 1 time in total.
liquidassets
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Re: Paper Checks

Post by liquidassets »

gwe67 wrote: Mon May 17, 2021 3:01 pm I have a locking mailbox which only USPS employees and I can access.
Are you sure about that? Mailbox keys aren’t very unique, and are usually trivial to pick with a cheap lock pick set, or a pin.

Still, misdelivery is more likely.
secondcor521
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Re: Paper Checks

Post by secondcor521 »

BigRedHusker wrote: Mon May 17, 2021 2:47 pm I'm just wondering how others feel about getting paper checks issued to them thru USPS. I do a QCD from my Vanguard account a few times a year. Checks are payable to the third party I designate and mailed to myself at my address. I always wonder what if the check never shows up in my mailbox to me. I do have something called informed delivery so I see if USPS says it is being delivered. That is good news for me to be expecting it. I just keep wondering how much of a hassle if it gets to wrong address or somehow intercepted on the way? Also if somehow it could be cashed by a fraudulent party.

Any thoughts or personal experience with this?
I mailed a check across the country via USPS a few weeks ago and it hadn't arrived as of a day or two ago so I mailed a replacement check today and will call the bank tomorrow to put a stop payment on the lost one. Not a Vanguard QCD check, though. First piece of lost mail in a very long time that I know of for me.

If it gets to a wrong address, most of the time the person is honest and will drop it back in the system. I have a neighbor a few doors down whose address is one digit off mine and we walk mail to each other as needed.

If the check isn't made out to someone, then them cashing the check is a pretty serious issue of bank fraud and maybe mail fraud as well. Seems like it would be easy to track down, as it would have their handwriting on the back in the endorsement, be deposited into their bank account, and if you could get the check back their DNA and fingerprints would probably be on it. Only a fool would try.
Mozart01
Posts: 31
Joined: Fri Jan 17, 2014 12:48 pm

Re: Paper Checks

Post by Mozart01 »

My bad. I should have never mentioned USPS. It is what it is and I love them like everybody else(May god bless them). My problem is with Vanguard. I think I should be able to go into my IRA online and send a payment to a charity directly to the charity and the charity would have the funds in the standard 3-5 business days. The present Vanguard system using USPS: I sell stock. Vanguard sends me a paper check. I send it to charity. This can take 3-5 weeks or longer(if it gets lost somewhere along the process). Where does that money sit? How much does Vanguard make while it sits?(probably not much on my small individual donation, but multiply it by thousands of charity minded old people). This seems like a money making deal for Vanguard and how can I avoid it? How does this question fall under personal finance and not investing? Neither I or the charity have use of my funds while Vanguard sits on them. Thanks for the responses.
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beyou
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Re: Paper Checks

Post by beyou »

livesoft wrote: Mon May 17, 2021 2:55 pm
helloeveryone wrote: Mon May 17, 2021 2:51 pm
livesoft wrote: Mon May 17, 2021 2:50 pm I get paid by a check sent in the mail. I've never had a problem. I deposit the check at the nearby ATM, too. I do not live in a seedy neighborhood.
No phone app and deposit check by taking picture? we rarely get checks but when we do it's fun not having to drive to bank or atm to deposit.
I'm a Luddite. The ATM is faster right now as in "Spouse, can you please deposit this when you are at the grocery store?" Also as in: It took you less time to type your response than it takes you to deposit a check via the phone app, right?
I order my groceries online, and deposit checks by app.
Faith20879
Posts: 1243
Joined: Fri Mar 02, 2007 9:16 am

Re: Paper Checks

Post by Faith20879 »

Mozart01 wrote: Mon May 29, 2023 11:01 pm ... My problem is with Vanguard. I think I should be able to go into my IRA online and send a payment to a charity directly to the charity and the charity would have the funds in the standard 3-5 business days. The present Vanguard system using USPS: I sell stock. Vanguard sends me a paper check. I send it to charity. This can take 3-5 weeks or longer(if it gets lost somewhere along the process). ...
I so totally agree with you. For a Fidelity DAF, I can initiate a grant via EFT to a charity if it is linked (most of my are :thumbsup ); the Vanguard DAF does not offer such convenience, meaning everything goes via USPS.

But for QCDs, even though IRS permits EFT https://www.irs.gov/newsroom/reminder-t ... tronically, both brokerage houses choose to depend on paper checks only.

Y2022 was our first year using a Vanguard DAF. Out of 12 checks, three went missing and had to be re-issued. One, according to the charity, was never received; one was sent to the charity's corporate office (not the send-fund-to address, Vanguard doesn't allow me to override) and could not be retrieved; one was accidentally tossed away because the staff handling the mails was not familiar with the DAF cover letter and thought it was solicitation. 2023 We switched to Fidelity DAF and were pleasantly surprised to see most of our charities are on their EFT enabled list. That sure eased some of our angst. Can't imagine how it will go when our QCD starts next year. GROAN!
tlveik
Posts: 53
Joined: Sun Jan 16, 2022 9:18 pm

Re: Paper Checks

Post by tlveik »

sport wrote: Mon May 17, 2021 5:13 pm
cheese_breath wrote: Mon May 17, 2021 5:09 pm
gwe67 wrote: Mon May 17, 2021 3:01 pm ... Check never arrived. I have a locking mailbox which only USPS employees and I can access.... Talked to post office "manager" who blew it off.
Don't waste your time with the post office manager. Your Informed Delivery Email has a link near the bottom for reporting missing mail.
What happens when you report it?
I looked into this recently because I had a piece of missing mail. They don't do anything other than add your report to their statistics. I looked again now for that statement so I could post a link, but of course I can't find it now.
BigJohn
Posts: 2627
Joined: Wed Apr 02, 2014 11:27 pm

Re: Paper Checks

Post by BigJohn »

Mozart01 wrote: Mon May 29, 2023 11:01 pm My bad. I should have never mentioned USPS. It is what it is and I love them like everybody else(May god bless them). My problem is with Vanguard. I think I should be able to go into my IRA online and send a payment to a charity directly to the charity and the charity would have the funds in the standard 3-5 business days. The present Vanguard system using USPS: I sell stock. Vanguard sends me a paper check. I send it to charity. This can take 3-5 weeks or longer(if it gets lost somewhere along the process). Where does that money sit? How much does Vanguard make while it sits?(probably not much on my small individual donation, but multiply it by thousands of charity minded old people). This seems like a money making deal for Vanguard and how can I avoid it? How does this question fall under personal finance and not investing? Neither I or the charity have use of my funds while Vanguard sits on them. Thanks for the responses.
Not sure any QCD has a direct debit feature but maybe someone can answer for Fidelity and Schwab. In any case, why not initiate check writing on your IRA and send/deliver it yourself? It’s not direct deposit but it will eliminate steps and uncertainty.
"The greatest enemy of a good plan is the dream of a perfect plan" - Carl Von Clausewitz
Invest4lt
Posts: 328
Joined: Sat Jul 15, 2017 12:25 pm

Re: Paper Checks

Post by Invest4lt »

secondcor521 wrote: Mon May 29, 2023 10:50 pm
If the check isn't made out to someone, then them cashing the check is a pretty serious issue of bank fraud and maybe mail fraud as well. Seems like it would be easy to track down, as it would have their handwriting on the back in the endorsement, be deposited into their bank account, and if you could get the check back their DNA and fingerprints would probably be on it. Only a fool would try.
DNA analysis from a check? Never would happen in my neck of the woods. Don't disagree with your assessment of bank/mail fraud, but I am not aware of any jurisdiction that would employ that level of technology for the average fraud case. Same with fingerprints. A paper check is handled by a variety of people so this isn't as easy as it sounds. TV crime shows paint a picture that is totally different than most of our realities. An acquaintance of mine was the victim of a fraud (about $10,000) and the police flat out stated they were too busy and understaffed to pursue.

I avoid paper as much as possible. When paper is the only option, I go with it but always wonder "what if...". YMMV
"People sometimes fail to live because they are always preparing to live." - Alan Watts
secondcor521
Posts: 1604
Joined: Wed Sep 10, 2014 4:11 pm

Re: Paper Checks

Post by secondcor521 »

Invest4lt wrote: Tue May 30, 2023 11:51 pm
secondcor521 wrote: Mon May 29, 2023 10:50 pm
If the check isn't made out to someone, then them cashing the check is a pretty serious issue of bank fraud and maybe mail fraud as well. Seems like it would be easy to track down, as it would have their handwriting on the back in the endorsement, be deposited into their bank account, and if you could get the check back their DNA and fingerprints would probably be on it. Only a fool would try.
DNA analysis from a check? Never would happen in my neck of the woods. Don't disagree with your assessment of bank/mail fraud, but I am not aware of any jurisdiction that would employ that level of technology for the average fraud case. Same with fingerprints. A paper check is handled by a variety of people so this isn't as easy as it sounds. TV crime shows paint a picture that is totally different than most of our realities. An acquaintance of mine was the victim of a fraud (about $10,000) and the police flat out stated they were too busy and understaffed to pursue.

I avoid paper as much as possible. When paper is the only option, I go with it but always wonder "what if...". YMMV
Yeah, those comments of mine weren't very practical. I think the most likely option would be that you could work with the bank and sign a fraud affidavit and hopefully either get a credit from the bank or get the money pulled back from whatever account it went into. I'd think the bank could figure out where the money went, especially if it were a larger amount.
bikesandbeers
Posts: 425
Joined: Thu Jun 13, 2019 2:08 am

Re: Paper Checks

Post by bikesandbeers »

My previous company would send out somewhere between one to four thousand checks per month, plain old USPS in a window envelop that looked like a check. Maybe 10 a month would go missing (under 1%). We'd put a flag on those and reissue 60 days after the sent date.
kojima
Posts: 267
Joined: Fri Feb 10, 2023 2:06 pm

Re: Paper Checks

Post by kojima »

I had a CD with a major US bank and once it matured, since I did not have a checking account with them, I had to cash out the CD with a check.

The check did not arrive for over a month but after 2 weeks, I called the bank to see what my options were. It was a headache and I eventually got a hold of someone who sent in a request to stop the check and to mail me a new one. Well when the original check arrived 2 weeks later (I could tell it was mailed 4 weeks ago), I was able to cash it and I never heard from that bank again so I assume they never stopped it and mailed me a new one.
Nowizard
Posts: 4842
Joined: Tue Oct 23, 2007 5:33 pm

Re: Paper Checks

Post by Nowizard »

Same as Livesoft in sense of receiving and depositing checks at local ATM, usually when withdrawing small amounts of cash I always carry. We also regularly mail checks to pay bills. After a bank account hack and the issues related to changing the account and informing those with whom we had automatic withdrawals, we went back to checks for primary bill payment. No problems over many years, though there have been two instances where checks disappeared into the cosmos without fraudulent outcomes.

Tim
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