Would you cash a check for one cent?

[JerryK]

I'd cash a check for a penny, I also pick them up if/when I see them on the ground. It's not so much the effort you have to put into cashing that small of a check, it also is something about putting that penny in your pocket and out of someone else's. Enough pennies, and someday I might be able to procure a fourth tractor...

 

[Industrial Toys]

Or the germs might do you in.

 

[ultrarunner]

The overpayment refund must vary depending on company policy...

I knew I would be working overseas for 90 days and sent both of my credit card companies each a $1000 overpayment... it was right after college so what did I know?

One company retained it and used it to offset charges. The other one promptly sent a refund and when I got home had late notices, penalties and interest... also, the card stopped working the last 30 days... I argued how could I miss a payment when I sent you the money??? In the end it was all reversed but what a run around? After all they had cashed my check and then sent me a company refund check for the overpaid amount.

At the cabin my month electric is about $8 off season... my solution was to send in a $100 with a note... been doing that off season for 25 years.

 

[Oaktree]

^^^^
I was thinking about that this morning. How many people go to their state website to see if they have any unclaimed property?
(some snippage)
What I couldn't understand is that not only did it have his name; but also his address. Why didn't his employer just mail it to him?

I did once, maybe 10 years ago, and much to my surprise I had ~$2500 there!! I forget the details, but I think it had something to do with an employee stock plan for a company I'd worked for years earlier. Wasn't even aware that I had any such stock (or if I once knew, had forgotten all about it). Nice little windfall.

Not sure why they didn't just send it to your nephew. Maybe there's some law regarding "abandoned" property where after a certain length of time the owner needs to submit a claim?

 

[two_bit_score]

Most of the checks that wind up escheated to the state were mailed out to the payee and for multiple reasons never cashed. People forget, lose them, have an unresolved dispute about the amount and then give up. The check never gets deposited and finally gets escheated.

There are actually people who make a hobby out of notifying people about unclaimed funds. They look up people who have money to claim and then try to track them down to let them know. The people doing it as a hobby don’t ask for anything, they just do it for the challenge and maybe a thanks. Some are trying to take a cut. Don’t use them it’s very easy to get your money from the unclaimed property fund in Texas anyway.


TBS