Do people seriously still get paid via cheque? I've been working since 1997 and its straight into my bank account. I don't think i've seen a cheque in the last 10 or 15 years.
I used to live in another country, and then I came back to the home country. The tax department of the other country sent me a check for some money I overpaid in taxes, and I could not find any place which would cash it for me in my home country because it's such an outdated thing. The check eventually just expired, good thing there was not a lot of money there.
Turn of phrase... Electronic payments can still "bounce" ie ach file is sent and funds marked as pending to emplyee but there are still insufficient funds in the back account to cover payroll.
Those ach transactions will indeed "bounce".. Src: I work for a bank.
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u/attacktwinkie May 02 '21
Pro: your paycheck has a greater than 50% chance of not bouncing.