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Oct. 31, 2004 With a couple days before payday for most, it seems like the business of writing cheques is about to take a leap into the future. While before it took a mere three to four days before a bank would clear a cheque, now with this new and faster technology of the 'check 21' better known as 'The Cheque Clearing For The 21st Century Act' program, it could now take a couple of hours before a cheque clears. Before the 'Act' which went in to effect last Thursday, many people were able to write cheques a couple days before payday came around, relying on the comfort of knowing by the time their bank cleared their cheques, the money would have already been deposited into their accounts. Now, these same people have to concern themselves with having money in the bank before that cheque is written and sent to the financial institution, which may seem like a rather stressful situation for most. For depending on where you work, not everyone may get paid twice a month, or weekly, some folks, especially if they are into hard, manual labour workforce, may get paycheque once a month, and let's not forget the many who are on a pension or social security programme, leaving them with a much longer time between paycheques to try and cope with. Now while the fast form of cheque clearance may be a convenience for some, the people who get paid once a month may have a another reason to become stressed. For it is difficult to stretch a cheque out longer than say thirty something days. The only relief will be is if the amount on the cheque happens to be a large enough sum to carry the recepient through the period, if not, then he/she will truly have to adhere to a tight budget, especially if one is to avoid those bounced cheque fees and such, so just be careful and even verify with your local bank if you need to, that there is money in your account before you write that all important cheque, for at the end of the day, you do not need another stress inducer. ------------ About the author Judy Ramsook: My first book titled: "Karen's Adventure" which is about two young girls who go in search of their missing parents, is now available. I was born and raised in Trinidad & Tobago, then in the mid eighties I came to the US where I attended San Antonio College and The University Of Texas At San Antonio. Visit: www.publishedauthors.net/g2rdy Email: j2rdy@hotmail.com Tell a friend about this site! ------------ All articles are EXCLUSIVE to Useless-Knowledge.com and are not allowed to be posted on other websites. ARTICLE THIEVES WILL BE PROSECUTED! |
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