Pegasus Posted July 20, 2012 Share Posted July 20, 2012 would you make the extra effort needed to take them to the bank? :confused: Sold some silver coins that my late father wanted to benefit his grandchildren and sent a $500 check for each of my nieces to their mother. I carefully managed my checking balance for over a year (never knowing when the checks would go through). She finally called and said the bank refused to accept the old checks and she wants me to send new ones. :tongue_smilie: Quote Link to comment Share on other sites More sharing options...
swellmomma Posted July 20, 2012 Share Posted July 20, 2012 I would. In this case I would like to believe she misplaced them initially and never told you hoping to find them, once she finally did she tried to deposit them likely hoping to never admit her mistake. Quote Link to comment Share on other sites More sharing options...
dangermom Posted July 20, 2012 Share Posted July 20, 2012 :iagree: That's happened to me! Well not with $500, I would have run that down to the bank and banged the door down. But I've done it with $30 checks. :) Quote Link to comment Share on other sites More sharing options...
Scuff Posted July 20, 2012 Share Posted July 20, 2012 Were they close to your father? DH's grandma passed and left us with a little money. DH would probably still have the check if his aunt hadn't gotten on him about cashing it. The emotions attached to it made it more than just any old check. Quote Link to comment Share on other sites More sharing options...
Carrie75 Posted July 20, 2012 Share Posted July 20, 2012 I've done that with checks before, sadly. Quote Link to comment Share on other sites More sharing options...
Dmmetler Posted July 20, 2012 Share Posted July 20, 2012 Not a $500 check, but when I left being a regular employee of the University, they contacted me that I had not one, but THREE outstanding checks that they'd paid me that had never cleared, and would I like them to send me a new one, or to donate that money to the general fund. In all cases, they were reimbursements for purchases I'd made for my classes, and I strongly suspect they sat in my on-campus mailbox, which I tended to forget to check because it was in a different building than my classroom and only collected junk, until they were thrown away by the custodial staff at the end of the semester. Quote Link to comment Share on other sites More sharing options...
Pegasus Posted July 21, 2012 Author Share Posted July 21, 2012 Were they close to your father? DH's grandma passed and left us with a little money. DH would probably still have the check if his aunt hadn't gotten on him about cashing it. The emotions attached to it made it more than just any old check. One of the nieces was pretty close to my father but the check was from ME. I could understand if it was something directly from my father. By the way, I also made sure that each grandchild also got a few of the coins as keepsakes. I would. In this case I would like to believe she misplaced them initially and never told you hoping to find them, once she finally did she tried to deposit them likely hoping to never admit her mistake. Hmmm. . .except that she couldn't hide it from me since the money would be disappearing from my account. Oh well. DH has suggested that instead of sending checks this time, that I purchase money orders and mail it with return receipt requested. Do M.O.'s expire? Quote Link to comment Share on other sites More sharing options...
swellmomma Posted July 21, 2012 Share Posted July 21, 2012 One of the nieces was pretty close to my father but the check was from ME. I could understand if it was something directly from my father. By the way, I also made sure that each grandchild also got a few of the coins as keepsakes. Hmmm. . .except that she couldn't hide it from me since the money would be disappearing from my account. Oh well. DH has suggested that instead of sending checks this time, that I purchase money orders and mail it with return receipt requested. Do M.O.'s expire? Could you put the money into a seperate trust type account for your nieces? They can access it at anytime but then you are not waiting for a cheque to clear or anything? Not sure if mo's expire. I don't think so since they are more like cash than a cheque is Quote Link to comment Share on other sites More sharing options...
Denisemomof4 Posted July 21, 2012 Share Posted July 21, 2012 Of course!!! Quote Link to comment Share on other sites More sharing options...
Carrie12345 Posted July 21, 2012 Share Posted July 21, 2012 Yes, money orders expire! Well, they lose value, at least. I found out the hard way. :glare: Quote Link to comment Share on other sites More sharing options...
tex-mex Posted July 21, 2012 Share Posted July 21, 2012 Why not just purchase a US Savings Bond for each of the children? Get the SSN of each child and their home address. Go to your local bank and make the bond purchase. You do nothing -- let the govt ship the US Bond via mail in the name of the child. Let it mature and they can use it for college. They are U.S. Treasury securities backed by the U.S. Government. Individual Bonds even protect you from the effects of severe deflation—the earnings rate can't go below zero and the redemption value of your Bonds can't decline. Quote Link to comment Share on other sites More sharing options...
Mrs Mungo Posted July 21, 2012 Share Posted July 21, 2012 Why not buy a $500 savings bond? http://www.treasurydirect.gov/forms/mar0023.pdf Quote Link to comment Share on other sites More sharing options...
Pegasus Posted July 21, 2012 Author Share Posted July 21, 2012 Thanks for the ideas! I didn't think of savings bonds. That might be just the thing. Quote Link to comment Share on other sites More sharing options...
kricau Posted July 22, 2012 Share Posted July 22, 2012 Yes, I agree. Due to the mothers obvious lack of interest in the money for her kids ??? I would invest it for them. Saving bonds are good. So are 529 college plans. That is really nice of you to do , by the way :) Especially the part about sending them each a coin to remember him by. I hope that they got those? Quote Link to comment Share on other sites More sharing options...
jenn- Posted July 22, 2012 Share Posted July 22, 2012 Not knowing the family dynamics, I would have her send the original checks back before cutting a new check. Last thing you need is her to find them again in another couple of months and finding a teller that doesn't look as closely at the date. Obviously the mom was at a point she was going to cash the check, so maybe she had a reason for the money (school supplies, new clothing, camp fees, etc). Sending her something they couldn't spend right away could be a problem for their finances. Quote Link to comment Share on other sites More sharing options...
kalliemorgan Posted July 22, 2012 Share Posted July 22, 2012 Were they close to your father? DH's grandma passed and left us with a little money. DH would probably still have the check if his aunt hadn't gotten on him about cashing it. The emotions attached to it made it more than just any old check. :iagree: We had an allotment of money after my grandfather passed away. When we did spend it, it was never on frivolous things (most of us saved ours to go toward a down payment on our first home). It always felt a bit like blood money, for a lack of a better analogy. We loved our grandpa dearly. Quote Link to comment Share on other sites More sharing options...
Sara in AZ Posted July 22, 2012 Share Posted July 22, 2012 I set important things like that aside all the time so I won't lose it, and then forget about it. It takes me months to get to the bank whenever I am paid by check. Last month I cleaned out a shelf in the kitchen where I stash things...... There was about $150 of birthday/Christmas money various family members had received in cards, luckily all cash. Quote Link to comment Share on other sites More sharing options...
Tap Posted July 22, 2012 Share Posted July 22, 2012 1. I am assuming that you have verified that the checks were not cashed. 2. I would ask her to return the checks to you. If she doesn't have them, I would find out how much the fee is to cancel the checks (and do so), deduct that amount and send a money order instead. I would send it via mail, requiring a signature to receive the letter. That way you are out of the situation for good. Quote Link to comment Share on other sites More sharing options...
Night Elf Posted July 22, 2012 Share Posted July 22, 2012 What are the rules for savings bonds? Don't you have to hold onto them to use them? Would this woman be capable of holding onto them for years? She doesn't sound very trustworthy. Since she was trying to cash the checks now, she would probably be ready to cash them when new checks arrive. I'd even send a note and tell her that you'll be watching your bank so you can see if they arrive safely. She might have had something in mind for the money and the savings bonds won't help. It just seems like a rotten thing to do to send her checks first and then change the method of money as a punishment for not cashing the checks when you first sent them. Quote Link to comment Share on other sites More sharing options...
ednkirstin Posted July 22, 2012 Share Posted July 22, 2012 I would. In this case I would like to believe she misplaced them initially and never told you hoping to find them, once she finally did she tried to deposit them likely hoping to never admit her mistake. :iagree: More than likely, she'll cash them much faster this time. :) Quote Link to comment Share on other sites More sharing options...
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