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Newsgroups: comp.sys.mac.apps
Subject: Re: Homemade checks...?
Message-ID: <1CE00001.qhffxx@tbomb.ice.com>
Date: 9 Feb 91 23:31:46 GMT
Reply-To: time@ice.com
Organization: ICE Engineering, Inc.
Lines: 36
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In article <360@alchemy.UUCP>, hzink@alchemy.UUCP (Harry K. Zink) writes:
> I have heard, though, that these numbers need to be in magnetic ink, which 
> precious few laserwriters handle.  My question now concerns if the check 
> *needs* this magnetic ink in order to be legally useable.  I do not see why it 
> shouldn't be possible to create your own checks, as, from what I understanmd, 
> any document with your signature and the words 'make payable to' is pretty much
> considered a check (this is based on the humorous accounst of people sending 
> the government or utility companies 'checks' made out on their shirts or their 
> underwear - and they get cashed.)
> 
> So, what is the real scoop on this subject?

It is absolutely true that most banks require magnetic ink on the
checks that they process. On the other hand, banks are required to
cash all checks written against their bank.

So what happens, depending on your bank, is that they either charge
you a "procesing fee" for the non-standard check, thus far exceeding
the cost of any pre-made checks, or as in the case of most credit
unions, you sign a form indicating that you will use only valid 
checks with magnetic inking and all other checks are rejected.

You can purchase magnetic ink cartridges for you laserwiter, but once
you consider the costs, its not really worth it.

It only cost me $100 for 500 checks with custom fitting envelopes!
At 2 cents per check and envelope, I found it difficult to justify
doing anything myself (and I got pretty colors :)

tim.

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Tim Endres                |  time@ice.com
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