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ACE Cash Express, Inc. (AACE) Message Board

  • charles40 charles40 Jun 7, 2005 8:39 AM Flag

    garp=how it works

    first of all-----90% of the checks
    written/left-----never go to the bank
    to begin with------so thats why they
    can crow 90% are good. -----the last thing'
    these folks want is for their check
    to go to the bank. ----take a typical
    200 dollar note-----well, the check may
    never go to the bank --as they come in and
    pay it off for day----then turn right
    around and take it back out the next day.
    -----------the average store only sends
    say 6/9 checks to the bank daily.----if
    a shock comes----and they are caught holding
    14 days x 30 checks or 420 checks to the
    bank in short order----that would be about
    5 x the number of checks sent to the bank
    in the current model. ----or 500%
    and those check writers ain't gonna pay
    off-0if they get whiff that they can not
    get it back in day or so.
    --------as nsf debts dates
    a bad check is live until the bank tells
    you its not------they all have diff policies
    some--------never go stale, some its a year
    and some its 180 days.