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Getting paid salary by cheque

ldy4mxonucwsq6

Just discovered my new employer pays all staff by cheque.

I've worked in many places over the past 25 years and never once been paid by cheque, always EFT.

Means I now have to find time to get to the bank every week to lodge a cheque and then wait for it to clear.

How in this day and age is this a thing? Worried that this is just the tip of the iceberg now. Surely it's more expensive and hassle to use cheques for such regular payments?

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mikemac2

Is it a well established business? Have you any reason to suspect it might go bust one week?

Well I guess you never know and that can happen the largest corporation. Just wondering

ldy4mxonucwsq6

mikemac2 wrote: »

Is it a well established business? Have you any reason to suspect it might go bust one week?

Well I guess you never know and that can happen the largest corporation. Just wondering

It's a smallish business but in business a long time, 30+ years.

Mini850

Isn't there a rule that if you get paid by check, your employer should give you an hour or half hour during work time to lodge it?

Could be talking out of my bum, but I did work in one job about 12 years ago that paid us by check and we took an extra half hour for our lunch each month to go lodge the check.

That could have been company policy, but I remember being told that it was law.

oLoonatic

how did you find driving in the delorean back to the 1950s???

I would ask if you could take time to go lodge it or ask for bank transfer. Thats the strangest thing i've ever heard. would certainly ring alarm bells with me.

L1011

Most banks have lodgement ATMs that can scan cheques, doesn't increase the processing speed however. Being paid weekly is also quite archaic.

I'd be concerned they aren't going to be providing up to date data to Revenue under the PAYE Modernisation requirements if every other bit of payroll is this antique.

Fieldsman

Mini850 Think it should be spelled CHEQUE

OMM 0000

I pay my staff by cheque.

Our company's online banking is crap, and they charge EUR 20 for each transaction.

So cheque it is...

We're a software company.

seamus

Armando Plain Meatloaf wrote: »

How in this day and age is this a thing? Worried that this is just the tip of the iceberg now. Surely it's more expensive and hassle to use cheques for such regular payments?

Some companies may not have an appropriate business account, or their bank's software might be crap that doesn't allow them to upload bulk payments.

Or they may not have payroll software that allows them to generate a bulk payment file.

Or their payroll person might have been doing this for 30 years and simply does not have a clue how to do anything but write/print cheques.

It probably is the tip of the iceberg; you'll find the company doing lots of things in a very inefficient and outdated manner. Which gives you a lot of scope to make a big impact.

I don't believe there is a legal requirement to allow time to get to a bank to lodge the cheques. That was a civil service thing.

heroics

OMM 0000 wrote: »

I pay my staff by cheque.

Our company's online banking is crap, and they charge EUR 20 for each transaction.

So cheque it is...

We're a software company.

:eek:

Seriously a software company? I haven't been paid by cheque since the 90s and that was a part time job.

If I moved jobs and the employer told me they were paying by cheque I think I'd actually laugh. (IT industry as well)

Mini850

Fieldsman wrote: »

Mini850 Think it should be spelled CHEQUE

You think???

Can you get confirmation?

I wont sleep :rolleyes:

OMM 0000

heroics wrote: »

:eek:

Seriously a software company? I haven't been paid by cheque since the 90s and that was a part time job.

If I moved jobs and the employer told me they were paying by cheque I think I'd actually laugh. (IT industry as well)

Our staff can work from home as much as they want, we have no set hours, and we have unlimited holidays.

We are a cutting edge software company (machine learning) owned by a billionaire...

Seems strange, I guess...

dotsman

OMM 0000 wrote: »

I pay my staff by cheque.

Our company's online banking is crap, and they charge EUR 20 for each transaction.

So cheque it is...

We're a software company.

And, yet, you continue to bank with them?

Del2005

dotsman wrote: »

And, yet, you continue to bank with them?

Very few people switch accounts, or utilities provider, it's why banks give loads of free stuff to students. If people don't switch to save themselves money why would you assume that people running businesses switch?

pjdarcy

OMM 0000 wrote: »

Our staff can work from home as much as they want, we have no set hours, and we have unlimited holidays.

We are a cutting edge software company (machine learning) owned by a billionaire...

Seems strange, I guess...

Could the billionaire not cover the cost of the 20 euro per transaction?

Hoboo

OMM 0000 wrote: »

Our staff can work from home as much as they want, we have no set hours, and we have unlimited holidays.

We are a cutting edge software company (machine learning) owned by a billionaire...

Seems strange, I guess...

€20 transaction charge per person seems strange, who's that with?

Or is it €20 for the total payroll?

nuckeythompson

Had something similar in a company I used to manage, the real reason for this was CASH FLOW !!
All employees were given time to go to the bank to lodge/arrangements etc.

We did have months where the cheque was a day late, or delivered not in time to go to the bank on the same day.

NSAman

Cheque/Check its all money.

If you don’t want it send it my way.

I know I am in another country, but most staff here are paid by check. American Banks are archaic...

OMM 0000

dotsman wrote: »

And, yet, you continue to bank with them?

It's the same bank our owner uses. He has a relationship with them.

pinkypinky

If your salary is a fixed amount per month, you could ask for a standing order instead. I did this when I went to work for a small company some years ago and they agreed.

Also the bank should clear the cheque quicker if you indicate it's a salary cheque - you may need to get the company to provide a letter on headed paper or something.

OMM 0000

pjdarcy wrote: »

Could the billionaire not cover the cost of the 20 euro per transaction?

May seem hard to believe, but these rich dudes are the toughest when it comes to small expenses like this.

OMM 0000

Hoboo wrote: »

€20 transaction charge per person seems strange, who's that with?

Or is it €20 for the total payroll?

Japanese bank.

EUR 20 each.

daheff

OMM 0000 wrote: »

I pay my staff by cheque.

Our company's online banking is crap, and they charge EUR 20 for each transaction.

So cheque it is...

We're a software company.

you need a new bank.

also i'd suggest you get somebody in who knows what they are doing bankwise as it looks like your person doing it is trying to make payments as a wire rather than a SEPA transfer (assuming its EUR -otherwise ACH).

daheff

NSAman wrote: »

Cheque/Check its all money.

If you don’t want it send it my way.

I know I am in another country, but most staff here are paid by check. American Banks are archaic...

maybe, but they are more automated in the processing of checks that Europeans are.

Checks in US can clear in a day or two. takes about 5 days here. Also you can get check scanners/lockboxes in the US with automate a lot of the processing of the checks. US banks can issue, print and post checks online (or via a file).

still bloody backwards, but a more automated way of being backwards.

silver2020

daheff wrote: »

maybe, but they are more automated in the processing of checks that Europeans are.

Checks in US can clear in a day or two. takes about 5 days here. Also you can get check scanners/lockboxes in the US with automate a lot of the processing of the checks. US banks can issue, print and post checks online (or via a file).

still bloody backwards, but a more automated way of being backwards.

checks in the US take 5 days too, but most banks allow the funds become "available" within a couple of days.

Same here, you can ask your bank to make cheque funds "available" upon lodgement.

Salary Negotiator

silver2020 wrote: »

checks in the US take 5 days too, but most banks allow the funds become "available" within a couple of days.

Same here, you can ask your bank to make cheque funds "available" upon lodgement.

Similar in the UK (when I was working there pre-2014), cheques cleared in 6 days but interest was paid after 2 and funds were available after 4.

OMM 0000

daheff wrote: »

you need a new bank.

also i'd suggest you get somebody in who knows what they are doing bankwise as it looks like your person doing it is trying to make payments as a wire rather than a SEPA transfer (assuming its EUR -otherwise ACH).

Small Japanese bank. Not an option.

DesperateDan

I thought there was like a €5 charge now for the banks to even catch the smell a cheque?

Seems totally ridiculous, we live an age where there are literally hundreds of alternatives that would be cheaper and almost instant. Are they paying some old one to do these who's been with the company since day 1 or something?!

OMM 0000

DesperateDan wrote: »

I thought there was like a €5 charge now for the banks to even catch the smell a cheque?

Seems totally ridiculous, we live an age where there are literally hundreds of alternatives that would be cheaper and almost instant. Are they paying some old one to do these who's been with the company since day 1 or something?!

We pay by cheque and bitcoin only.

Madness...

AlmightyCushion

DesperateDan wrote: »

I thought there was like a €5 charge now for the banks to even catch the smell a cheque?

Seems totally ridiculous, we live an age where there are literally hundreds of alternatives that would be cheaper and almost instant. Are they paying some old one to do these who's been with the company since day 1 or something?!

KBC charge a fee but it's small enough (I think it's 20c). PTSB used to be free if you used the ATM machines in branch to deposit it. That might be different now. Not sure if they charge for depositing at a counter though. N26 don't even support cheques.

I would seriously avoid any company that pays using cheque. It's a big inconvenience and I would worry that if they are old school about something like this, then what else are they doing that I might not like.

Assetbacked

KBC can take 8 working days to clear a cheque. I'd be very concerned getting paid by cheque from my employer, to the point where I would wonder whether I should even work for them.