Last month I wrote a check to one of my utility suppliers, and it has not cleared the bank!
When I called the utility company yesterday, I was told that they were in receipt of the check, but they were unable to deposit it or cash it because their accounting system was not set up to handle a check in the amount I sent.
What was the amount?
Negative two dollars and eighty-seven cents.
I should have made a copy of it to post here... I will if it ever shows up in my online register.
I received a bill from them a couple weeks ago, and as I had overpaid my account the last month, the 'amount due' was listed as -2.87 which is great news!
Underneath the box which contained the amount due was a statement that read, "Please remit a check payable to XXX in the amount shown above".
That's exactly what I did.
I wondered how the mechanics would occur - theoretically, $2.87 should be credited to my account and debited from theirs.
I'm going to overpay a different bill by $0.01 and do this again. I'll keep you posted...
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Followup: Here it is 2010 and the issue still has not resolved. The $2.87 credit is still showing up in my statement. Perhaps I will zero my outstanding balance so the credit shows, wait for another bill and send them another check for $-2.87!!!
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