Yeshiva lost 4 months of headchecks, do I have to stop them?

amother

Mon, Jun 16 2014, 10:24 am

Yeshiva lost and has no idea of the whereabouts of 4 months of (everyone's) head-checks, do I have to stop them? I paid a year in advance and they lost the last 4 months.

Is there any way around having to pay my bank to stop four checks?

amother

Mon, Jun 16 2014, 10:36 am

SplitPea wrote:

Yeshiva lost them and wants them reissued shouldn't they pay the stop check fee?

That'll be the day... whats a fee per check to stop checks these days (I use Santander)?

Barbara

Mon, Jun 16 2014, 10:45 am

SplitPea wrote:

Yeshiva lost them and wants them reissued shouldn't they pay the stop check fee?

Should they? Yes. But if they lost all the checks, that would cost a fortune. Say 300 students, 4 checks each, $30 a check -- $36,000.

asp40

Mon, Jun 16 2014, 10:48 am

I would stop the checks and write new ones, but deduct the cost of your fees form the checks. This is their poor management.

amother

Mon, Jun 16 2014, 10:52 am

Good news. This happened to me too last year. When I called my bank to stop the 8(!) checks they only charged me one stop fee because it was in order eg checks 201-209. So I stopped the checks and didn't charge the school but yes I was annoyed at the poor management.

amother

Mon, Jun 16 2014, 11:04 am

amother wrote:

Good news. This happened to me too last year. When I called my bank to stop the 8(!) checks they only charged me one stop fee because it was in order eg checks 201-209.....

Thanks for offering that info!!!!! Ill mention I at the bank. Im heading to the bank and cant wait to see what my bank will do.

amother

Mon, Jun 16 2014, 3:13 pm

amother wrote:

Thanks for offering that info!!!!! Ill mention that at the bank. Im heading to the bank and cant wait to see what my bank will do.

OP here. Santander charged me $30.00, one stop payment fee, for all 4.

BUT, the checks for July and August are only protected for 6 months from now, and will be able to be cashed January and February unless I want to stop payment again for those two checks then....

SRS

Mon, Jun 16 2014, 3:51 pm

Sounds like there is a serious internal controls issues. The checks should have been locked in a safe for the entire year, sorted by month. I'm curious if they lost other checks. I don't really care about their bottom line. The school has to eat the fee. Deduct it from the first check you give them with a note.

And, I'd demand the board take immediate action on an internal controls review and rectify the situation. What else have they lost?

amother

Mon, Jun 16 2014, 6:13 pm

Yup, I was secretary in a school, and that's exactly how it was - checks sorted by month (and day of month - some were for the 1st, 10th, or 15th) in a locked fireproof safe.

I would be more than a bit disturbed to hear that checks "disappeared."

SRS

Mon, Jun 16 2014, 6:39 pm

Schools should have all money assets under lock and key (a safe). They should have limited petty cash. All equipment like computers should be identified and inventoried regularly. Keys should be inventoried and recovered when an employee leaves. Same goes for any passwords.

Financial records of parents and other records with sensitive information should be kept in a locked cabinets and disposed of very careful on a schedule. Checks and records should not be laying about.

Sadly, too many schools are not operating anywhere close to where they should be on this issue. I could probably walk into a few schools here and have a few new identities shortly.

loveit

Mon, Jun 16 2014, 11:18 pm

It's too bad they can't switch to an autopay system that the parents sign up for. At my children's school they use FACTS and it automatically deducts from your bank account on a specified day of the month so it's just like sending in 12 checks but the school doesn't have to worry about keeping track of the checks. Also the system sends out a reminder email every month a few days before so you can be sure the money is in your account.

oh and this is a yeshivish school

I would absolutely deduct the bank fee from the tuition checks - the schools lack of security is upsetting.