Both singles champions will win $5 million. But the envelope they receive during the trophy presentation is a symbolic gesture.
Category: Checks and Checking Accounts
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A Paychex 401(k) Rollover Leads to a Six-Figure Theft at Chase Bank
A thief stole 401(k) checks out of the mail. But why was Paychex, a major industry player, using paper at all given how often check fraud happens?
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Why Paper Checks Refuse to Die
It’s hard to avoid hassle — or fraud — when you’re required to pay with paper and ink. Here’s why checks persist and why some people don’t mind.
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What to Know About Writing Checks While Preventing Fraud
Should you keep a separate checking account for writing checks? Is there a specific pen you should use? We answer some reader questions.
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Check Fraud Is Rising and the Thieves Are Winning
Although check usage has declined in the last couple of decades, check fraud has risen sharply, creating a problem for banks — and customers trying to pay their bills.
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How Stolen Checks Are Sold and Bought Online
One reason this fraud is rampant: Open forums where anyone can buy checks that thieves have taken from the mail.
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How Do You Use Checks? And Do They Work Well for You?
Banks are worried about check fraud and are trying to discourage the use of paper checks. But nevertheless, they persist.
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Why Banks Are Suddenly Closing Down Customer Accounts
Surprised individuals and small-business owners can’t pay rent or make payroll, and no one ever explains what they did wrong.
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Why Banks Are Suddenly Closing Customer Accounts
Increasing attention to suspicious-seeming transactions has led to some people suddenly losing access to their bank accounts. The reasons are often a mystery.
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What to Do With Your Money During a Banking Crisis
The New York Times – Business:Watching the banking industry descend into turmoil is unnerving. But unless your financial goals have changed, embrace inaction.