[Chatbrat]

Closed out a credit card with a bank--had a credit on the account--got a check for 6 cents

[CWGUY]

Originally Posted by Chatbrat

Closed out a credit card with a bank--had a credit on the account--got a check for 6 cents

What is a 1st. class stamp? 49 cents?

[Chatbrat]

Yes & a note said if I don't cash it, the funds must be submitted to the State of Fl---imagine the the $$ cost factor -6 cents could cause over time-since I'm going to frame the check

[ColdNoMore]

I've received a number of checks for less than a dollar or so over the years and get my revenge on the stupidity of them spending more than the check is worth...by just not cashing it.

I realize that they most likely become void after a period, but it's still fun to think of some anal accountant somewhere cursing me...because their books don't 'balance.'

[dnobles]

We just got one for $.03 The company was told to right it off but sent us a check instead.

[Buffalo Jim]

Actually what you are seeing at work here is but one of the many government regulations which require unclaimed funds to be eventually turned over to a government entity . In this case usually a state agency . As I recall every state has such requirements . Same for unclaimed bank deposits from long inactive accounts and also unclaimed rent deposits just to name two such examples .
While the individual amount may be very small , as in this situation , over any given year the total of the monies collected by the individual states comprise a surprisingly large sum .
Another perhaps interesting " side-bar ", in many states such as NY , banks are required to pay interest on the deposits held in lawyers' escrow accounts [ the funds of their legal clients ] . However neither the lawyers nor their clients see the interest which must be paid . Instead the banks must periodically transfer the interest paid on such accounts over to the State Banking Department . They in turn hand the funds over to the state comptroller who uses them to help support legal services to the indiginent such as Legal Aid Services and Court Appointed Attorneys .
As you might expect when it comes to our various governments and their collective appetites for more and more money no possible source gets overlooked .

[rivaridger1]

If you wanted to see the smallest check ever for an awful lot of effort, the " recruits "into the U.S.Armed Forces in 1965 were the recipients of them.

[Topspinmo]

My jury duty check was 15 bucks.

[dewilson58]

Originally Posted by Chatbrat

Yes & a note said if I don't cash it, the funds must be submitted to the State of Fl---imagine the the $$ cost factor -6 cents could cause over time-since I'm going to frame the check

Regulations set a minimum of $50 for unclaimed property. That's after the Holder does not have a valid address.