I got paid. I went to the Comerica, which is the bank of the issuing party, to cash it. They asked me if i wanted to open an account. I declined. They then wanted to charge me five dollars to cash it! I refused.
I used to get paid through NBD, and had cashed my checks there. Then Bank One bought them and started charging three dollars!
I don't understand. They are a bank. They hold the money for someone, and are obliged to honor written contracts by the account holder to distribute his money. And now they want to be paid for that service?? They're not banks, they're just similar financial institutions.
I figured the reasoning is pay for "free checking". But that can't be because most poeople have bank accounts.
It must be just another way to nickel and dime people. Bah! Money is everything now. Very few people care to run a decent business.