Community Chat

[chrystaltree]

I suppose l will get one every quarter.   I retired in April and cashed out my retirement account.  It's an employee account  that should have been closed the day I retired.  Apparently something went a little wrong, there is a  tiny balance of probably $2 which I can't review because I'm not an employee and I don't have authorization or my Employee ID number.  Fidelity can't help me because it's an employee account and employees are required to process changes, actions etc online.  HR at my former employer said it's a Fidelity issue.  They closed the account.    So it looks like I will continue to get a check for $.02 forever.  It's ironic because on my job if we owed a patient, insurer or vendor less than $5, we didn't cut the check because it cost a lot more than that to process and mail it.  We wrote it off as "low dollar not disbursed".  If a patient or family wanted their $2.36 or such, the director or I paid them in cash from our own pockets.  We could have got reimbursed by petty cash but neither of us would ever do that for such a piddling amount.  Insurance companies and business don't want nuisance checks like that because it's costly to process and deposit a check for $1.43 so they agreed with writing them off.  Even with patients, we only had to give cash once or twice a year.  

[reviewer from sc]

I wonder if they will also pay the price of the stamp to send you the 1099-DIV form at tax time next year? How silly.

[Sooner]

With the market now, you're lucky to get any profit.  I don't know what's going to happen to us. 

[San Antonio Gal]

@chrystaltree  - You should be able to set up a direct deposit with Fidelity to avoid having a paper check cut.  

[chrystaltree]

---

@San Antonio Gal wrote:

@chrystaltree  - You should be able to set up a direct deposit with Fidelity to avoid having a paper check cut.  

No, I can't.  It's an employee account set up by the employer I retrieve from a few months ago.  My employer closed the account.  Plus my password and ID number were terminated the day I retired.  I'm not concerned by this ridiculous situation.  I stuck the check in the kitchen junk drawer.  Fidelity should be considered since the problem is there's but its just two pennies so, I understand why they don't care.  

---

[San Antonio Gal]

How about mailing the check back to Fidelity with a letter telling them to keep the 2 cents.  Maybe someone will try to fix it.

[Still Raining]

Love it!  What a silly!

Just let them spin their wheels.  Who knows, with inflation, it might go up to $0.03 😂

[MamaWick]

Decades ago, we kept getting dividend checks for 8 cents.  We never cashed them.  Years later, in checking our state's "unclaimed money" or whatever it is called, we found the state was holding something like $7.80 in our name.  All those uncashed 8 cent checks had been turned over to the state...lol.  We let the state keep it.

[gardenman]

I was billed by a major hospital for several months for a penny. I thought it was silly. (My total medical expenses at the facility since 1979 were for over a million dollars.) Around the third month, they called and offered to set up a payment plan for the unpaid amount where I could make monthly installments. I said, "Great! Let's do that!" (They obviously didn't have my account pulled up.)

When she pulled my account up, she gasped, "A penny? We're billing you for a penny?" I explained that I had no issue paying it, but it just didn't make sense to write a check and use a stamp to pay a penny. I'd just tack the penny onto another bill and another bill would be coming soon as I had another procedure planned. She agreed. I thought they were done, but no. The next month another bill came asking for the penny and threatening to start charging me interest and reporting me to the credit bureaus if I didn't pay it.  I got a postcard from the post office, taped a penny to it, and sent it to them. They sent me a receipt back along with a letter recommending not sending cash through the mail as it could be easily stolen. 

They spent several dollars in postage to retrieve a penny. It made no sense to me, but they did what they did. It also made no sense to the people I talked with there, but they did it anyway. 

[CherryHugs]

LOL that is so silly of them!