V10.14: Old Checks & Minimum Check Amount

The minimum reimbursement check is $25, unless the total balance due to a participant is less than $25. 

All checks issued by FlexToday include a "stale date" of 90 days from issue date.  We periodically review outstanding checks that were issued on the Express Pay account that are over 90 days old.  In our last review of outstanding checks, there were 10 outstanding checks over 90 days old (out of over 5000 payments issued) and more than half were amounts under $25.  Because the cost to replace those checks is $25 the fee to replace lost or stale dated checks is $25. 

If we are issuing checks for you from your Corporate/Company bank account, please review your outstanding checks periodically - at least every three months.  We will reissue upon request but if the outstanding check is less than a year old.  If the check is more than a year old, it may require the reopening of a prior plan year and additional fees may apply. 

This blog is presented for the consideration of our clients and business associates.  It is not intended to be legal, accounting, tax or professional advice. This information is not directed to any specific situation or individual and we do not assume liability for the use of or reliance on this information.  FlexToday respects your privacy and will make every effort to preserve your privacy but we do not and will not assume responsibility or liability for the content or use of any information you choose to post to this blog.  The comments posted on this blog are not necessarily those of FlexToday, Inc. or its employees or representatives.   This is a brief version of our privacy policy. For more information on our privacy policy, please refer to our main website, www.FlexToday.com.

Copyright 2010 FlexToday, Inc., All Rights Reserved
FlexToday, Inc.
www.FlexToday.com
Email: Flex (at) FlexToday.com
PH 800 995 5373 or 559 432 6800
Mailing: PO Box 16099 Fresno, CA 93755
Street: 191 W Shaw Ave Ste 101 Fresno, CA 93704

 

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