I think it is bad business cents to make a habit of spending $0.39 on postage to send out checks for small amounts. That’s right, my student loan provider sent me a check via First Class U.S. Postal Service mail — not even the pre-sort rate — for $1.57. Apparently, when loans are consolidated, there is a little bit of estimation when the payoff amount is determined.
I’ll try not to spend it all in once place. It’s not worth the expense in gas to drive to the bank to deposit this check until I receive another one. These days, with PayPal, ETF, and Direct Deposit being practically the only ways I receive money, getting a check in the mail is an infrequent occurence.
Updated February 6, 2012 and originally published November 7, 2006. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.