One Cent Check

I walked out to get my mail yesterday to find an unexpected check in the mail. Of course, I am always thrilled when I get unexpected checks in the mail. Usually they are for rebates that I forgot about and simply mean a few extra bucks in my pocket, but I am never one to discount that it might be something much larger. Opening up the envelope to see what type of fortune made it’s way into my mailbox, you can imagine my surprise to find that the check was made out for a whopping $0.01.

once cent check

The check was from JPMorgan Chase Bank for a class action settlement from eBay regarding final value fees from April 21, 2005 through August 26, 2009 (YingLing vs eBay Inc). The best part is where the notice above the check reads “You should contact your tax professional regarding the impact this distribution will have on your taxes.”

Of course, since a one cent check may be considered a once in a lifetime event for most people, the question that immediately comes to mind is what should one do with it? Here are three options I am considering:

1. Go to the bank and cash it to see the reaction of the teller.
2. Sell it on eBay.
3. Contact JPMorgan and see if I can get a replacement check, then wash, rinse repeat to see how many I can eventually get.

Which one of these do you think would be the best course of action or do you have even a better suggestion?

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13 Responses to One Cent Check

  1. Alexandria says:

    Too funny.

    I also like how it says, “Cash promptly – void after Dec. 22, 2011.” What is up with that?

    My first thought would be to see if this was a fraud. In this case it looks legit – but I would be extremely careful cashing any unexpected check.

  2. CB in the City says:

    Oy! What must it have cost to print all those checks?

  3. Kristen says:

    I think I’d go with “getting a replacement check” although all options are hilarious as well.

  4. tracey says:

    I got a .03 check, I researched it and it is legit, what a waste, it cost more to mail it.

  5. Chris says:

    Gee, mine was $.10. Not sure what I’ll do with that huge amount yet, either.

  6. Whatever you do, don’t spend it all in one place! lol

  7. DON says:

    .01 here also. I wonder how much $ the lawyers got?

  8. Gail says:

    Several on line friends got the .03 ones but someone heard of someone that got more that a dollar! I can’t believe the banks would even be willing to ‘cash’ these without a fee.

  9. Darrell says:

    Hmm… usually these class action lawsuits will saying something like if your award is less than $1, you won’t receive anything. Guess they forgot to put that into this suit! Wonder how many dollars of class-action settlement funds was spent to process and pay you 1 cent?!

  10. lori says:

    No doubt the check was sent in bad faith. Who in their right mind would wait time to cash a penny check? I’m thinking that legalities are of issue here,, (think I’m going to throw the check away) Its a spam

  11. evie says:

    @lori- I think that’s what they want, everyone to throw them away… For every 100,000 .01 cent checks that aren’t cashed, they get to keep $1,000! Same thing happens with gift cards every year.

    Deposit it via your phone and keep it.
    And yes, I pick pennies up off the ground too!

  12. Connie Enderle says:

    All of you need to deposit the checks. Do not let Ebay get away with keeping any of that money. They take enough of our money we sell products on Ebay. They get Ebay fees then since they own Paypal they get the fees there to. Just deposit them just to make a point!!

  13. Maria says:

    What do I do if I cashed the check for 16 cents and it bounced, my bank charged me $19.00. Already talked to ebay and paypal. my home branch, us bank won’t credit me, because i already got credited once before

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