The Mystery Behind the Penny Check

Maybe someone reading this blog post can help me understand the theory behind a penny check.  The other day I received a check for a $0.01. It came from GAP when I accidentally overpaid $0.01 on my Gap credit card balance a few months back. The penny check came in the mail with a $0.41 postage paid stamp.

Now maybe someone can explain to me why they need to mail me a penny check? Why couldn’t it stay as a credit on my account for when I need to use for the next bill? It doesn’t seem very cost effective for them to mail me a penny check after paying 41 cents postage. I remember once receiving a nickel taped to a paper from a certain charity reaching out for donations but this is even more ridiculous.

On the contrary, I have a credit balance of over $300 at Nordstrom for over 2 months. But they aren’t actively clearing my balance and sending me a credit check.  In fact, they are making it more difficult by forcing me to pick up a phone and call their customer service during their service hours.  This at least I understand. Of course they want to keep my money. =)  I just need to stop being lazy and request a check.

Hmm, I’m not even sure if I can even deposit that GAP check. I wonder if Ally’s mobile e-deposit would complain an e-check deposit for one penny. =)  I feel like the computer would complain that it’s bank error. Anybody else tried?

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