Interest when cashing a check
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Question
He lent someone 1,000 shekels in cash, and at the time of repayment the borrower said that he has a check for 1,100 shekels, and he wants the lender to take the check instead of cash and the borrower will add another 50 for the loan. Is this considered interest (ribbit)?
Answer
The lender may take a fee for accepting the check, but only at the rate that is normally charged on the market for cashing (discounting) such a check.
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