One noteworthy topic had to do with post-dated checks and what happens to them when you attempt to deposit or cash the checks before the date written on them. Curious as to what happens when I defy the concept of post-dating, I checked with banks to their rules on the matter. When you post-date a check, you put a future date on the check with the idea that the recipient does not deposit it until that written date. However, I do expect to have those funds by the date written on the check. So, I post-date the check so that the check recipient knows not to deposit that check until that date.
Then, I spoke with a friend who happens to be a Chase bankerwho generalized what a teller would do if a customer came in to deposit or cash a post-dated check before the date shown. If there are multiple occasions of failed check deposits, the bank could even close your account and report you to ChexSystemsa consumer reporting bureau that tracks negative banking history.
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There are no guarantees that the recipient will do the right thing by depositing the check on or after the date shown. Ideally, give the check only when you have the funds to cover the check amount.
Have you ever deposited a post-dated check before the date shown? What happened did you ever encounter any problems with it?
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Jan 31, It is not straight forward and can give problems to any lawyer that agrees to backdate a document, even if he makes it clear on the document that it . Law on Postdated Checks The Uniform Commercial Code states that a bank may honor a postdated check provided the check is otherwise safe to cash and . Jun 19, A postdated check is a check with a future date written on it. For example, assume that today is January 1, and you're writing a check. In general, you'd put the current date of January 1 on the check. But you could just as easily postdate it a week and write January 8 on the check.
This site may be compensated through the bank advertiser Affiliate Program. Pamela Banks, senior policy counsel for our colleges at Consumers Union, tells Consumerist that sending a postdated check can be an indicator to the recipient that the check-writer is in dire financial straits.
She says that many people who end up falling into predatory lending traps like payday loans have also used postdated checks to try to stave off debt collectors. Instead, consumers could seek alternative measures such as a small-dollar loans from a credit union or community bank, inquire about a pay advance from their employer or work out a payment plan with the company or individual they are paying.
This is the Forward's tag page for Dating. You can find all articles written about Dating on this page. When you post-date a check, you put a future date on the check with the idea that the recipient does not deposit it until that written date. For instance, today is Jan. 1, but you actually write. Jun 03, In some states, if a consumer gives the financial institution reasonably timed written notice about a postdated check before the check is received, then the .
In addition to understanding the risks and potential issues with providing a postdated check as payment, consumers should be cognizant that it is illegal to intentionally write a bad check. Still, she tells Consumerist that the bank in question agreed to remove the overcharge fees incurred as a result of the situation.
Last ated: June 3, Sharing is Nice Yes, send me a copy of this email. According to California's bad check law, writing a check with the intent to commit fraud or knowingly writing a check when there are insufficient funds to cover the full amount of the check are both illegal.
However, if the tenant writes the check with the intent to have funds in the account on the date that the check is postdated for, there is no intent to commit fraud or pass a worthless check and therefore no illegal activity has technically taken place. Accepting a check that is postdated may provide the tenant with a legal defense that negates criminal intent even if the check doesn't clear.
As a landlord, collecting a check that has been postdated could be dangerous. The tenant may know that he or she will not have the money in time, the check could have a stop-payment placed on it, or the check may bounce.
Waiting to cash a check that has been postdated provides the tenant with time to make other living arrangements, move out or otherwise abort the lease agreement. In situations in which the tenant can be trusted, the landlord has known the tenant to be an honest, on-time payer or the landlord otherwise believes that the money will be in the tenant's account on the date the check posts, accepting a postdated check can be beneficial. A postdated check does show the tenant's will to pay, and if the funds are in the account on the date the check is cashed the landlord will receive the money.