Free private adult chat room - What does post dating a cheque mean

Unfortunately, the fact is that there’s generally no actual obligation to honor the date on a check.

According to the code, a personal check becomes "stale dated" six months after you write it.

Banks don't have to dishonor stale dated checks, but the Uniform Commercial Code gives a bank the option of refusing these checks.

BACK Our Post-Dated Check Warehousing facility allows you to remit your post-dated check (PDC) collections to BPI prior to maturity/posting date.

The check amount is automatically credited to your deposit account upon maturity. Since the checks are already with us, safekeeping and negotiation of the checks upon maturity date is assured. Automatic and immediate credit of the check amount upon maturity to your account means that you can do more with the funds that you have.

But, what if the check recipient doesn’t listen to my instruction and deposits the check before the written date?

I turned to Wells Fargo and Chase to help me answer that question. A banker said, “Generally, we would try to pay out the fund on the check even if it was post-dated.

Thanks to automated payments and online banking, many of us rarely (if ever) write checks, but millions of Americans still pull out their checkbooks every day to pay their bills.

Because they might not always have enough money in their accounts on the day they write those checks, some folks will postdate their checks so that they aren’t deposited or cashed until after that date.

Birmingham Midshires carelessly presented a clearly marked postdated cheque to their bank three weeks before the date on the cheque.

The bank the money was going to accepted the postdated cheque apparently without question.

In fact, in some states, a check payee can claim damages if a bank refuses to pay a post dated check.

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