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Posted by: Bagami Posted on: 21.06.2020

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Post dating cheques

When you sign and issue a cheque you are authorising a payment and you should ensure that you have enough money in your account. A cheque should not be post dated if you don't have enough money in your account as the cheque can be presented at any stage.

I thought a cheque could not be presented before the date written on it.

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I would be really grateful for your help here. Many thanks, Emma.

Best Regards zppp. From the payments council website Banks set their own policies on post-dated cheques and, in many cases, their account terms and conditions state that customers should not write them.

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If the recipient of a post-dated cheque attempts to pay it into their account prior to the date shown, it may either be returned unpaid, possibly incurring charges for both parties, or it may be cleared, creating problems for the customer who issued it.

You may not issue post dated cheques. If You do issue one and the payee presents it for payment before the date on the cheque, we cannot guarantee that the cheque will not be paid.

Post-dated cheque

If it is paid, we will debit the amount of the. In the United Statesnational banks are permitted to pay checks even though payment occurs prior to the date of the check.

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According to the Comptroller of the Currency : "A check is a negotiable instrument -the payee, the person to whom the check is written, may negotiate it through the banking system at any time" and check writers seeking redress must restrict themselves to pursuing the payee.

Nonetheless, if "the customer has given notice to the bank of the postdating describing the check with reasonable certainty" the Uniform Commercial Code requires that the notice to be honored.

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From Wikipedia, the free encyclopedia. Archived from the original on Retrieved Comptroller of the Currency, Administrator of National Banks.

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Categories : Cheques Banking terms. Hidden categories: CS1 maint: archived copy as title Webarchive template wayback links.

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Dec 02,   You might think that writing a check with a future date will postpone payment, but it's not a reliable strategy. Here's what to know about postdated checks. postdated check: n. a check delivered now with a written date in the future, so that it cannot be cashed until that date. The danger to the recipient is that such a check is legally only a promissory note due at the later date, and if the account is closed or short when the check is presented at the bank, the payee has no rights to demand.

If you have the option, it is best to avoid writing postdated checks. Even if your payee is honest, they may make the honest mistake of forgetting and leaving you with bad check fees. Instead of writing a postdated check, try the following:.

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State of California Department of Justice. Consumer Reports.

Dec 21,   Cheques are treated as being for immediate payment irrespective of whether post dated or not. You are solely relying on the person you paid the cheque to, to hold it until the date on the cheque. Post dating is often covered in the terms and conditions of your bank. In short however, as soon as you issue a cheque, it is valid to be cashed. The habit of post-dating cheques goes back to when the only means of payment was by cheque or cash; i.e. before the advent of automated payments such as Direct Debits and standing orders. Historically, if someone wanted to phase their payments, such as for paying into an insurance policy, they issued a series of post-dated cheques to the recipient. Post dating cheques into a new year. OMI over 8 years ago. I need to write monthly postdated cheques to our lendor now through the new year. Due to the change of year, SA would not let me proceed. Could you please advise how I can accomplish this? Reply Cancel Cancel; RandyWester.

Consumer Financial Protection Bureau. What can I do? Bank of America.

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Jun 19,   Consumer Financial Protection Bureau. "Can a bank or credit union cash a post-dated check before the date on the check?" Accessed June 7, Consumer Financial Protection Bureau. "My bank/credit union cashed a post-dated check even though I told them about the post-dated check before they received it. What can I do? A post-dated check (or post-dated cheque) is a check written with a future date. In other words, the date that appears on the check is after the date when the check was written. Even with a future date appearing on the check, the check could clear (be paid from) the bank account prior to that date. Jun 28,   A post dated check is a check on which the issuer has stated a date later than the current date. A post dated check is used in the following situations: Deliberate payment issuer does this in order to delay payment to the recipient, while the recipient may accept it simply because the check represents a firm date on which it will be able to deposit the check.

He covers banking and loans and has nearly two decades of experience writing about personal finance.

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