Postdating Checks Is a Waste of Time — Here's Why.
Like all accounting problems, you need to assess all of the facts, not just the entries surrounding the cheque. There is a decision-making thought process that considers implications regarding who can be affected as a result of various events that.
But nowadays that doesn’t work because one, technology eliminates most float, and two, banks want their money fast. That’s one reason it’s illegal to write a post-dated check and why check bounce fees are so high. It won’t do any harm to talk to your bank and try to save yourself that fee, but unless you have a very close relationship.
Keep track of whether cheques you write have been cashed or not. This will ensure that if a bank cashes a stale-dated cheque, you have the money to cover it. This could help you avoid NSF fees. Post-dated cheques. A person or a merchant can’t cash a post-dated cheque before a certain date.
If you have a check from someone who has passed away, it can legally be cashed, and you should be able to receive the money. However, there may be financial problems with the estate that could prevent you from getting the funds. If this is the case, you can try to cash the check, but there is no firm guarantee the bank will pay on it.
In other words, you'd have to notify the bank when you write the post-dated check to keep the bank from honoring the check prior to the date on the check. Just for historical perspective up until this 1990 (approximately) revision of the UCC, it was perfectly proper to issue a post dated check and it was the drawee banks responsibility to bounce it if the date had not yet arrived.
A post dated check is when you write a check but date it for the day you want it to cash. So what he wanted you to do is write a check and date it for the date you get paid. I really dont know what advice to give you. If you are sure that the amount you write on the check will be available in your bank account on your payday then probably isnt.
In some states giving post-dated checks is illegal. 97% of banks will not accept post-dated checks due to the liability and they are postdated for a reason and cause all sorts of problems for the payor of the check. Few companies have actual agreements with the bank to be able to cash a post-dated check due to their relationship with the bank.
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.
If you write a check with a date in the future, so that the check cannot be cashed until the date on the check, then you have written a postdated check. Unlike a normal check, a postdated check is.
A post-dated check is an order to pay the bearer at a definite time in the future. Obligation of the Bank Although it is legal to post-date a check, the bank to which the check is presented for payment may charge the payor’s account even before the date of the check and even if doing so creates an overdraft.
It is not illegal to post date a check. Though it is illegal in some states to request someone to write you a (or many) post dated checks to guarantee payment. The check is not legal tender until.
You must check that a job applicant is allowed to work for you in the UK before you employ them. You could face a civil penalty if you employ an illegal worker and have not carried out a correct.
On the flip side, a post-dated check is a promissory note, and holds a danger to the payee. If I write a check dated today to you, and close my account before you get to the bank, you can take legal action on me for acting in bad faith and writing a bad check. If I post-date the check for next Monday and close the account today, you're left.
