Post dating cheques illegal uk
If the cheque is deposited by a business, however, it might be in a batch of cheques and the date would be missed.If it is deposited in a machine the date isn't looked at at all, except for staledate.(Closing one of your oldest accounts, particularly if you don't have many accounts, will hurt you.) a C/ How many other credit lines do you have?a C/ How much of your total credit card capacity (on all cards combined) do you use in a given month? The checks usually aren't cashed until the first of the month and they clear my account on the second or third. Key and my landlord both said, "Too bad," and said postdating checks is illegal, anyway. There are no Federal Reserve regulations, which cover banking, that govern the payment of post-dated checks, said spokeswoman Anne Di Teodoro. The bank can cash it unless it believes the check won't clear or is fraudulent.become void) 6 months after their face-date, therefore they DO check the date. Can you deposit cheques post-dated before their face-date? I've had an instance where the bank did cash it (TD).I've also had instances where the bank held the cheque until the date it was valid.
The rent check of 5 cleared, but wiped out my balance, which was supposed to cover other checks and ATM withdrawals. The Answer: This is an important lesson for people, and a potentially expensive one for you: It doesn't matter what date is on a check -- it can still be cashed. She noted that such matters are governed by the Uniform Commercial Code, which concerns general business practices.
A customer with concerns about a post-dated cheque being processed to his or her account should raise them with his or her financial institution.
If the institution is notified within the timeframe described above, the cheque can be returned through the clearing.
A CSR for PCFinancial told me that post-dating is just an agreement between you and the person who wrote the cheque, and if you deposit it early then it may actually be honoured.
This does not make sense to me because cheques stale-date (i.e.