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Dating a check for the future

Debt collectors breaking these rules could face civil penalties. For example, it prohibits debt collectors from accepting checks postdated more than five days away, unless the debt collector has notified the check writer in writing it will do so.

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. Your request should include the recipient's name, your account and check numbers, and the check's amount. That means the bank must wait to cash the payment until the date stated on the paper or until six months is up, whichever comes first. Additionally, the only time a bank can be held liable for processing a postdated check before the indicated date is if that notice is still valid.

The postdated cheque is not

If he does cash it early, he can be made to pay fees and costs as well as potential civil penalties. Often, bank tellers don't even look at the date while handling checks. In West Virginia, for example, the law prohibits someone from requesting or accepting a postdated check if he intends to deposit or cash it before the check's date. But recipients should also check state law.

People typically do this when they want to give a check to someone but aren't certain they'll have enough money in their account until a certain date to cover it. The post-dated cheque is not payable till the date which is shown on the face of the said document.

Share on Facebook You postdate a check by writing a future date on it. State and federal laws cover the cashing and depositing of postdated checks, and laws vary from state to state.

Federal Law Prohibitions Federal law regarding postdated checks relates to debt collection. State Laws for Honest Postdating If you want to write a postdated check just hoping it won't be cashed before a certain date, check your state's law first. Recipient Rights and Responsibilities Check recipients can either decide to accept or not accept a post-dated check. Try again later Consumer Support. This article originally appeared on Consumerist.

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 notice is valid for up to six months. Other states, like West Virginia, place responsibility on the person the check is written to. All email addresses you provide will be used just for sending this story.

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