What is postdating a check mean
1 to write a future date on (a document), as on a cheque to prevent it being paid until then 2 to assign a date to (an event, period, etc) that is later than its previously assigned date of occurrence 3 to be or occur at a later date than collins english dictionary – complete and unabridged, 12th edition 2014 © harpercollins. I found that they had cashed a check that i had postdated three days early to avoid any when i postdate a check haven't i just told my bank i have not authorized payment until a certain date in other cases, the the inability to understand what a post-dated check means made them a lot of money tags. Post dating a cheque means drawing a date later then the date of signing the cheque this can happen when date is written after a cheque is signed or on the date of signing a cheque a date in future is written on the cheque ante-dated cheque is perfectly illegal the only problem could be due to expiry of 3 months of. Another line of reasoning taken by the courts supporting this view is that bad check statutes do not apply to postdated checks, because such checks do not conform to the definition of a check in the negotiable instruments law, that is, “a bill of exchange drawn on a bank payable on demand” other courts. (a) it is unlawful for any person, firm, or corporation to obtain any services, goods, wares, or other things of value by means of a check, draft, or other written order upon any bank, person, firm, or corporation, knowing at the time of the making, drawing, uttering, issuing, or delivering of such check or draft that the maker thereof.
A post-dated cheque is a cheque issued with a written date in the future or dated after the date of issue section 13 (2) of bills of exchange act 1949 (act 204) a bill is not invalid by reason. You can't buy time: postdated check means nothing fund watch humberto cruz october 9, 1996|humberto cruz q: when i get a monthly check from a bank for interest payment on a certificate of deposit, it is usually dated forward and i cannot cash it until that date but when i pay bills and i date the checks the. Secure and timely handling of post-dated checks since the checks are already with us, safekeeping and negotiation of the checks upon maturity date is assured maximized funds float automatic and immediate credit of the check amount upon maturity to your account means that you can do more with the funds that you.
Section 13 (2) of bills exchange act 1949 (act 204) a post dated cheque meaning, definition, what is on which you write date that learn more 12 mar 2014 if you've ever postdated check, here are some things should know to provide a postdated check, it also what are checks postdated checks written to be. I recently sent in my rent check early, as i usually do, with the date on the check reading sept 1 the check was cashed by my landlord at his bank (dollar bank), and my own bank (key) on aug 26, despite the sept 1 date clearly written on the check i was hit with $380 worth of overdraft fees key and my. Thus, what seems to be the most reasonable means to accomplish the transaction -- post-dating the check -- cannot be done because it clearly would be considered a loan and thus subject to the regulatory loan act further, if the agreement not to present the check were to be in writing, it may be construed as a written.
The following question was submitted to john roska, an attorney/writer whose weekly newspaper column, the law q&a, ran in the champaign news gazette question i wrote a post-dated check to cover an iou the person didn't wait to cash it like he was supposed to, and my bank paid it, which caused several other. Customer means any person who seeks to have a check cashed 25 by a licensee but does not include the maker “payroll check” means a check issued by an employer to its 5 employee in payment of salary or wages for cash or advance any money on a postdated check except 22 that a licensee may cash a check. Postdated checks if a postdated check — a check dated in the future — is presented for payment, we may pay the check and charge it to your account even if it is presented for payment before the date stated on the check if you do not want us to pay a stale-dated or postdated check, you must place a stop payment order on. Definition of 'postdated' a postdated check or draft will display a future date on it a check user will often write this in to specify that s/he does not want to withdraw the amount of the check until the date specified (for example, if mike writes a check on the 14th of january, but postdates it for the 28th, the bank will not cash.
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 that means the bank must wait to cash the payment until the date stated on the paper or until six months is up,. (10) postdated check means any check that is dated ahead and bears a date that has not yet arrived a postdated check shall not be considered a demand instrument section 2 krs 368020 is amended to read as follows: (1) except as provided in krs 368030, no person shall engage in the business of cashing checks. In the united kingdom, post-dating a cheque carries no legal weight and so such a cheque can be cashed before the due date however, a bank may refuse to honour a cheque if the post-date is noticed otherwise, the payer has no right to take any form of legal action against the bank for letting the cheque be processed.
What is postdating a check mean
Concerning your bank paying a postdated check before its time, ucc subsection 4-401 states that a bank may honor an otherwise properly payable postdated check before its date unless the customer has given the bank reasonable notice of the postdating the notice of postdating is simply a means by which you can. Our advice is that you shouldn't post-date cheques because it is likely to be against the terms and conditions of your bank account different banks have different policies, but the majority of banks discourage the practice of post-dating cheques many state in their terms and conditions that post-dated cheques should not be. Legally, post-dating a check has no meaning once a check is signed, it becomes legal tender regardless of the date of the check rules regarding post-dating vary from state to state banks are generally not liable for cashing a post-dated check unless certain rules about notice are strictly followed.
Postdated checks are written to be drawn from the checking account only after a certain date in other words, postdated checks only become functional after the date mentioned on the checks this means that the initial holder of postdated checks cannot use them until the date on the checks has come this is not. Corporation who knowingly draws, makes, utters, or issues and delivers to another any check or draft drawn on any to locate, stale dated, postdated, endorsement irregular, signature irregular, nonnegotiable (c) the word credit as used in this section means an arrangement or understanding with the bank or.
Definition of postdated check: a check with a face date later than the actual date on which it was written a check written on may 25 with a date of. This may account for why issues surrounding postdated checks which should be noncontroversial after a number of decisions keep coming up in appeals 7 this question was raised as recently as 1978 in australia where the court stated that a postdated cheque is not a cheque within the meaning of the bills of exchange. Postdate definition, to date (a check, invoice, letter, document) with a date later than the actual date see more.