colombia community members dating - Post dating check

It is the same advice for businesses – you should not post-date your cheques.

post dating check-60post dating check-31post dating check-90

This is likely to be inconvenient to both you and the person or business you have given the cheque to.

If the bank does not spot that the cheque has been post-dated, the cheque would then probably be paid before you intended or returned unpaid if you have insufficient funds in your account.

Many banks state in their terms and conditions that post-dated cheques should not be written while some include a note at the front of chequebooks, advising that post-dated cheques should not be written.

So the safest practice is not to write post-dated cheques at all and set up a series of standing order payments, (provided the recipient is set up to accept automated payments to their account).

But even under the alternative, why wouldn't a financial instrument (a check) NOT be legal? It basically becomes a promise to pay at some time, not on demand now.

Almost all financial instruments have time frames that you need to wait for them to mature, or after which they become worthless.

There are no specific rules on how banks deal with these post-dated cheques if they are paid in before the due date.

However, it’s likely that if the paying bank spots a post-dated cheque, it will return it with the reason given as “post-dated cheque”.

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.

Or you can future date a series of online or mobile banking payments. In general, banks do not charge cheque writers for returning a cheque unpaid because it is post-dated.

Tags: , ,