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According to Financial Consumer Agency of Canada, No. They aren't.
If you write a post-dated check, under the clearing rules of the Canadian Payments Association (CPA) your check should not be cashed before the date that is written on it.
Most people tend to make out post dated check because they do not have enough money in their account at the time the check is made out. . Therefore although it is possible to cash in a check before the due date, there is a good chance that it will bounce in which case it is not good for the payee. Also the payer might be charged a fine in which case he or she might not be happy.
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Is a post dated check illegal in Florida?
I worked in banking for years, and never heard of post dated checks being illegal.
Is it illegal to postdate a check?
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 the date on the check.
Can a post-dated check be deposited before the post date?
yes it can be deposited since checks can be posted before their maturity date
Can a post dated check be cashed?
A post dated check can be cashed, but only when enough time has elapsed that the current date is equal to or later than the date of the check. Banks require a current date on checks.
Can you cash a check dated for next day?
Most banks and check cashing services will not cash "post-dated" checks until the date comes due on the date of the check. However, legally, some jurisdictions have laws that allow the negotiation of post-dated checks under the premise that the payee should be able to collect immediately when given a check.
Is a post dated check illegal in Florida?
I worked in banking for years, and never heard of post dated checks being illegal.
Are postdated checks illegal?
Are post-dated checks issuing allowed by the State law in Greece or it is forbidden? Tks for the answer. Massimo
What are the laws regarding post dated checks?
In the United States, post-dated checks are generally legal, but banks are not required to honor them. If a post-dated check is deposited before the date written on it, the bank may process it unless the account holder has provided the bank with written notice not to do so. It is recommended to communicate with the payee and your bank to ensure the check is deposited on the intended date.
Are post dated checks followed by banking prodecures?
I cant share about every bank but i know that is a post dated check is presented at the bank i work at we will not honor it. That said, if a post dated check is dropped in the night deposit or ATM machine we really have no choice but to process it. It is technically illegal to write a post dated check.
Is it illegal to postdate a check?
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 the date on the check.
What is the treatment of post dated checks to bank reconciliation?
debit to cash and credit to accounts receivables
What are the consequences for writing bad checks in pa?
If someone writes 4 bad checks that were post dated what charges would they be facing in this situation.
Can a post-dated check be deposited before the post date?
yes it can be deposited since checks can be posted before their maturity date
Are you allowed to write a post dated cheque in Canada?
Many people do it.
What law prevents collection agencies from collecting post dated cheques?
The law preventing collection agencies from collecting post dated checks is the Fair Debt Collection Practices Act. You can learn more about this at the Wikipedia.
Can a post dated check be cashed?
A post dated check can be cashed, but only when enough time has elapsed that the current date is equal to or later than the date of the check. Banks require a current date on checks.
Can you cash a check dated for next day?
Most banks and check cashing services will not cash "post-dated" checks until the date comes due on the date of the check. However, legally, some jurisdictions have laws that allow the negotiation of post-dated checks under the premise that the payee should be able to collect immediately when given a check.
