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It is illegal to write a cheque knowing that there are no funds in your account to cover it. The bank will not clear it and will charge you a fee for the service and possibly send you a tersely worded letter explaining the "Conditions of Use" of your cheque account.
The other problem will be finding somebody silly enough to accept a post-dated cheque.
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∙ 13y ago
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Are postdated cheques illegal in the UK?
No Post Dated Cheques are not ill legal. Gnerally client gives this kind of cheque for some kind of gurantee and assurity.
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.
What is cheque discounting?
Client can take money from bank on the security of post dated cheques issued by their credit worthy customers. The bank in this case is certain that they will get the payment of this cheque on the due date from the customer of the client. Normally the cheques should not be dated for date which is later than 90 days from the date of discounting.
Is it legal to write a post dated check in Pennsylvania?
Yes, it is legal to write a post-dated check in Pennsylvania. However, banks are not obligated to honor post-dated checks, so there is a risk that the check could be deposited before the date written on it. It is recommended to communicate with the payee about the date the check should be deposited.
Can you write a post-dated check?
Yes. You can write a post dated check. It is perfectly legal as long as the person to whom you gave the check doesnt submit it for cashing before the date you put on the check.
Is it legal in Michigan to write a post dated check?
Yes. Writing a post-date check is perfectly legal anywhere in the world. But, cashing a post dated check is not. A check can be submitted for encashing only on or after the date mentioned on the check has reached. Until the check's date has reached, it is a worthless piece of paper that has no value.
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.
How did people pay for things on eBay in 1995?
They sent their cheques in the post to the seller.
What are cheques that are dated for payment sometime in the future?
They are called Post Dated Cheques. Lets say today is 1st Jan 2012 and I need to repay you Rs. 5000 that I borrowed from you last year in April of 2012. I can give you a checque for Rs. 5000/- with date as 2nd April 2012 and give it to you. Until the 2nd of April 2012, the cheque is worthless. But, you can deposit it into your bank account on or after the 2nd of April 2012 and you will get the money (If my account has the equal amount balance)
Difference between post-dated check and stale check?
A Post Dated Cheque is one that has a date in future. A Stale Cheque is one in which the date is in the Past. Usually cheques have a validity of around 90 to 120 days. So, lets say someone gave you a cheque in March 2011 and you have still not cashed it, it is a stale dated cheque. Similarly if I give you a cheque with date as 10-May-2012 today (on 14 Jan 2012) it would be a Post dated cheque. In this case, the cheque is valid only on or after 10th May 2012. Until then, it is just a piece of paper and is worthless
Can you cash your check for January 3rd today the 31st?
No, a check dated in the future is a post dated check. Banks won't knowingly cash a post dated check.
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