0
No.
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
Can you cash stale dated checks?
! Banks have no responsibility to review the date on a check to determine if it should be deposited, paid, refused or rejected (this is in Rules and Regulations provided when an account is opened); On a stale dated check, ifcustomer doesn't want check paid, they should place stop payment on it. This also applies to post dated checks. According the the UCC, a bank can refuse a stale dated or posted check. It is at the discretion of the financial institution.
Journal entry for post dated cheque?
Debit expenses / accounts payableCredit bank
What is the treatment of post dated checks to bank reconciliation?
debit to cash and credit to accounts receivables
What is the journal entry when post dated cheque issued to supplier?
debit accounts payablecredit bank
What is difference between post dated check and a check?
The date the check can be cashed . For example I wrote ( 5 ) post dated checks last winter to a company that handles my snow removal of my residence Each check was dated the last day of the month . ( November / December / January / February / and March ) That way the company could cash the checks at the end of each month if I went somewhere warmer for the winter
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.
Can you deposit the post dated check before its dated?
No, you cannot. A post dated check is only valid after the date mentioned on it. For ex: If I give you a check with date as 1st may 2025, up until 30th April 2024, the check is worthless. Even if you try to deposit the check in your bank, the bank will reject it. Starting 1st May 2025, the check is a valid check and is worth the amount mentioned in it. On or after 1st may 2025, you can deposit the check in your bank
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.
What does a post dated check mean?
Postdating is to put a date on the check for some time in the future, not the current date. Technically a check is a contract, so if a person took a check into the bank and it was dated for tomorrow, they could not cash it.
How do you record overdraft?
please help me, on how do i record bank overdraft on the book of account? An How do you record the Post Dated Check received?
What is the accounting treatment for banker acceptance in banks?
A banker's acceptance starts as a time draft drawn on a bank deposit by a bank's customer to pay money at a future date, typically within six months, analogous to a post-dated check. Next, the bank accepts (guarantees) payment to the holder of the draft, analogous to a post-dated check drawn on a deposit with over-draft protection.
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 in T exas?
Yes, but as soon as the check is deposited, it will be paid. So, make sure you have the funds in the bank to cover it before you send it out.
What is the law on Post dated checks in Texas?
Post-dated checks are generally legal and can be written in Texas. However, banks are not obligated to honor post-dated checks and may cash them before the specified date. It is recommended to communicate with the recipient of the check to ensure it is not cashed before the intended date.
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.
If you stop payment on a postdated check and the check is cashed by a maney mart before the date on the check are you responsible?
Yes to question one. If you agreed to pay anyone for something, be it a purchase, loan, rent, etc, then you must uphold your end of the bargain. If you stop payment then you are not upholding your end of the "contract" and may be sued for the loss to the payee (who the check is made out to) plus what it costs them to take you to court. There are very narrow limits on when you may stop payment and not be responsible. These mostly involve fraud to obtain the check in the first place. Probably not to question two. If you wrote a post-dated check and they cashed it early, then your bank will probably accept the check. If you can't cover the check you will be hit with overdraft charges. Your bank may accept a post-dated check. BUT, it is illegal to present a post-dated check before it's effective date. In this case you may ask the payee to pay your overdraft charges. Looking at the two questions together, you may refuse the payment of a premature presentment of a check by telling your bank in writing ahead of time. The payee though may re-submit the check after it becomes due and then you are responsible. Because presenting a post-dated check early might be considered fraud, you might take them to small claims court and ask for treble damages caused by the overdraft.
Is a post dated check illegal in Florida?
I worked in banking for years, and never heard of post dated checks being illegal.
