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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.
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.
Is a post dated check illegal in Florida?
I worked in banking for years, and never heard of post dated checks being illegal.
How many days before i can encash cheque?
Unless the cheque itself says otherwise, you should be able to cash it immediately.Even if it does have a later date on it, in the US, banks are not actually required by law not to cash "post-dated" cheques, though they generally do try not to. If you post-date a cheque, you should regard it as a polite reminder to the person you make the cheque out to not to cash/deposit it before then, not as an absolute barrier to them doing so.
What does PDC means in terms of payments?
Post Dated Cheque
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.
Are post dated cheques legal in Australia?
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.
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.
You are looking for a loan in Dubai?
i will arrange a personal loan for you without the transfer of salary and without post dated cheques with less interest rate..call me on 0551682084 or email me on sahilbhat2010@gmail.com..loan will be approved in 3 to 4 working days. Regards Ahmad.
What does P mean on a map?
It is a ............................... Parking place
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 a post dated check illegal in Florida?
I worked in banking for years, and never heard of post dated checks being illegal.
