Post dating checks legal
The rent check of 5 cleared, but wiped out my balance, which was supposed to cover other checks and ATM withdrawals. The Answer: This is an important lesson for people, and a potentially expensive one for you: It doesn't matter what date is on a check -- it can still be cashed. She noted that such matters are governed by the Uniform Commercial Code, which concerns general business practices.
The checks usually aren't cashed until the first of the month and they clear my account on the second or third. Key and my landlord both said, "Too bad," and said postdating checks is illegal, anyway. There are no Federal Reserve regulations, which cover banking, that govern the payment of post-dated checks, said spokeswoman Anne Di Teodoro.
This means that the initial holder of postdated checks cannot use them until the date on the checks has come.
This is not necessarily true, however, as there are some banks that will actually accept postdated checks and will deposit funds into the check holder's account in exchange for the postdated checks, even before the date of the check's date has come.
A post-dated check is one which has a date after today's, so as not to be able to be cashed immediately.
I was at the bank and the rep told me that post dated checks were illegal and I could go to jail for that. I thought a check was a contract between me and the person I wrote it to.
I can tell you generically that closing this account will not help your score.
If you’re running a little short of cash before payday, yet you need to pay a bill, you may be tempted to solve the problem by writing your check, but dating it for after the day you get paid – when you know you’ll have money in the bank.
Many people post-date checks for everything from car payments to rent, and they think they’re safe because the bank can’t cash the check before the date written on it, right? If you try this ploy you could end up with an overdrawn checking account, an angry payee and a ding to your credit.
There’s nothing wrong with post-dating a check and asking the person you owe money to hold off on cashing it.