Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Can I lodge a post dated cheque?

Options
  • 12-12-2013 11:04pm
    #1
    MJ23
    Closed Accounts Posts: 3,039 ✭✭✭


    I have a cheque, dated 21st december. Can I lodge this tomorrow?


Comments

  • Options
    #2
    Nervous Wreck
    Closed Accounts Posts: 16,115 ✭✭✭✭Nervous Wreck


    Depends on the bank; some of them don't pay attention to the post-date tbh.


  • Options
    #3
    SpaceTime
    Closed Accounts Posts: 9,088 ✭✭✭SpaceTime


    Be careful, post dated cheques are a little bit of a grey area!

    There's a very strong possibility that if you bank the cheque it might be processed immediately or if the bank spots the date they might even return it unpaid (bounced).

    So, either way you could be creating a major headache for yourself and the person who wrote the cheque and the bank!

    They don't have any facility to hold it until the specified date.

    In general, post dating cheques is not a very good idea. You're better off just not sending them until they're required.

    AFAIK, it's actually a breech of the T&Cs of using a cheque book too. So, the bank may react quite weirdly to it.


  • Options
    #4
    Maggie 2
    Closed Accounts Posts: 211 ✭✭Maggie 2


    Once the cheque is in your posession, the date is irrelevant. Lodge it.


  • Options
    #5
    smcgiff
    Closed Accounts Posts: 5,943 ✭✭✭smcgiff


    It will almost certainly be spotted and refused by the bank.

    In the unlikely event it is lodged to the account it is unlikely that funds will be available to meet the cheque. The Payer post dated it for a reason.

    Finally, assuming the bank miss it and there's funds in the account to meet it the Payer is entitled to say WTF give me my money back and the bank will have to refund it.

    TL/Dr Don't do it.


  • Options
    #6
    SpaceTime
    Closed Accounts Posts: 9,088 ✭✭✭SpaceTime


    If you've agreed not to lodge it until the date, you're probably going to end up with a bounced cheque as the person may not have funds until then.

    I'd just hold off and lodge on 21st as per the date on the cheque.

    If you're away, just put into a quick lodge envelope and leave it for someone else to drop into the bank?

    If the bank spots the date, you may discover the cheque's posted back to you and may even be stamped 'refer to drawer' as the information n the cheque is invalid, in which case you might even need to get a new cheque!


  • Advertisement
  • Options
    #7
    smcgiff
    Closed Accounts Posts: 5,943 ✭✭✭smcgiff


    Maggie 2 wrote: »
    Once the cheque is in your posession, the date is irrelevant. Lodge it.


    Mork calling Maggie, come in Maggie.


  • Options
    #8
    MJ23
    Closed Accounts Posts: 3,039 ✭✭✭MJ23


    It's a Danske bank cheque, going to lodge it in AIB. Maybe I'll wait til after the date, just to be sure.


  • Options
    #9
    Nervous Wreck
    Closed Accounts Posts: 16,115 ✭✭✭✭Nervous Wreck


    smcgiff wrote: »
    It will almost certainly be spotted and refused by the bank.

    In the unlikely event it is lodged to the account it is unlikely that funds will be available to meet the cheque. The Payer post dated it for a reason.

    Finally, assuming the bank miss it and there's funds in the account to meet it the Payer is entitled to say WTF give me my money back and the bank will have to refund it.

    TL/Dr Don't do it.

    This is untrue. A quick google search for BOI's T&Cs last year shows that they will honour a post-dated cheque whenever they want and the person who wrote the cheque has no right to get it returned: http://personalbanking.bankofireland.com/fs/doc/wysiwyg/terms-conditions-130513.pdf


  • Options
    #10
    smcgiff
    Closed Accounts Posts: 5,943 ✭✭✭smcgiff


    For those of us not going to read 11 pages of T&Cs can you point out the relevant section. It's probably there alright, being there to protect the bank just in case a teller allows a post dated cheque to be lodged by accident. You're probably right that the Payer would not be automatically entitled to a refund as you are NOT supposed to write post dated cheques.

    However, that's moot as any teller worth their salt will spot and refuse a PD cheque.

    The OP is almost certainly in for a wasted journey if they try to lodge a PD cheque.


  • Options
    #11
    P. Breathnach
    Registered Users Posts: 12,089 ✭✭✭✭P. Breathnach


    Let's go back to basics: if it's post dated, it's not a cheque because a cheque is, by legal definition, payable on demand.

    It is, however, a valid financial instrument: it's a bill of exchange. Once the date on it is reached, it is practically and legally indistinguishable from a cheque.

    If OP lodges it AIB and they fail to notice the date, AIB can expect to be kept waiting by Danske Bank until the payment date. So the transaction will not clear and OP will have to wait until after 21st to spend the money.

    BOI's Terms and Conditions are a bit dodgy (the relevant section is 7.2). I think they are attempting to shelter behind the provisions of the Cheques Act, 1959 url]http://www.irishstatutebook.ie/1959/en/act/pub/0019/print.html[/url. I don't think the Act affords them that protection.


  • Advertisement
  • Options
    #12
    Nervous Wreck
    Closed Accounts Posts: 16,115 ✭✭✭✭Nervous Wreck


    smcgiff wrote: »
    For those of us not going to read 11 pages of T&Cs can you point out the relevant section.

    Top of page 6, item 7.1.


  • Options
    #13
    Graciefacey
    Registered Users Posts: 498 ✭✭Graciefacey


    Any teller will spot this and will not process. It will be returned by the paying bank. It was post dated for a reason, now if it was an error ie meant to be 12/12/13 you can get the drawer to change and initial the amendment. Hope this helps :)


  • Options
    #14
    Greenmachine
    Registered Users Posts: 5,063 ✭✭✭Greenmachine


    Agree with what others have said it was post dated for a reason. I would think the payee will not have the funds in their account to clear it till the date in question or perhaps a later date. It will likely not clear until after christmas.


  • Options
    #15
    unclebill98
    Registered Users Posts: 3,816 ✭✭✭unclebill98


    It will either

    Not be accepted for lodgement
    Be accepted and returned unpaid by the other bank at a later stage
    Be accepted by both banks but returned at a later stage when the person whom wrote it notices

    As mentioned post dating a chq is a grey area but it will be returned to you at some stage.


Advertisement