Cheque dates

HarshOstrich

I have a cheque that is dated for this Friday ,would a bank accept it now to lodge it into my account or should I wait until Friday .

Nervous Wreck

Nah, most of them will accept it.

P. Breathnach

Wait until Friday: it's not valid until then. Strictly speaking, if it's postdated, it's not a cheque at all: it's a Bill of Exchange (still a valid financial instrument).

I don't know if the OCR on machines is configured to read the date on a cheque, but even if you do manage to smuggle it in, they can come back at you and give you a hard time - most likely in the form of a penal fee for an irregular item, and if you draw on the funds before the date is noticed, you might run into another fee for unauthorised overdraft.

Fred Swanson

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amdublin

But likely there is a reason for bit and no cash in the account until Friday. Best wait until then imo.

Fred Swanson

Fred Swanson wrote: »

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May be. But I had one returned as recent as June this year that was dated in advance.

Toots

Fred Swanson wrote: »

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But if the cheque was post-dated for Friday, it'd be reasonable to assume that the drawer may not be in a position to pay it until then ie may not have the funds yet. If it bounces the payee will be charged a fee also.

kazamo

When we were in the midst of our Celtic Tiger I remember one bank putting an advert in the paper stating that post dated or out of date cheques are not always spotted and if they go through they were no longer responsible for the consequences re overdrafts etc.

Anyone giving a post dated cheque runs the risk of it being presented before the due date and most likely will.