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.
Not a written agreement: Just because it's legal doesn't mean things will work out the way you intended: The date that you choose to use is not part of a legally binding agreement between you and the person you wrote the check to.
In most cases, the recipient can deposit the check at any time.
For instance, if you write a check on June 1 but date the check June 25, you are postdating the check.
If you won’t have the funds available at the time the check is written, you might consider postdating the check.
If you’re going to write a postdated check (or receive one), here are some things you should know!
Unfortunately, the fact is that there’s generally no actual obligation to honor the date on a check.In notice about a postdated check before the check is received, then the notice is valid for up to six months.Because I make most payments (like my mortgage) online, it’s not too often that I bust out the checkbook.I can tell you generically that closing this account will not help your score.A postdated check offers the promise of controlling the uncontrollable: As time marches forward, you may wonder what the date on a check really does.