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John Burnett. When is a check considered stale dated and what if the bank pays the item after that time period? Filed under:. Filed under operations as:. Report a problem with this page. I waited a week before depositing the check, because I usually do all my banking on Saturday mornings with my regular errands.
The Friday night before I planned to go to the bank, he calls me in a panic. I requested a new checkbook register from the teller at my bank. Imagine working at a bank and not knowing what a checkbook register is! Some people, like me, like to keep their account balance up to date. It helps us to know what is actually in there and what is not. We have bills to pay and other things to do with our money besides waiting for someone to take their time in taking the money we have given them out.
Yes, deposit it already. Especially while the money is still in there. Why are … Read more ». I tutor a lot, and a lot of people pay me in checks. You are absolutely correct period after 6 months they do not have to cash the check. Add Uncle Leo and hilarity ensues. I agree with xysea on people rushing you to the bank. You should always give someone at least a couple weeks to get your check deposited.
What frustrates me is the guy who waits four or five months. All of a sudden one day a mysterious debit appears for something you paid for long ago. All … Read more ». My friends and I seem to have a different mentaility then our parents when it comes to checks. Instead of having to write the check which we had to pay for, somehow and then give it to them and then they go to the bank, we do everything with paypal.
This includes roommate stuff too:rent, utilities, etc. My main concern over an uncashed check is the possibility that it could be lost and used fraudulently. As far as accounting is concerned, once I write a check, I consider the money gone and, yes, get annoyed when I see it sitting in my bank account!
When someone to whom you have written a check deposits it, their bank will look at the check and encode it with the amount. At the time of deposit, some banks might put an additional hold on a check that is stale-dated and technically they have a right to refuse it, but most banks will just process old checks the same way as they would new ones.
Once the first bank accepts the check and encodes it with the amount, everything is done by computer and no one at your bank will even look at the check unless the check … Read more ».
Maybe someone here can clear something up for me regarding post dated cheques? I remember hearing many years ago on a television show that although most companies would hold a cheque if it was post dated this was in the days before internet bill payment that the cheque was technically cashable as soon as it was signed, regardless of whether the date is in the future or not.
The whole point of the interview was to discourage people from using post dated cheques because of this possibility. Just a couple of years ago I had a big argument with a … Read more ». The judge ruled that my friend was obligated to pay the babysitter for … Read more ».
I can never understand why people in the states pay for groceries or gas with checks. There are debit cards, credit cards and cash. Very few places here in canada even accept checks. I think those places probably accept chickens and animal pelts for payment as well. In other words, yes, a check is cashable as soon as it is signed. Postdating means nothing. Bryce Ha! Love the animal pelt comment.
I think checks are largely a generational thing. I know many older people use them a lot even today. But I know many younger people who have never written a single one. I use both. I am completely unable to relate to this woman. A few weeks? Is she crazy?? I rarely 3x a year, maybe have a reason to go to the bank. So I routinely hold checks until I have enough of them to warrant the 20 minute drive across town.
Why would I do otherwise?? In Aus I believe a cheque is valid for 13 months from the date on it — in part for at the start of the year when you forget to change the year when dating it. Although most places refuse to take personal cheques at all and … Read more ». The UCC is a uniform recommendation from a private organization to every state legislature on how its commerical code should look. Likewise, the courts of any particular state may … Read more ».
They have recently started an awesome feature, in which you can simply scan any checks you get and they will automatically process them. I have three checks that are outstanding.
The third has been outstanding for about a year now. One of the checks was written out to a company that I was working for at the time. The second check was for a magazine subscription, and I believe that it had the misfortune of being in one of the confiscated shipments of mail during the Anthrax scare.
The third check was given to a slightly flaky … Read more ». Thanks, Jon, for the clarification. I admit that I know nothing about the Uniform Commercial Code, and tried to be very careful when writing about it. Obviously, not careful enough. Poor communication on my part, coupled with a lack of understanding. Fortunately, never had one bounce. An employer did once bounce a paycheck for my coworker. Small business. Fortunately, he followed up and deposited more money then reissued her paycheck.
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