I deposited a post dated check will my bank credit my acount now or wait until the date posted on the check?

Answer 1

You are about to find out. Won't be long -either way.

Answer 2

Depositing Post Dated Checks

Answer 3

It is not illegal to post date a check. What is illegal is to write a check when you know there are insufficient funds in the account. Banks are not obligated to withhold the funds with a post dated check. The responsibility is up the recipient to not cash the check until the date on the check. If I write you a check dated December 15 but you cash it today [December 02] the bank may very well release the funds and I may end up with insufficient funds for other expenses. The check could also bounce or create penalties if my account goes into over draft status. Bottom line: In most areas, it is legal to post date a check. it is the responsibility of the person to whom the check is made out to, to make sure it is not cashed before the date on the check, not the bank's. I'm glad you asked this question. I was not aware that this could happen.

Answer 4

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RE:
I deposited a post dated check will my bank credit my acount now or wait until the date posted on the check?

Answer 5

All the above mentioned answers are incorrect, a post dated check is made for the sole reason that the payer does not have enough amount in the bank to cover the check, if you deposit the check now your bank will send it to the payers bank on the date mentioned and your account will be credited once the check has been cleared. If for some reason the enough funds are not available it will be considered as a hot check and you will be eligible to take the matter to law.
On a check date is very important, when a post dated check is written it has clear instruction to accept it on the date mentioned.

Answer 6

If the bank is thorough (which most are not), they will look at the date and return the check to you. You will be charged a fee.

If the bank is not thorough, they will process the check as normal. If the check bounces, you will be charged a fee and the person who wrote you the check will get mad because now you screwed up their accounting.

You don't deposit a check until the date that's written on the check.

Answer 7

The check you deposited is worthless until the date on the check. In some States it is against the law to write a post dated check and certainly no business will accept one. It may be treated as a bad sheck.

Answer 8

The bank isn't entitlted to the money on a post-dated cheque, so you aren't either. If someone at the bank catches it, it will be returned to you as non-negotiable. It is up to you to hold onto a post-dated cheque, not the bank. There is nothing illegal about a post-dated cheque by the way. As long as the vendor/merchant is willing to hold on to it. A bank does not have to, and it may be against the law to deposit the post-dated cheque, but the cheqe itself is not illegal. We have, at any given time, up to 100 post-dated cheques in our office. They are for time payments, or for renewals of policies done in advance. Since they are in our system, not the banking system, no banking rules or laws apply until such time as we pull them for deposit. The person who answered that the writer of a post-dated cheque doesn't have the money is out to lunch without a napkin. We have anywhere from $30,000 to $70,000 worth of post-dated cheques in our office at any given time. If your bill is due on Dec 1, and you are going to be away at that time, or just don't want to make another trip, you leave a post-date with us, and the computer calls for it on the due date. We have been doing it for many years, and are part of a network of 350 offices, every one of which does the same thing. It is just like you leaving post-date cheques with your landlord for a year at a time. There is one constant: the holder of the cheque is not entitled to the money until the date on the cheque.

Answer 9

Legally, there is no such thing as a post dated check. A bank or vendor for who the chec was wriiten out to can be courteous and wait to deosit or cash until the date, however a check legally can not be post dated.

Answer 10

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Banks don't pay attention to the dates, as it is supposed to be illegal to postdate a check. When a bank gets a check, it''s processed right then. I've had this happen to me and I was able to get the business that I gave the check to, to bay all the late/overdraw fees....and in addition, they sent me a restaurant gift card as a means of apology. Papaw

Answer 11

Post dating checks is no longer legal. The UCC changed the rules requiring banks to honor post dates because no human ever looks at checks. Once it hits the banking system it is just encoded numbers.