Is post dating checks legal isabelle mercier dating
The main reason the law lets banks cash post-dated checks is that it’s too hard to look at checks for their date.Processing 45,000,000 checks a day is tough enough, without looking at dates.Are we in jeopardy of a change in our credit score, which is in the 800 range?We've always paid the total balance due each month. 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. The bank can cash it unless it believes the check won't clear or is fraudulent.
The only way you can spare yourself from having the check cashed early is by notifying the bank in advance. Questions can be answered only through this column.
But that might be hard to prove, and the amount involved—the bounced check fees—probably aren’t enough to sue over. If they weren’t, “pay day” lenders, and other crude forms of credit, couldn’t exist.
Only “properly payable” checks are supposed to be cashed by banks.
14-107, it’s a Class 2 misdemeanor to write a check, “knowing at the time .
that [the check-writer doesn’t have] sufficient funds on deposit . My mechanic dutifully waits until Monday to cash the check, but it still bounces.
Sometimes the question arises whether post-dated checks are covered by the statute.