Postdating a check may be considered illegal if the check writers account does not have the necessary funds to deposit the check, and if the writers intent was to defraud at the time of issuing the check.

Is it illegal to accept post dated checks?

Post-dated checks are perfectly legal. Post-dated checks are a risky form of do-it-yourself credit. The main reason the law lets banks cash post-dated checks is that its too hard to look at checks for their date. Processing 45,000,000 checks a day is tough enough, without looking at dates.

What happens if someone tries to cash a post dated check?

If a bank does pay a postdated check before the checks date even though it has received proper notice from the customer, the bank is liable to the customer for any loss resulting from the bank prematurely paying the check.

Is it legal to cash a postdated check early?

A person or a merchant cant cash a post-dated cheque before a certain date. If your financial institution cashes a post-dated cheque early, try to resolve this with your branch. Ask your financial institution to put the money back into your account. You must make the request before the due date on the cheque.

What if a check is not dated?

No Date. There isnt anything in the Uniform Commercial Code saying a check has to be dated. If you receive an undated check you can fill in the date yourself. You can then cash it or deposit it as long as the check writer signed it and properly filled out the amount and the payee line.

Is post dated one word?

verb (used with object), post·dat·ed, post·dat·ing. to date (a check, invoice, letter, document) with a date later than the actual date. to follow in time: His recognition as an artist postdated his death.

What is the opposite of post dated?

What is the opposite of postdated?retroactivebackdatedretrospectiveex post facto