Essentially, I don’t see any point in post-dating a check — it is valid from the moment that I sign it.
Then, I spoke with a friend who happens to be a Chase banker, who generalized what a teller would do if a customer came in to deposit or cash a post-dated check before the date shown.
All cheques must be processed – or cleared and settled – through the payments system. When you deposit a cheque into your account, your bank will send the cheque to the bank of the person who wrote the cheque.
That bank makes sure that the cheque is legitimate and there are enough funds in the cheque-writer’s account to cover the cheque, and then sends the funds to your bank.
Additionally, at the bank’s discretion, there could be a hold on the funds until the check clears.
Because I make most payments (like my mortgage) online, it’s not too often that I bust out the checkbook.
It causes inconvenience to all parties - drawer, drawee and payee.
This is to avoid any incidence of returned cheque due to insufficient funds and the resulting penalty charges.This process can take a few days but, for most cheques, the bank makes the funds available to the customer right away.However, it isn’t until your bank gets confirmation from the cheque-writer’s bank that it knows for sure that the funds are available.One recent, noteworthy topic had to do with post-dated checks and what happens to them when you attempt to deposit or cash the checks before the date written on them. If I were to post-date a check, it would probably be because I don’t yet have enough funds in my account to cover the check amount.Curious as to what happens when I defy the concept of post-dating, I checked with banks to their rules on the matter. However, I do expect to have those funds by the date written on the check.For instance, if you write a check on June 1 but date the check June 25, you are postdating the check.