The final Sunday of the NFL regular season is always an exciting one. Division titles are at stake and the final playoff spots are set to be clinched, as the changing of channels will be a must in order to watch the games of utmost importance. Taxpayers living in Maine or Massachusetts have until April 17, 2024, due to the Patriot’s Day and Emancipation Day holidays.
You could, however, end up with overdraft or returned item fees if the check bounces because their paycheck wasn’t deposited on time. For instance, someone with a car loan can schedule postdated payments to be transferred electronically from their account to the lender. However, postdating a check can lead to inconveniences and ill feelings for the payee, such as when a tenant sends a rent check and may or may not have the funds ready to be withdrawn. You can also give a standing instruction to the bank to make payment to any account at your desired date.
What is a Post-Dated Cheque – Validity, Legal Implications and Working
In most cases, when you receive a postdated check, you can deposit or cash a postdated check at any time. Debt collectors may be prohibited from processing a check before the date on the check, but most individuals are free to take postdated checks to the bank immediately. That said, if you agreed to wait, cashing the check prematurely might be considered in violation of an oral agreement, and that could be illegal in some jurisdictions. Since a time lag exists between when a person writes a postdated check and when a banker cashes it, sensitive information can remain exposed and vulnerable for days, weeks, or even a month. Identity theft occurs when someone obtains personal or financial information of another person in order to assume that person’s identity to make transactions or purchases. Keep in mind, though, that banks and credit unions can cash postdated instruments early.
- If you have the option, it is best to avoid writing postdated checks.
- If the Packers, Buccaneers, Saints, or Seahawks win — the Vikings are eliminated.
- If any disputes arise due to a post-dated cheque, the court will reject a post-dated cheque not duly filled by the issuer.
- Postdated payments cannot be withdrawn from an account until the date specified.
- To add further risk, payday loans can be rolled over for additional finance charges.
This will not cost you in terms of additional charges that a bank may charge you but a loss of credibility and relationship that has been built so far. To define post-dated cheque, it is a form of a cheque drawn with a future date written on it. To simply put, post-dated cheque is one which is drawn with a date which is after the date on which cheque was written. With pre-authorized debit, the beneficiary schedules regular withdrawals directly from your bank account. In commercial transactions, banks are also given the right to process a check to the extent it is valid and correctly written.
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The three months are not counted in the number of days, but the date of issuance. For example, if the cheque was issued or is payable on 01 Jan 2021, the cheque will be valid till payroll tax payments and filings with wave 31st of Mar 2021, irrespective of the number of days in between. Postdated checks are normal checks, but the person writing the check chooses to write a later date on it.
Risks of Postdating
If you write a check and don’t have enough money in your account when it’s cashed — whether or not it’s postdated — your bank can cover the payment or let the check bounce based on its overdraft policy. If it doesn’t go through, the recipient might charge you late fees and a bounced-check fee. Banks and credit unions generally state rules about postdated checks in their account disclosures.
Is it illegal to postdate a check?
You must ensure you arrange the required funds before the post-dated cheque validity expires. However, it is illegal to write a check when you know you don’t have the funds to cover it, even if you hope to have the funds later. It is also illegal to pretend to pay someone without actually intending to do so. The Dolphins have a playoff berth clinched, but will clinch the AFC East — and the No. 2 seed — with a win. A Bills victory gives them the No. 2 seed in the AFC, but there are other scenarios at play if the Bills do lose. Buffalo clinches a playoff spot with a Jacksonville loss thanks to Pittsburgh beating Baltimore.
Eagles at Giants, 4:25 p.m. (ET), CBS, Paramount+
This way, your friend will not be able to cash the check at the bank on any day that is prior to the date marked on the check. Working with an adviser may come with potential downsides such as payment of fees (which will reduce returns). There are no guarantees that working with an adviser will yield positive returns. The existence of a fiduciary duty does not prevent the rise of potential conflicts of interest. Where a demand for payment of a cheque is made before the date of the cheque arrives, the cheque shall not, by reason of the demand, be taken to have been duly presented for payment. In banking, a post-dated cheque is a cheque written by the drawer (payer) for a date in the future.
They are the No. 3 seed with a loss or if the Cowboys or Eagles win. The Vikings are still alive in the race for the final playoff spot, but barely. Minnesota needs a win over Detroit in Week 18 and plenty of help to get into the playoffs. The Vikings get in with a win, Seahawks loss, Packers loss and a loss by either the Saints or Buccaneers.