Should i accept a post dated check

Visit our Covid articles for the latest information. Can the bank pay a post-dated check before the check's date? Displaying information for [ change ]. Question I wrote a post-dated check to cover an IOU. Last revised. Learn more. Frozen bank account basics. How much can a currency exchange charge to cash checks? What happens if my bad check causes a check to bounce? Legal Comment. Your feedback is the best way for us to improve our services.

Yes, from an online savings or brokerage account. TIAA Bank. Talk to the recipient. Tell the person receiving your check — your landlord, a merchant, a friend or family member — about your situation.

Find out if he or she will accept payment later. Schedule an electronic transfer, such as an online bill payment. This is a much more precise way to make future payments, and you won't risk sending money before you're ready. Request a stop payment. Your bank provides this service, usually for a steep fee , but you must give it notice. The amount of notice depends on your bank. It's risky to rely on postdating or processing delays to ensure your check clears. Financial institutions now send digital pictures of checks to other financial institutions, so they can be cashed more quickly.

Is it illegal to postdate a check? A savings account is a place where you can store money securely while earning interest. Learn More. LendingClub High-Yield Savings. APY 0. Discover Bank Online Savings. Cash management accounts are typically offered by non-bank financial institutions. Wealthfront Cash Account. CDs certificate of deposit are a type of savings account with a fixed rate and term, and usually have higher interest rates than regular savings accounts.

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Table of Contents. Definition and Examples of a Postdated Check. How Does a Postdated Check Work? Alternatives to Postdated Checks. By Justin Pritchard. Justin Pritchard, CFP, is a fee-only advisor and an expert on personal finance. He covers banking, loans, investing, mortgages, and more for The Balance.

He has an MBA from the University of Colorado, and has worked for credit unions and large financial firms, in addition to writing about personal finance for more than two decades. Learn about our editorial policies.

Reviewed by Michael J Boyle. Michael Boyle is an experienced financial professional with more than 10 years working with financial planning, derivatives, equities, fixed income, project management, and analytics.

Learn about our Financial Review Board. You may have to pay a fee for this service, as well. Key Takeaways Postdated checks are checks written with a future date. Postdated checks can usually be cashed or deposited at any time unless the person who wrote the check specifically told their bank not to honor the check until a certain date.

Rather than writing a postdated check, it may be better to use online payment services or coordinate with your biller to move back the due date.

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