What is the post -dated check?

Postatized check is a check that has the date it can be paid in the future. People can use post-data checks for various service providers. They are usually not accepted by companies, credit card companies, retailers or landlords/mortgage companies. One of their main uses in modern financial transactions is Payday Loan Companies, which may require customers a post-dated check that repays a loan for a specified date corresponding to the next paycheck.

It is very important to understand these and outs of these controls, because in many countries it is not a guarantee that the inspection will not be paid before. Banks in the US and Great Britain honor these checks earlier than their data, although US banks may have to respect the date if the customer has informed the bank that he wrote a post -drawn check. What does it mean for a person who wants a check date is that he has to trigger some standardEmce that the check will not be deposited until the agreed time. If this warranty is not credible, consumers may want to consider checking the check until it is safe to save it.

There are also risks in receiving post -administered control. The person could close the account, withdraw all the funds, or simply do not have enough money to cover the check on their specified date. Of course, a confirmation that money is not currently available for paying funds for a check may be a person who writes, either honest or unreliable. These checks are not always a risky proposal and may be an attempt to quickly pay someone.

The contrast to the post -driving control is the Antpedated check: A check written at present, which is sometimes dated in the past. Sometimes tenants Atedate check a few days when they sent late payment of rent.About at the time that the bank will not honor the check. Many banks will only honor controls written less than six months ago until a year ago. If there are concerns at this point, check receivers could ask the authors to update the date and initial change.