to pay with a postdated check, and businesses are allowed to reject those payments because you haven’t really made a free-and-clear payment.
If you plan to write a postdated check, ask for permission before doing so.
You can land in legal trouble if you intentionally postdate a check knowing there will be no money in your account or the account will be closed by the check's date.
To defraud someone in such a way for goods and services is illegal in all states.
In most cases, you can deposit or cash a postdated check early.
Debt collectors and other businesses 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.
State and federal laws cover the cashing and depositing of postdated checks, and laws vary from state to state.
A postdated check offers the promise of controlling the uncontrollable: As time marches forward, you may wonder what the date on a check really does.
Often, bank tellers don't even look at the date while handling checks.
While it's best to avoid postdating checks so you don't run the risk of getting hit with bounced check fees, you can contact the bank with a written or verbal request to hold the check until the future date.
If your payment is rejected, you might be unable to buy a product or service that you wanted, you might have to pay late-payment fees, or there might be other consequences.
For example, the IRS generally doesn’t accept postdated checks, so you may face tax penalties and interest if your payment fails.