Bardic
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APACS say "Banks set their own policies on post-dated cheques and, in many cases, their account terms and conditions state that customers should not write them. If the recipient of a post-dated cheque attempts to pay it into their account prior to the date shown, it may either be returned unpaid, possibly incurring charges for both parties, or it may be cleared, creating problems for the customer who issued it."
The days when each cheque was scrutinised by the bank it was drawn on are long gone - I used to do this - as much is now done automatically.
I suspect that whoever you spoke to in the company didn't bother to tell whoever it is who opens the post and banks every cheque by reflex action, or perhaps they did and the message was ignored anyway . . . . |
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Jay974
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Many banks have it in their T&C's that "you must not write a future date on a cheque". It usually also says "you must only issue a cheque if there are sufficient available funds to cover this payment".
If you have bought something from them, you are legally bound to pay them. A cheque can be classed as a legal document/contract for payment.
Best to just learn from your mistake and don't post-date cheques |
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maurice b
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It is best not to give out post dated cheques as this kind of situation often happens, and it will end up costing you money |
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Flick
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In the UK a bank has NO OBLIGATION to honour the date on a post dated cheque.
Do not assume that just because you have post dated a cheque that the company you issued it to or the bank have any legal obligation to wait until that date.
I am sorry you suffered but it is largely a matter of trust. Never write a post dated cheque. You cannot trust people not to present it beforehand and sadly you have no comeback as nobody has broken the law. |
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Eddy T
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The company should only pay in your post dated cheque on the 18th and not earlier. If you had placed a stop on the cheque with the bank, you should issue them a fresh cheque, otherwise your debt with the company is not settled. |
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gill c
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There is no such thing as a post dated cheque in theory. If you issue a cheque the T&C 's of your bank will say you must have the funds to cover any cheque drawn on your account, if not then don't issue the cheque until you have. If a cheque is presented to a bank it will be considered as for processing that day, the date is irrelevent. |
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JimmyBu
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1.They should not present the cheque until the date on it
2. the bank should not have accepted it
3. send both of them a bill for your inconvenience. |
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MJ
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In Australia it is the banks fault for processing the cheque before the correct date. |
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Scouse
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I think the real lesson is that post dated cheques are unwise.
The banks do not now manually process cheques and therefore the date is not read unless it is noticed by chance.
I think the three of you are at fault.
1. You for giving a post dated cheque
2. The company for processing it early
3. The bank for not noticing it
The first two are the most at fault in that order. Not the answer you want but there you go. |
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Michael A
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Giving or Accepting post dated cheques are a way of confirming that payments will be made as and when agreed.
Your bank is very wrong to have paid a post dated cheque. By law, the bank is at loss to the amount on the cheque. You must contact the bank immediately and claim refund of your money. Alternatively, please report them to your Central Bank or take them to court for exemplary damages.
The company who paid in your post dated cheque before the due date are very dishonest people. They are not worth doing business with. What they have done is as good as stealing your money. Please report them to the police.
Central Bank of Nigeria guidelines and Governor does not take kindly to fraudulent activities involving commercial banks/fraudulent companies.
If such a thing happens in Nigeria, the bank and the company are in very serious trouble unless the matter is resolved without the knowledge of the CBN. |
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insane_mad_maniak
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the bank is to blaim, banks dont check cheques as well as you might think, there very insecure. |
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Art Vandelay
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Your bank is in the wrong for cashing the cheque before the date. |
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JoelKatz
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Note: My answer assumes you are in the United States.
You are in the wrong, and I'm afraid you broke the law. It is illegal to give someone a check knowing that your bank will refuse to honor it. It seems that you expected your bank to dishonor the check, either because it was post dated or because you didn't have the money to cover it. Either way, you knowingly passed a bad check.
The bank is not obligated to refuse a post-dated check. A check is an unconditional offer of funds, you cannot make it conditional and expect the bank to honor that. The law was different in the past but has been this way since 2000 (or earlier depending on your location).
If you got your checking account after the year 2000, you almost certainly signed a notice to that effect. It was in the terms and conditions. (Not that most people read them, and you probably didn't.)
Sorry. I'm sure you had the best of intentions. For example, if your insurance payment is due on the 19th, today is the 12th, and you will have the money on the 18th, how else can you get your payment in on time without risking an overdraw? The answer is that you basically can't. |
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Wamibo
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Banks will not process a post dated cheque so it should have been returned and your bank charge you for presenting it. The company are at fault for putting it in before the date on it whether this was due to their mistake in not spotting the date or a deliberate ploy to get it through before you could stop it, but you are likely to bear the cost of their mistakes. |
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