If the account does not have sufficient funds, the check might bounce, and you might have to pay insufficient funds or overdraft fees to your bank.You can try to get those fees reimbursed by the check writer, but collecting from somebody who’s already low on funds can be time-consuming and expensive (possibly requiring you to take legal action). at least) typically pay on postdated checks unless the checking account owner specifically instructed them not to beforehand.
If you really want to cash a postdated check for the full amount, take it to the bank that issued the check which is where the check writer has a checking account.
However, a rejected payment (or an unexpected withdrawal from your checking account) can cause numerous problems.
» MORE: How to write a check “It’s kind of a tricky scenario,” says Matt Foster, founder of the rental property search site i Rent and a landlord in Ventura, California.
He receives checks from some renters on the 28th or 29th of the month that are dated for the first of the next month.
All of these charge lower than average overdraft fees and offer free ways to avoid that fee while still paying your bills.
» MORE: How to cancel a check It’s risky to rely on postdating or processing delays to ensure your check clears.While there are differences among the states as to how bad checks are viewed (whether a misdemeanor or a felony) and the remedies available to holders of the bad check against the drawer, there are several general factors that run through the majority of state laws: In all states the maker of a check, who tenders a check knowing there is insufficient funds or credit behind the check may be guilty of a crime and may be subject to civil penalties.In the majority of states the crime is treated as a misdemeanor.He suspects his tenants do this to keep him from cashing their rent checks before they’ve been paid, so their rent checks don’t bounce.Luckily for them, Foster waits to cash postdated checks, but he isn’t legally obligated. Banks and credit unions generally state rules about postdated checks in their account disclosures.In states that make a distinction regarding a felony or misdemeanor, the amount of the check usually determines if the crime is a misdemeanor or a felony.