Managing your money
National June 21, - Before leaving for Florida with her husband Cathy Cooke wanted to make sure her bills were paid. She mailed the payments early, post-dating the checks for the due date, "Two of the checks were dated on March 30th, and one was dated on March 31st. And, I was very shocked to see them all processed on the same day, which was five days earlier.
Instead florida check, all the companies cashed the checks upon receipt. If not for her overdraft protection, the checks would have bounced.
Cathy says she even attached notes to each payment asking the companies to hold off, "They ignored my note, and they ignored the date on the checks. So, I was post upset. It turns out post-dating checks is a gray area of the law.
In most states it's not illegal to post-date a check as long as there's no intent to defraud. But, the merchant may cash the check upon receipt.
And, the bank may charge the upon receipt unless you notify the bank in advance that you want to delay processing. So, if you're going away on vacation or you need to schedule a payment for any other reason, here's what you need to know:.
Bottom line: post-dating datings, while not forbidden, in most cases is not the best idea. Cathy found out the hard way, "I think I'm just gonna pay my bills. I'm not even going to worry about dates. Consumer Alert: Post-dating checks.
Many companies do not accept post-dated checks. That's usually disclosed in the terms and conditions of the contract. You should notify the merchant that you'd like to schedule a payment.
And, you can often pay by phone or online from almost any location.