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In notice about a postdated check before the check is received, then the notice is valid for up to six months.
Of course, even this preventative measure isn’t foolproof, as rules governing banks vary from state to state depending on the two types of notification given, the CFPB says.“[The dealer] would deposit the postdated check as stated, right? And because the bank processed the check before the date she’d written, M.’s account was overdrawn and she was hit with fees by her bank. to provide a postdated check, it also wasn’t illegal for the dealership to deposit the check or for the bank to take out the funds needed to cover that check, regardless of the date.That’s because once a check is signed it becomes legal tender, and, according to the Consumer Financial Protection Bureau, banks and credit unions can generally use their own discretion when deciding when to process a check – all without regard to the check’s printed date.Instead, consumers could seek alternative measures such as a small-dollar loans from a credit union or community bank, inquire about a pay advance from their employer or work out a payment plan with the company or individual they are paying.
In addition to understanding the risks and potential issues with providing a postdated check as payment, consumers should be cognizant that it is illegal to intentionally write a bad check.
Pamela Banks, senior policy counsel for our colleges at Consumers Union, tells Consumerist that sending a postdated check can be an indicator to the recipient that the check-writer is in dire financial straits.