Question: Is post-dated cheque safe?

Are post dated Cheques safe?

Using a post-dated cheque (PDC) as a security for repayment of a loan is a common practice among lenders and financial institutions. The court held that if on the date of the cheque, the liability or debt exists or the amount has become legally recoverable, section 138 is attracted and not otherwise.

Is post-dated check considered cash?

A postdated check—a check with a date that is later than the current date—is not considered to be currency. Further, the postdated check should not be reported as part of the Cash account balance until the date of the check.

Can I cash my post dated stimulus check?

Yes. Banks and credit unions generally dont have to wait until the date you put on a check to cash it. However, state law may require the bank or credit union to wait to cash the check if you give it reasonable notice. Contact your bank or credit union to learn what its policies are.

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