Start Is postdating a check illegal in virginia

Is postdating a check illegal in virginia

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On 15/01/2012, the cheque will be no longer a post-dated cheque, but becomes a current dated cheque.

A few weeks ago, however, I wrote a check and got a nasty surprise in my bank account.

After the initial period of panic, grief and anger toward the bank and the person who had cashed the check, I did some serious digging into the regulations surrounding postdated checks.

Since payment of a post-dated cheque, as per Section of the 10 of the Negotiable Instruemnts Act, 1881, is not a payment in due-course, many banks in India will not make payment of the cheque.

I have up to the 5th to pay my rent so sometimes I will post date my checks for the 3rd, 4th, etc, depending on my pay days. Banks will not cash a check if it is received today but it is postdated for the 5th.

( November / December /January / February / and March ) That way the company could cash the checksat the end of each month if I went somewhere warmer for the winter The date the check can be cashed .

For example I wrote ( 5 ) post dated checkslast winter to a company that handles my snow removal of my residence Each check was dated the last day of the month .

In India, a cheque should be presented for payment on or after the date that appears on the face of the cheque. A banker cannot a pay a post-dated cheque as he has no mandate to debit the account of the depositor earlier than the date of the cheque.