(Commercial Code § 4401) It is a violation of the Fair Debt Collection Practices Law for a debt collection agency or a creditor who regularly collects its debts to deposit a postdated check before its due date.
(f(4)) "The presentation of a postdated check is not subject to the civil or penal sanctions" that would normally apply to someone who wrote a check with insufficient funds because the postdated check promises "to discharge a present obligation at a future date" and that money would be available to meet the debt when the check is cashed.
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A Canadian bank, for example, is not supposed to process a post-dated cheque and if it does so by mistake, the cheque writer may ask their bank to correct the error.
In the United States and the UK, post-dated cheques are negotiable instruments and can be drawn upon at any time, while in India and Australia post-dated cheques are not payable until the date written on the cheque. (1) Where a cheque, or any indorsement of a cheque, is dated, the date shall, unless the contrary is proved, be presumed to be the day on which the cheque was drawn or the indorsement made, as the case may be.
The Uniform Commercial Code, a collection of business laws adopted or adapted by many states, gives financial institutions the right to process a correctly written check with a future date.
But you can ask your bank to delay cashing a specific check, and, depending on your state and the bank, it might comply.
The payee must give notice to the check writer at least three days, but not more than ten days, prior to depositing.
Whether a post-dated cheque may be cashed or deposited before the date written on it depends on the country.
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So you date the check a few days in advance — also called postdating it — hoping your paycheck will clear by then. Here’s what you need to know about postdating and what you can do instead.