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Luckily for them, Foster waits to cash postdated checks, but he isn’t legally obligated. Banks and credit unions generally state rules about postdated checks in their account disclosures.
Some of the biggest banks, for example, note specifically that they can honor checks that are made out for future dates.
In many instances, paydays fall on the same day each month, and many employers use the 15th and the last day of the month as paydays.
However, if payday falls on a weekend or federal holiday, your state laws may require your employer to give you a paycheck before the normal payday.
You may have to wait to cash the check until after payday since your payday falls on a day when banks are closed.
In such an instance, your employer did not post date the check for a date after payday, but you could not cash your check until after payday.
If you write a check and don’t have enough money in your account when it’s cashed — whether or not it’s postdated — your bank can cover the payment or let the check bounce based on its overdraft practices.
If the check goes through, you’ll pay an overdraft fee.
With that, it s quite possible that Sandra Bullock may be dating Evans again in the future.“In short,” says Mathew Dahlberg, a financial advisor at Main Street Investments in Kansas City, Missouri, “if you don’t have the money in your checking account, then don’t write the check! ” Spencer Tierney is a staff writer at Nerd Wallet, a personal finance website. He receives checks from some renters on the 28th or 29th of the month that are dated for the first of the next month.He suspects his tenants do this to keep him from cashing their rent checks before they’ve been paid, so their rent checks don’t bounce.