Post dating cheques in australia

16 Apr

The Royal bank charged me .00 because it was NSF .So what is the true law regarding post dated cheques and why should i pay a penalty if it is cashed before the date on the cheque???To that end, it would be absolutely lovely if there were a statute of United States law that rendered the mere writing of a post-dated check an illegal act, thus allowing me to play this trump card in each of these situations.If someone could supply me with such a statute, I would be most greatly obliged. If, on the other hand, post-dated checks are not illegal but merely irrelevant, please inform me of that as well.Take the check back to the bank and point out that it was post dated, they might be nice and return your money, but I doubt it.

It causes inconvenience to all parties - drawer, drawee and payee.

Writing a post dated check in Pennsylvania is perfectly legal as long as the person to whom you give the check does not submit it for cashing before the date you put on your check.

For that matter, it is not illegal to write a post dated check in any country No.

What most people don’t realize is that, until it receives that confirmation, the bank is really advancing you the money.

Banks may apply a hold on funds deposited by cheque to manage the risk from losses in case there aren’t sufficient funds in the cheque-writer’s account to cover the cheque.