Post dating payroll checks
Supposedly the check was written on Oct 26 and I got it in the mail just today and it is post dated for tomorrow. Employees who get paperchecks mailed will have the paydate on them, not the issue date.
It's illegal to issue a check if you do not have the funds available to back it (bad check law).While there's probably not one single rule, I've had a case where depositing a check failed (through my phone) because I deposited it a day before the date written on it (and it failed because of that).So they do have the ability to OCR the date - whether all of them do it or not is another [email protected] Banking is a regulated industry. This is a personal finance site, for you to ask about your finances, and presumably you bank in one country.In Brazil, the drawer may seek damages in Justice if their cheque is cashed in before its due date, according to the jurisprudential orientation of the Superior Court of Justice, as per Summary No. Under the clearing rules of the Canadian Payments Association, a post-dated cheque cannot be cashed prior to the date written on it. However all the court rulings missed looking into relevant sections of law.If a Canadian financial institution inadvertently accepts and processes a cheque before the due date, the cheque writer may ask his or her financial institution to return the amount until the day before the cheque should have been cashed. Section 68 of Indian Stamp Act declares that a person who draws a post dated cheque and the person who presents a post dated cheque for payment will be liable to be fined Rs. The definition of a cheque in Negotiable instrument act as well as in Negotiable Instruments Act is - that a cheque is always made payable on demand.