Post dating cheques law
Thanks to automated payments and online banking, many of us rarely (if ever) write checks, but millions of Americans still pull out their checkbooks every day to pay their bills.
In M.’s case, it appears it was indeed “at the bank’s discretion” to process the payment when it was received.
Consumer advocates who spoke with Consumerist say that while there are several reasons someone might think it’s a good idea to use a postdated check, it’s not generally recommended.
Pamela Banks, senior policy counsel for our colleges at Consumers Union, tells Consumerist that sending a postdated check can be an indicator to the recipient that the check-writer is in dire financial straits.
She says that many people who end up falling into predatory lending traps like payday loans have also used postdated checks to try to stave off debt collectors.
Instead, consumers could seek alternative measures such as a small-dollar loans from a credit union or community bank, inquire about a pay advance from their employer or work out a payment plan with the company or individual they are paying.