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If the payee attempts to cash the check before the date on this line and the check bounces, the person who wrote the check and the one who cashes it could face fees from their bank. 7. Signature Line
Post-dated cheques are common and enforceable. [9] In 1998, the Supreme Court ruled that a post-dated cheque is a bill of exchange and does not become payable on demand until the date written on the cheque A "post- dated cheque" is only a bill of exchange when it is written or drawn, it becomes a "cheque" when it is payable on demand.
Stale date. A check can bounce because “the check is considered ‘stale’ or ‘stale-dated,’ which refers to the check not being cashed within typically six months,” explains Jacob Dayan ...
Your bank’s routing number: The first set of numbers in the bottom left of your check is your bank’s American Banking Association, or ABA, routing number which tells banks where to find the ...
For example, a check from Wachovia Bank in Yardley, PA, has a fraction of 55-2/212 and a routing number of 021200025. The prefix (55) no longer has any relevance, but from the remainder of the fraction, the first 8 digits of the routing number (02120002) can be determined, and the check digit (the last digit, 5 in this example) can be ...
The cheque has expired, is cashed before the date on the cheque, or the date on the cheque is erroneous. There is a discrepancy in the amounts written in numbers and the amount in words. The cheque is scribbled or overwritten.
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In banking, antedated refers to cheques which have been written by the drawer, and dated at some point in the past. In the United States antedated cheques are described in the Uniform Commercial Code's Article 3, Section 113.