Post dating cheques canada
Just a day or two after I mailed the check, it was cashed – a full two weeks before the check was dated.The check emptied my checking account, and since I had set up overdraft protection, it withdrew the rest of the funds from a savings account.
If the person who wrote the check has provided reasonable notice of postdating to their bank, however, you will not be able to cash the check early. It’s a common misconception that postdating your check will ensure that the money stays in your account until the date on the check, but this isn’t necessarily the case.
Make sure to keep your chequebook in a safe place, and never pre-fill or pre-sign cheques.
When accepting a cheque, make sure the person paying you has filled all necessary fields correctly and has signed it.
Luckily, I avoided overdraft fees, but this situation was still quite worrying. What if this created an overdraft and I had to pay expensive fees?
Once you sign a check, it can legally be cashed – regardless of the date you wrote on it – by the payee.