Is postdating a
But they may be referring to the fact that you're not supposed to give someone a check that you know is not good at that moment. I'm working with the bank to see if they can't give you more of a break this one time. You will get burned, and you will be the one in the wrong.The Question: We've had a GM Master Card for 14 years and have purchased two cars with our "earnings," most recently in February. What can you tell us about the wisdom in closing this account?The Question: I recently sent in my rent check early, as I usually do, with the date on the check reading Sept. The check was cashed by my landlord at his bank (Dollar Bank), and my own bank (Key) on Aug. There would have been enough money in there by Sept. One section, Article 4, 4/401(c), says: "A bank may charge against the account of a customer a check that is otherwise properly payable from the account, even though payment was made before the date of the check, unless the customer has given notice [such as stop payment] to the bank of the postdating." As far as whether it's illegal to postdate a check, it's not. The rent check of 5 cleared, but wiped out my balance, which was supposed to cover other checks and ATM withdrawals. The Answer: This is an important lesson for people, and a potentially expensive one for you: It doesn't matter what date is on a check -- it can still be cashed. She noted that such matters are governed by the Uniform Commercial Code, which concerns general business practices.This is known as a post-dated cheque and it cannot be paid until that date arrives.' While this is a sound interpretation of Australian Commonwealth law, for insurance reasons the bank protects itself from possible attack with the condition (2014: Section 1.7.1 'Using your cheques '): 'You authorise us to pay a post-dated cheque (one which is dated with a date in the future) drawn on your account and presented for payment at any time before the date of the cheque arrives.' 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.
In the United States and the UK, post-dated cheques are negotiable instruments and can be drawn upon at any time, while in India and Australia post-dated cheques are not payable until the date written on the cheque. (1) Where a cheque, or any indorsement of a cheque, is dated, the date shall, unless the contrary is proved, be presumed to be the day on which the cheque was drawn or the indorsement made, as the case may be.
In the UK the legislation is clear; 'A cheque is a bill of exchange drawn on a banker payable on demand'.
In the United Kingdom, post-dating a cheque carries no legal weight and so such a cheque can be cashed before the due date.
The Answer: My first question for you: Why do you want to close it so badly?
I can tell you generically that closing this account will not help your score.