Bank bounced a check that was good: Citibank..

[Kraftwerk]

Citibank NY bounced a check on me that was good. Check dated March 1st and the funds were there. Person sent the check into their bank on February 27th, funds were not there yet, but bank went ahead and bounced it. You think there would be a reason to date the check? ...to read the date on the check, as you read the amount on the check, as you read who the check is made out to.. but no, they don't honor post dated checks anymore.
Cost: 47 $ . Rant: Priceless.





US Banks make 11 billion a year on bounced checks and other fines, BTW. They also do other nefarious things like reorder your transactions to benefit their piggy bank:
http://www.nytimes.com/2016/02/29/business/dealbook/overdraft-practices-continue-to-gut-bank-accounts-and-haunt-customers.html

[Arizona_928]

Still liable for fines?

[stomachmonkey]

A check becomes legal tender the minute you sign it regardless of what date you put on it.

No one is legally or otherwise required to honor the date you put on a check unless you notify the receiving bank far enough in advance either in writing or verbally.

Sucks but you really should not issue checks that are not covered the minute they leave your hands.

[Kraftwerk]

All good info, thanks, had no idea.

Someone once told me you can write out a 'check' on a piece of notebook paper and a bank would honor it..

[GH85Carrera]

Why would anyone have a personal account at a BANK?

Find a credit union. Every single aspect is better with a credit union unless it is for a business. Then you are stuck with banks.

I hate all banks.

[JavaBrewer]

A couple years ago I got expense checks from my employer that were dated 31 December. My credit union said they would take the checks but funds not available until the marked date.

[Danimal16]

Why would you even consider post dating a check?

[cashflyer]

Originally Posted by Danimal16

Why would you even consider post dating a check?

Because, "I'll gladly pay you Tuesday for a hamburger today."

[stomachmonkey]

Originally Posted by JavaBrewer

A couple years ago I got expense checks from my employer that were dated 31 December. My credit union said they would take the checks but funds not available until the marked date.

In person deposit?

I can see a smaller institution that handles by hand catching that and making the call.

Checks deposited into an ATM at a larger bank, it'd be cashed before the ATM could spit out the transaction receipt.

[BE911SC]

I'll bet if we deregulate the banking industry even more than it already is, the quality of our banking experience will improve.

[masraum]

Hmm, it's always been my belief that a post-dated check was only as good as the two members exchanging the check were trustworthy. Ie, "I'll give you the check today, but don't cash/deposit it until next Monday."

If the person deposits it on Thu, then to me, the problem is with the twat that deposited the check early AND the check writer who trusted the payee.

[on2wheels52]

I may have phrased it a bit differently than Steve did but that's about the way I have it. I took a few post-dated checks at the pawn shop (not that I took many checks at all) but the terms were certainly made clear before I took them to the bank.
I don't know what to say re the 'rant' against banks; in 30 years of business I had no issues with the ones I dealt with. Maybe it was a small town thing.
Jim

[ckelly78z]

Originally Posted by cashflyer

Because, "I'll gladly pay you Tuesday for a hamburger today."

That sounds like a "Whimpy" response HAHA !

I would never expect someone to honor a post dated check, so i've never written one. I honestly didn't know people still wrote checks other than the elderly grandmother ahead of you in line at the supermarket.

[Tobra]

Sounds like you need to change where you do your banking

[wdfifteen]

Another thing banks do is give you one contract when you sign up, and months later send you another one that says, "By continuing to use our bank you agree to these terms." What I've noticed most often is the new terms state that you wave your rights as a consumer and agree to settle any disputes with an arbitrator of the bank's choosing.

[Por_sha911]

Originally Posted by masraum

If the person deposits it on Thu, then to me, the problem is with the twat that deposited the check early AND the check writer who trusted the payee.

This

Originally Posted by Tobra

Sounds like you need to change where you do your banking

Nope. No laws regulating post-dated check. People need to know rules versus hearsay.

Reality check (pardon the pun) - anyone can draw funds from a checking account WITHOUT the piece of paper. All you need is the name on the account, routing and account number. The piece of paper is just a vehicle for getting that info. If the merchant keeps the image of the check, they have proof you O.K.'d a withdrawal and can do a direct debit instead. This is why when mail a check to some companies you don't see the image on your statement. Just a line in the debit section.

Fun fact #2 - the memo line means nothing. Putting "Paid in full" on that line means nothing to legal obligations. If the merchant or seller says you owe more, you owe more. The memo is only a reminder for the writer.

[flipper35]

I have a friend in Alaska where the only electricity they had until 5 years ago was via generator and the bulldozer ran 24/7 in the winter. They exchanged money with whatever was handy, be it a piece of scrap paper or fish skin and they just put the routing number, amount and signature on it. Even those sometimes got passed around like cash from person to person.

[stomachmonkey]

Originally Posted by masraum

If the person deposits it on Thu, then to me, the problem is with the twat that deposited the check early AND the check writer who trusted the payee.

Assuming the individual knows how a post dated check works.

I get the impression from OP's post that he assumed a financial institution, either his or payees would honor the date.

Possible the payee was under the same false impression.

Makes more sense that the payee was also unaware as many financial institutions will fine their customer for depositing a check that bounces.