Is postdating a check
Occasionally, I like to skim through Reddit’s personal finance section for any interesting money topics.One recent, noteworthy topic had to do with post-dated checks and what happens to them when you attempt to deposit or cash the checks before the date written on them. If I were to post-date a check, it would probably be because I don’t yet have enough funds in my account to cover the check amount.I didn't address this part of the question last week because the gentleman's main question was about the order of checks that cleared his account, and the fact that his account got overdrawn because of a check for 5 to the Boy Scouts that was more than six months old.He was mad at his bank, but it was the Boy Scouts' bank that accepted the check to begin with and then sent it to this guy's bank for payment. Recently, my girlfriend added me as an authorized user on her credit card from Chase bank but the card was mailed to her and they never asked her for my Social Security number, date of birth, etc. You think the credit bureaus can't find you if they don't have your Social Security number or date of birth? If Chase is reporting you as an authorized user, it will get onto your credit report.Be aware, though, that credit freezes don't prevent fraud on existing accounts.If you have a credit freeze, you can lift it for one specific creditor or for a certain period of time - say one month while you're shopping for a car.FICO will still factor that information into his score.
If the check is returned for insufficient funds, I have to pay an expensive insufficient funds fee, which averages .20 at the top 10 U. So, yes, you can deposit a post-dated check before the date shown, but it isn’t advised.If there are multiple occasions of failed check deposits, the bank could even close your account and report you to Chex Systems, a consumer reporting bureau that tracks negative banking history.Now, if you’re the one writing a post-dated check, just know that it means nothing to post-date a check.Then, I spoke with a friend who happens to be a Chase banker, who generalized what a teller would do if a customer came in to deposit or cash a post-dated check before the date shown.Additionally, at the bank’s discretion, there could be a hold on the funds until the check clears.