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  • FIRST POST
    waveydave
    How long are cheques valid for ?
    • #1
    • 14th Oct 06, 1:40 AM
    How long are cheques valid for ? 14th Oct 06 at 1:40 AM
    Whilst clearing though two drawers and five years of paper work this eve i came across an un cashed cheque from an insurance claim at the begining of 2004.

    Basically the company sentus a cheque but also sent us a replacement Laptop
    So........

    1 - would a cheque with a march 2004 date on it still be bankable ?

    2 - setting the morality to one side for a second - would i be liable to be in trouble if i did try and cash the cheque ? bearing in mind that we were given a replacement by the insurance company but somehow we were also given a cheque for the replacement amount

    Cheers
Page 1
    • *zippy*
    • By *zippy* 14th Oct 06, 1:47 AM
    • 2,784 Posts
    • 8,196 Thanks
    *zippy*
    • #2
    • 14th Oct 06, 1:47 AM
    • #2
    • 14th Oct 06, 1:47 AM
    Found this on the motely fool website

    http://www.fool.co.uk/news/comment/2006/c060720c.htm?ref=foolwatch

    How long are cheques valid for?

    Banks will usually reject cheques that are more than six months old but, in fact, it's at their discretion. They can choose to cash it if they want to so don't assume that if you wrote a cheque to someone over six months ago that you're off the hook from paying it! Cheques actually remain legally valid for six years - yes, I did say six years - and the only way to cancel a cheque is to ask for a 'stop' to be placed on it. However, cheques backed by a cheque guarantee card cannot be stopped.
  • alba37
    • #3
    • 14th Oct 06, 1:53 AM
    • #3
    • 14th Oct 06, 1:53 AM
    Some cheque have a date on them. I have had out of date cheques but phoned the companies and had them re-issued. Certainly worth a try if the bank won't cash it.
  • roswell
    • #4
    • 14th Oct 06, 2:14 AM
    • #4
    • 14th Oct 06, 2:14 AM
    Try bank It I believe its 6 years same as a debt its effectively money owed to you. (morality aside)

    If the bank say no ... you lost nothing.
    If it doesnt pay rent sell it.
    Mortgage - 2,000
    Updated - November 2012
  • waveydave
    • #5
    • 14th Oct 06, 8:39 AM
    • #5
    • 14th Oct 06, 8:39 AM
    Cheers peeps,

    Will have a go at cashin it monday morning then and keep my fingers crossed
  • MissSunshine
    • #6
    • 14th Oct 06, 8:47 AM
    • #6
    • 14th Oct 06, 8:47 AM
    Just be aware, the company that issued the cheque may have already put a stop on it because it kept showing up on their unpresented cheques report and was issued 2 years ago.
  • rog2
    • #7
    • 14th Oct 06, 9:05 AM
    • #7
    • 14th Oct 06, 9:05 AM
    As far as I know - cheques can only be presented within 6 months of the date on the cheque. I also found a four year old cheque, for £160.00, which had dropped down the back of my desk - I asked at the bank and they suggested I return it to the company and ask for a replacement, which I did. That was over two months ago, when I moved out of my office, and I have not had any reply.
    I am NOT, nor do I profess to be, a Qualified Debt Adviser. I have made MANY mistakes and have OFTEN been the unwitting victim of the the shamefull tactics of the Financial Industry.
    If any of my experiences, or the knowledge that I have gained from those experiences, can help anyone who finds themselves in similar circumstances, then my experiences have not been in vain.

    HMRC Bankruptcy Statistic - 26th October 2006 - 23rd April 2007 BCSC Member No. 7

    DFW Nerd # 166 PROUD TO BE DEALING WITH MY DEBTS
  • banker2006
    • #8
    • 14th Oct 06, 12:04 PM
    • #8
    • 14th Oct 06, 12:04 PM
    The usual period is 6 calender months unless it is a divident cheque which states on it that it is valid for 12 months or a dhss cheque, i think with only a 3 month validity, hope that helps.
  • AndyR
    • #9
    • 14th Oct 06, 1:17 PM
    • #9
    • 14th Oct 06, 1:17 PM
    OK, most cheques aren't actually looked at by anyone other than the bank cashier, but if it's spotted that the cheque is more than six months old, it will be rejected. So what I'd do is pay it in through a machine (that way a cashier won't spend too long looking at it) and cross your fingers. If the funds show as cleared in your bank, I'd then wait a week or so incase it is a late return before drawing them out (even though they show as cleared, the bank can still reclaim them).

    If the cheque is rejected somewhere along the line, it will be returned to you by your bank with a letter explaining why. You could then send it to the insurance company and ask for a replacement - chances are they won't realise they settled the claim another way and will just re-issue the cheque. If they do realise, then obviously they won't re-issue the cheque but you could just claim you forgot why the cheque was originally issued I guess.
  • MissBehaving
    I thought that if you banked a stale cheque that you incurred administration fees from the bank?? I might be wrong, but I know that in South Africa if we banked a postdated cheque or a stale cheque we were charged a administration fee.

    Would it not help to phone the insurance company, make up a bit of a story - say that your OH was meant to have put it in your account, but obviously he didnt, and didnt tell you!!!! ..... Be really nice to them, and ask if there is anyway that they can issue you with a new one.

    We had a stale cheque from Inland Revenue... and seriously.. OH didnt bank it... just filed it!!!! GRRR!!!!!! He phoned IR and explained what had happened. They asked him to send the cheque back and they issued him with a new one...!!!!! I took it to the bank straight away!!! ..... Other halfs.. who can trust them ey!? :rolleyes2
    "Never save something for a special occasion. Every day in your life is a special occasion".
  • rog2
    OK, most cheques aren't actually looked at by anyone other than the bank cashier, but if it's spotted that the cheque is more than six months old, it will be rejected. So what I'd do is pay it in through a machine (that way a cashier won't spend too long looking at it) and cross your fingers. If the funds show as cleared in your bank, I'd then wait a week or so incase it is a late return before drawing them out (even though they show as cleared, the bank can still reclaim them).

    If the cheque is rejected somewhere along the line, it will be returned to you by your bank with a letter explaining why. You could then send it to the insurance company and ask for a replacement - chances are they won't realise they settled the claim another way and will just re-issue the cheque. If they do realise, then obviously they won't re-issue the cheque but you could just claim you forgot why the cheque was originally issued I guess.
    by AndyR
    That's fine but if it is picked up you could incurr charges.
    I am NOT, nor do I profess to be, a Qualified Debt Adviser. I have made MANY mistakes and have OFTEN been the unwitting victim of the the shamefull tactics of the Financial Industry.
    If any of my experiences, or the knowledge that I have gained from those experiences, can help anyone who finds themselves in similar circumstances, then my experiences have not been in vain.

    HMRC Bankruptcy Statistic - 26th October 2006 - 23rd April 2007 BCSC Member No. 7

    DFW Nerd # 166 PROUD TO BE DEALING WITH MY DEBTS
  • iolanthe07
    Why all this 'morality aside' business? You can't just put morality aside. You are not entitled to this money and to try and cash the cheque would be both immoral and probably illegal. If you do, I hope it comes back and bites you on the bum.
    "Debt is the slavery of the free" (Publilius Syrus, First Century BC)
  • iantoday
    Is this still true about the six month rule? Just thought I would ask as the last reply was in 2006 as are all messages I've found answering this question. I may ask my bank for written confirmation that they will accept a cheque that is older than six months old but 'newer' than six years.

    I wonder if the case for being moral is as strong if the money, if not received by me, instead goes to a huge bank that failed to act with due diligence causing me insurmountable debts which they refused to help me address the cause of, choosing instead to hide behind legal jargon. The cause incidentally was the person I invested in who lied both to me and to the bank, claiming that they would pay me sufficient income to so the bank could justify lending me the money to invest.
    Last edited by iantoday; 14-03-2011 at 9:09 AM.
    • fermi
    • By fermi 14th Mar 11, 7:26 AM
    • 36,887 Posts
    • 44,405 Thanks
    fermi
    http://www.chequeandcredit.co.uk/faqs/-/page/is_it_true_that_cheques_are_only_valid_for_six_mon ths/
    I'm a Board Guide on the Debt-Free Wannabe, Bankruptcy, Credit Cards and Loans boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com. Board guides are not moderators. If you spot an inappropriate or illegal post then please report it to forumteam@moneysavingexpert.com | > New to Forum? Click for Guide <

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  • sylhet
    i come a cross a cheque dated 2005, its almost 6 years now. I am going to write to the Birmingham Midshires and ask them to issue a new cheque.
  • pauletruth
    its fraud. do it and get done and your credit will be wrecked.
  • Flash123
    Cheques are legally valid for at least six years, BUT....
    This clears the matter up: from the cheque clearing people themselves.....

    chequeandcredit.co.uk/
    facts_and_figures/
    key_customer_faqs

    Is it true that a cheque is only valid for six months?
    No. A cheque is valid for as long as the debt between the two parties (i.e. issuer and payee) exists. In other words, cheques dont have an expiration date. However, its common banking practice to reject a cheque thats more than six months old to protect the payer in case the payment has already been made another way. This is at the discretion of individual banks. Where there is a dispute, a cheque remains legally valid in order to prove a debt for a period of six years, which is the Statute of Limitations.
  • sijomi
    Can a 9 year old unpaid cheque (for 20K!!!) be cashed?
    An elderly relative of mine (no it really isn't me!) has just found a cheque payable to him for 20K dated about 9 years ago! It was a payment from the Woolwich Building Society drawn on a NatWest account. He has no other supporting information. Is there any hope of obtaining these funds and if so then where should he start?
    • Goldiegirl
    • By Goldiegirl 3rd Dec 13, 7:31 PM
    • 6,200 Posts
    • 34,910 Thanks
    Goldiegirl
    In the dim and distant past when I was a bank cashier, our instructions were not to accept any cheque more than six months old.

    It might look as if the cashier is just stamping the cheques ....... But they are looking at them too, and if it's noticed it wouldn't be accepted.

    Same goes with cheques paid into a machine, they are looked at by a human, and if noticed, the credit would be reversed out of the account.

    I now work for a very small bank.

    If cheques have been presented for payment, and they have been drawn more than six months ago, they are bounced with the reply 'out of date'. Because we are a small bank, every cheque is looked at by a human, so it doesn't just get lost in the system.

    If you pay a cheque into your account and it bounces, your bank will charge you a fee.

    The best thing to do in these situations is to contact the drawer of the cheque and ask for a replacement.
    Early retired - 18th December 2014
    Decluttering 2015 - 350
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  • dancingfairy
    Was it from his savings account? If the money hadn't been cashed in he could maybe trace the old account somehow and withdraw it from there.
    If it's a from a third party (which I'm assuming it is) it could be a lot trickier.
    Is it from a private individual or a company?
    I believe cheques are only valid for 6 years but I'm not sure. In law you can sue someone and you have 6 years to take action. Now that 9 years has passed it would seem that he has perhaps missed his opportunity to chase this although it's worth a shot.
    Are you sure a replacement was never sent?
    df
    Making my money go further with MSE
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