How long are cheques valid for ?

waveydave

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

*zippy*

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

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 I have had out of date cheques but phoned the companies and had them re-issued.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

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.

waveydave

Cheers peeps,

Will have a go at cashin it monday morning then and keep my fingers crossed

MissSunshine

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

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.

banker2006

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_3

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. :whistle:

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

rog2

AndyR wrote:

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.

That's fine but if it is picked up you could incurr charges.