Posted Dated Cheques

Lansdowne

ElleR wrote: »

Really? Wow I paid a whole years rent in post dated cheques and I'm with Nationwide. Would it be the same for all banks/building societies? I'm surprised the letting agents ask for them if account holders aren't allowed to write them.

If the agent/landlord has specifically asked you to do this, there should be no problem as they clearly intend to bank the cheques as each month's rent becomes due. It would be an implied term of the tenancy that they will not try to claim the money before it's due: if they paid your cheques in early, they are the ones committing fraud or more likely theft.

On the other hand it is hardly good professional practice.

System

A cheque is simply an instruction from an account holder to his bank to transfer some money to someone else.
The account holder is allowed to specify the name of the person, and the amount, or to restrict payment to the payee in person rather than letting him assign it to someone else, or he can stipulate that it must be paid into an account rather than cashed.

So why is he not allowed to specify a date?
Banks allow that in online banking. I can set up a payment from my account to another account on a specified date in the future. I do not have to have sufficient funds in my account now, am merely warned that I must make funds available on the day in question.

dzug1

He is allowed to specify a date.

The T&C of most banks say that they are not liable if they fail to notice that the date is wrong

They do it so thay don't have to pay someone to check every cheque in minute detail.

kate101

alanq wrote: »

I wouldn't call it fraudulent. However, writing post-dated cheques does break the account Ts&Cs.

"17. Cheques must only be written in sterling and should not be
post dated."

Yes, and you would think that major companies would not encourage post dated cheques. I saw that SYKES COTTAGES are running a promotion for 'book now pay in February 2012' by sending them a post dated cheque - they should know better!!!

noh

kate101 wrote: »

Yes, and you would think that major companies would not encourage post dated cheques. I saw that SYKES COTTAGES are running a promotion for 'book now pay in February 2012' by sending them a post dated cheque - they should know better!!!

I would hardly call them a major company.
Sounds more like a cottage industry to me.

thenudeone

pmduk wrote: »

writing a cheque that you don't have the funds to pay is most definitely fraudulent, even if you post date it.

errr. not sure about that at all.

Obtaining goods or service by deception (including paying with a cheque you knew wouldn't be paid) is certainly an offence.

What Act and section makes writing a bounced cheque automatically an offence in every circumstance?

masonic

thenudeone wrote: »

errr. not sure about that at all.

Obtaining goods or service by deception (including paying with a cheque you knew wouldn't be paid) is certainly an offence.

What Act and section makes writing a bounced cheque automatically an offence in every circumstance?

Clearly it isn't an offence if you reasonably believe that sufficient funds are in place to cover the cheque when you write it. It's probably quite hard to argue that case for a post-dated cheque that bounces when presented earlier than you wanted.

Bob++

I read somewhere that banks make no checks at all - date, signature, written numbers - on cheques for less than £3000 (that may be linked to the money laundering rules).

The cheque is not seen by a human being and the details are machine read.

withabix

bloolee wrote: »

when i was on holiday i went to the back to withdraw some beer tokens to find my account was empty.

unlucky :d