Post dated cheque paid in early

jstvj

I would like to thank everyone for their time and input on this subject, which seems to have caused many differences of opinion.

I can say that the payer's Bank has blamed him and has refused to refund any charges incurred.

Although I have readily admitted my mistake in paying the cheque in two days early. On reflection, I feel that it is reasonable to, at least expect the funds to be available on the day the cheque is dated. Normally, bearing in mind the clearance time, my mistake should not have caused a problem. However, I have just discovered that, in this instance we both have accounts at the same Bank branch and therefore, presumably the normal clearance period did not apply. Not my fault ?????????????

Thanks again to everyone, even those who disagree with me.

MarkyMarkD

Yes, your fault for breaking your agreement with your customer and presenting the cheque two days before the date stated on it.

misterbojangles and noh - issuing postdated cheques is wrong, because it's a breach of the agreement between the customer and their bank. Whilst it's generally accepted practices by many third parties - such as those you've mentioned, that doesn't make it right.

tigtag02

mister_bojangles wrote: »

jstvj, Some respondents appear to have suggested that it is WRONG to issue post-dated cheques. I don't agree. People issue them; which is why some organisations (e.g. my children's school) insist that they will not accept post-dated cheques as they will present the cheques to banks quickly.

Come to think of it, issuing post-dated cheques is similar to direct debits, which are often post-dated, when the customer knows that the acct(s) will have sufficient funds.

It is my view that PBA is correct. YOur action caused that person to incur charges. You knew that the cheque is post-dated; which is why you began your piece with " I was given a post dated cheque and by mistake it was paid in two days early (dated 28/3, paid in 26/3)". Who do you think should pay for your MISTAKE?

Nonsense

It all boils down t o the fact the the issuer of the cheque should NOT have written and presented it to the OP without sufficient cleared funds in his account.

This will clearly be stated within the t&c's of his account.

Voyager2002

tigtag02 wrote: »

Nonsense

It all boils down t o the fact the the issuer of the cheque should NOT have written and presented it to the OP without sufficient cleared funds in his account.

This will clearly be stated within the t&c's of his account.

I disagree.

The person could reasonably have made an agreement (contract) to make a payment at a future date. Providing a post-dated cheque at the same time as making the agreement might have been a sign of good faith, or simply a matter of convenience.

However, perhaps it was unreasonable to expect the OP to be able to keep to an agreement not to pay in the cheque until a specified date. And what is quite clear is that banks do not refuse or delay post-dated cheques.

If the OP had made a clear agreement not to present the cheque until the date on which it was due, then he should meet the bank charges incurred as a result of his inability to keep to that agreement.

SparciaM

There is no such thing as a post dated cheque anymore. Banks will cash them regardless of the date on the cheque - unless they decide to have a system of keeping cheques until the date they 'need' to be posted.

The person giving you the cheque should've waited a couple of extra days or done a transfer.

If they wanted you to cash the cheque in the future, then you should've waited until that date.

There is not much one can do. The bank probably wont refund any charges - unless the person asks nicely. If not, you'll need to decide if you're willing to give any sort of compensation for cashing the cheque early.

Smickan

When I worked at my last job I was paid via cheque and one month I got it a couple of days early and never realised that it was dated for the day it usually was paid on (when I used to get it a little early it was always dated for the day I was given it) and went to pay it in - the cashier checked the date and refused to accept it - I had to ask my mum to pay it in for me on the correct day whilst I was at work.

ETA: Said back was Natwest

tigtag02

Voyager2002 wrote: »

I disagree.

The person could reasonably have made an agreement (contract) to make a payment at a future date. Providing a post-dated cheque at the same time as making the agreement might have been a sign of good faith, or simply a matter of convenience.

However, perhaps it was unreasonable to expect the OP to be able to keep to an agreement not to pay in the cheque until a specified date. And what is quite clear is that banks do not refuse or delay post-dated cheques.

If the OP had made a clear agreement not to present the cheque until the date on which it was due, then he should meet the bank charges incurred as a result of his inability to keep to that agreement.

Its not about whether you agree with me or not, its about the fact that the issuer of the cheque was in breach of the terms and conditions of his account!