What is Post Dated Cheques and How to Write a Post Dated Cheque Canada
- Liliana Donatoghh
- Mar 16, 2022
- 1 min read
Post dated cheques are issued to a payee who needs to wait a certain period of time before depositing it in a bank. The date on the post dated check is the date it will be presented at the bank. Writing a post dated cheque is similar to writing a regular cheque. Instead of writing the current date, you write the future date. This way, the payee will have the option of presenting the money when it is more convenient to them.
If you are wondering what is post dated cheque, it is a document signed by the payer which guarantees payment at a future date. Unlike a normal cheque, a post dated cheque cannot be processed by the bank until the specified date. The only way to avoid the risk of a cheque bounce is to write a post dated check with clear instructions. If you don't know how to write a proper future -dated cheque - make sure to check with your bank to learn the specifics.
Post dated cheques are a great way to get an early taste of a product before you pay for it. The best part about them is that they don't have any value in the US and UK. Once the date on the cheque is met, it is worthless. However, in Canada, post dated checks have no value and the bank is forced to correct any errors they make. This type of cheque is also used for security in short term loans.
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