Definitions for Post-dated cheque

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  1. Post-dated cheque

    In banking, postdated refers to cheques which have been written by the drawer for a date in the future. In the United States, postdated items are described in Article 3, Section 113 of the Uniform Commercial Code. Postdated checks are often used in conjunction with payday loans. Many banks will honor postdated cheques, even if they are deposited before the postdate because they will hold on to the cheque until the cheque is able to be cashed in. Legal consequences of cashing in a post-dated cheque before its due date vary from country to country.

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"Post-dated cheque." Definitions.net. STANDS4 LLC, 2014. Web. 21 Sep. 2014. <http://www.definitions.net/definition/Post-dated cheque>.

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