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Stale-Dated Checks

Are you aware that issued checks can actually get stale? Generally, a check is considered stale-dated when they are dated in excess of six (6) months. This means that the check has expired and the drawee bank would have the right to refuse payment and let it bounce. However, there have been instances where stale-dated checks have been successfully cashed.

To avoid any potential hassle, it would be best to ask the issuer of the check to give a new check. The issuer of the check may exercise his option to put a stop payment notice on long overdue checks although this comes with a fee. It would also be best on his part to contact the check’s payee before doing this option or spending the money. A presumptive move might unnecessarily compromise his account.

About

This page contains a single entry from the blog posted on October 18, 2007 8:41 AM.

The previous post in this blog was Stores Online.

The next post in this blog is Owning an Online Business.

Many more can be found on the main index page or by looking through the archives.

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