How Long Should a Personal Check Be Honored?

Personal checks have an expiration date.

Personal Checks Can Add Up

Businesses or other persons in receipt of numerous personal checks can have a substantial payday when taking them to the bank to cash in. This can be similar to a savings account, as when the money is tied up it isn't being used or allocated elsewhere.

Holding Too Long Can Be Harmful

Holding checks too long can cause a mismanagement in the check writer's account. Depositing checks after waiting a prolonged time can cause a check to bounce, which can create a host of other problems for both parties.

Bottom Line

The general guideline at most banks is that they will not accept or cash a personal check that is more than 60 days old. Some lenders will not even take a personal check older than 30 days. Before agreeing to hold a personal check for longer than two weeks, talk to your bank about its policies.

References

• Get Rich Slowly: How Long Can Someone Wait to Deposit a Check?
• Banking Questions: How Long Can You Wait to Deposit a Check?