How to Cash a Postdated Check
Postdated checks are regulated by both federal and state law. The legal status of a postdated check varies from one state to another. At the federal level, the procedure to cash a postdated check is governed by the Federal Fair Debt Collection Practices Act. Before you accept or attempt to cash a postdated check, realize your bank will probably require you to deposit the check, rather than simply giving you the cash. If you wish to present the check for cash, you will have to do so at the bank where the customer who wrote the check has his account.
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Instructions
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Ask your banker about the rules covering postdated checks in your state. Some state laws recognize postdating and you may not cash the check early. Even in states where postdating isn't legally recognized, your bank still will not process the check until the date on the check if the customer has given their bank notice not to honor the check early.
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Comply with federal regulations concerning legal notification of your intent. Anytime you accept a check postdated more than 5 days in the future you must provide written notice to the writer of the check stating when the check will be cashed or deposited 3 to 10 business days prior to doing so.
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Recognize that a postdated check presents greater risk to a bank. Consequently, your bank may place a hold on the funds until the postdated check actually clears. If you present the check to the bank it was drawn on, they may be willing to provide cash or transfer funds to your account immediately.
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Follow the regular procedures set by the bank for endorsing and depositing or cashing any other check.
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