Is postdating a check illegal in virginia
I work at a 24-hour call center for [large corporate bank].
At least once a day, I get a call from somebody who has written a post-dated check, had the payee cash/deposit it before the written date, and is incensed that the bank would honor the item.
For proof of that, one need look no further than the closing of savings accounts due to violations of Federal Regulation D, which states that no more than six withdrawals may be made from any account classified as a savings in a one-month period.
They call, they complain, I tell them it's a federal regulation, they go away.
a check delivered now with a written date in the future, so that it cannot be cashed until that date.
The danger to the recipient is that such a check is legally only a promissory note due at the later date, and if the account is closed or short when the check is presented at the bank, the payee has no rights to demand payment by the bank or claim that the delivery of a bad check was criminal.
Anytime that I have ever closed a bank account it has been done, by the bank, with the understanding that money is left in the account to handle any outstanding checks or other obligations.
Stating it like that makes it sound like corporate policy, which your average American consumer seems to view as highly negotiable (and, furthermore, they regard endless bitching as the primary means of discussion).
They tend to react somewhat differently, however, when smacked upside the head with the cold, hard word of Law.
If I write a check dated today to you, and close my account before you get to the bank, you can take legal action on me for acting in bad faith and writing a bad check.
If I post-date the check for next Monday and close the account today, you're left with a fairly worthless scrap of paper and questionable ability to get anything for it.