Ask!: Date check is cashed is up to its recipient

By Mike Rudeen, Rocky Mountain News (Contact)

Wednesday, May 21, 2008

Doug asked if a postdated check is binding, meaning that it can't be cashed or deposited until the date written on it.

The readers had this one right. Connie wrote that postdating a check is a "gentlemen's agreement," nothing more.

"There is no such thing as a postdated check," DJT wrote. "Once written, a check may be cashed immediately." And if you don't have sufficient funds in the account, it could bounce.

Wells Fargo's account agreements with its customers say checks can be negotiated regardless of the date, said spokeswoman Cristie Drumm. You could put a stop-payment order on the check and release it later, she said, but that involves a fee.

A teller might honor a postdated check but isn't obliged to, said American Bankers Association spokeswoman Carol Kaplan. And the holder of the check could ask a manager to overrule the teller.

How about this one?

My wife is turning 65 and just received her 2008 Medicare handbook from the U.S. Department of Health & Human Services. On the back it states "Official Business - Penalty for Private Use $300." What does that mean? I thought it is for private use (my wife's). - Dave

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