How Long Is A Personal Check Good For?
When it comes to official checks such as the one issued by a certain government department or a person’s employer (salary check), all of them have a validity date. This validity date shows the time until a person can cash it. However, it depends on the bank if they are willing to pay the money after the due date, as they don’t have a legal binding to do so. But the situation is not the same when it comes to personal checks.
You might probably ignore a check of a small amount but if it is a big amount and you are in need of it, you might want to visit the bank. It is not a new thing and many of us have faced the same problem. It can happen that you recently came across an old check and are not sure if you can still cash it. So, how long is a personal check good for? And, what to do when you find one?
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Does Law state anything for it?
Technically, a bank is in no way responsible to consider a check for cashing after 6 months of the date it was supposed to be cashed in. On top of this, the bank’s policy also plays a key role. Every bank has a different set of policies on how to proceed in such situations. It totally depends on the bank if they want to pay you for that check or not.
What happens when a check you wrote does not gets cashed in on time?
It might happen that you wrote a check and payee doesn’t cash it in due time. But you cannot assume in this case that they will never cash it. This tricky situation makes it difficult to manage your check book. In case you are close to the payee, then you can contact and ask them when they will visit the bank to cash it. On top of this, every bank has their own policy and rules on outstanding checks. This meaning you may or may not have to confront concerns in relation to bounced checks and its fees.
For example, let’s assume that your payee forgot to cash the check that you wrote and after 6 months they want to cash it. During the same month, you wrote several other checks to other people, you need to pay the fees for each check that might get bounced. To avoid this situation, your payee can contact you before going to the bank. They can confirm if you still have cash in your account or if they can cash the check.
When you find a check you forgot to cash
The thoughtful thing to do here would be to consult your bank on their policies related to this matter. This is a way to save all the trouble for you and your payee. As mentioned in the earlier case, you need to talk to payee if they still have the necessary amount in their account.
When it comes to dealing with banks, it is advisable to know and understand their policies thoroughly. Along with this, be aware of your own finances and bank statements to avoid any fees related problems. Your bank is there to help you, ask for their advice whenever in doubt.
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It should serve as an alarm bell if you or your known has gone through a similar process and didn’t get the desired results. Always remember to get your check cashed as soon as possible. Also, get familiar with the bank policies related to checks to avoid getting into any trouble. Stay in contact with your payee and ask them if they can write a new check and stay ready to do the same for others if they are unable to cash the check you wrote.