At first it sounds like a great idea. It's almost like you're using some sort of time travel device. You have to pay a bill using your personal checks, but you need a couple of days so that your paycheck is added to your checking account - otherwise you may not have enough in the account.
You might assume that if you write a date a few days into the future the check won't be cashed until that date - and you'll be in the clear. That's what's referred to as postdating your personal checks. It sounds like a good plan, but unfortunately it is not.
The truth is that postdated checks are often brought in to the bank to be cashed or deposited before the person who wrote the check intended. That can cause some big problems for your personal finances.
Some people postdate their rent checks. Others write out multiple personal checks for things like 12 months worth of child support payments all at once. Still others try to send postdated checks in the mail hoping they won't be processed until that future date. But postdating personal checks is a dangerous game.
It is completely legal for postdated personal checks to be cashed ahead of the date written on the check. In fact, many bank tellers don't even look at the date when processing personal or business checks. Banks can legally pay checks far into the future.
If you try to get away with postdating, there is a good chance you'll end up bouncing checks and getting hit with overdraft fees from your bank. You may also be asked to cover bank fees the person who cashed your bad check incurred. Since you were postdating your checks in the first place, you're probably a little short on money as it is, so this is far from the ideal situation.
There are two ways to make sure your personal checks are not cashed until you intend them to be cashed.
First, you can speak with the person or business to which you wrote the check. See if you can get them to agree to wait until the date written on your personal check before they send it to the bank to be processed.
You can also contact your financial institution and request that they refrain from cashing that particular check until the date written on it. Your bank will probably charge you a fee for this service. However, it will most likely be less than the fees you'd be charged for overdrafting your checking account.
In general it is best to avoid postdating your personal checks.
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