Is postdating a check illegal in michigan
A banker said, “Generally, we would try to pay out the fund on the check even if it was post-dated.
If you wanted to avoid it, you should stress it to the person that receives the check, or just give the check to them when you actually have the money in your account.” Upon further investigation, I found a clause in the Wells Fargo consumer account agreement that states: The Bank may, without inquiry or liability, pay one of your paper items even though: So, Wells Fargo may actually try to process the check, regardless of the date that is written on the check.
Now, if you’re the one writing a post-dated check, just know that it means nothing to post-date a check.
There are no guarantees that the recipient will do the right thing by depositing the check on or after the date shown.
How much depends on:a C/ How old is the account relative to your other accounts?
(Closing one of your oldest accounts, particularly if you don't have many accounts, will hurt you.)a C/ How many other credit lines do you have?
Not only do you not want to incur an insufficient funds fee, you don’t want to go through the trouble of obtaining a reissued check.
If there are multiple occasions of failed check deposits, the bank could even close your account and report you to Chex Systems, a consumer reporting bureau that tracks negative banking history.
There’s the incentive for banks to process a post-dated check when I want to deposit it early. As you can see, there doesn’t appear to be any major enforcement of a post-dated check, so it can just be treated as a regular check for the most part.We've always paid the total balance due each month.The Answer: My first question for you: Why do you want to close it so badly?The Question: We've had a GM Master Card for 14 years and have purchased two cars with our "earnings," most recently in February. What can you tell us about the wisdom in closing this account?Are we in jeopardy of a change in our credit score, which is in the 800 range?