Is postdating a check illegal in colorado

After the initial period of panic, grief and anger toward the bank and the person who had cashed the check, I did some serious digging into the regulations surrounding postdated checks.If you’re going to write a postdated check (or receive one), here are some things you should know!Because I make most payments (like my mortgage) online, it’s not too often that I bust out the checkbook.A few weeks ago, however, I wrote a check and got a nasty surprise in my bank account.That’s because once a check is signed it becomes legal tender, and, according to the Consumer Financial Protection Bureau, banks and credit unions can generally use their own discretion when deciding when to process a check – all without regard to the check’s printed date.The only way to possibly prevent a postdated check from being processed early is to let everyone involved know in advance — and in a format that goes beyond just postdating the check.“Since we were still short a few hundred dollars, why not cover most of the payout, and send a postdated check for the rest later on,” she tells Consumerist.

Otherwise, the person or company to whom you remitted the check can go to the authorities.

Thanks to automated payments and online banking, many of us rarely (if ever) write checks, but millions of Americans still pull out their checkbooks every day to pay their bills.

Because they might not always have enough money in their accounts on the day they write those checks, some folks will postdate their checks so that they aren’t deposited or cashed until after that date.

If you have recently been accused of writing bad check or if you have been the recipient of a bad check, it is important that you act quickly to protect yourself.

Many people in Colorado are under the false impression that a company you hand a check over to must submit the check to you bank twice before contacting you directly for payment. In the state of Colorado, a business needs only to submit your check one time to a bank before attempting to reach you directly.

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