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The two major issues before the courts are: 1) Post-dated cheques that are stopped by the bank or issuer, causing problems for whoever is to be paid by the cheque for goods or services provided and; 2) the reverse, in which a person is promised goods or services but does not receive them and has to stop the cheque.In the UK the legislation is clear; 'A cheque is a bill of exchange drawn on a banker payable on demand'.In which case, the CFPB says the institution may may be on the hook to cover damages such as the cost of overdrafts and other fees.Consumer advocates who spoke with Consumerist say that while there are several reasons someone might think it’s a good idea to use a postdated check, it’s not generally recommended.
It will only become cheque on the date shown on it and prior to that it remains a bill of exchange under Section 5 of the Act.“[The dealer] would deposit the postdated check as stated, right? And because the bank processed the check before the date she’d written, M.’s account was overdrawn and she was hit with fees by her bank. to provide a postdated check, it also wasn’t illegal for the dealership to deposit the check or for the bank to take out the funds needed to cover that check, regardless of the date.