Depositing predated cheques
 

So I pulled a facepalm a few munutes ago and grabbed an incorrect cheque before depositing it in an atm. Any comments on what'll happen? Are they subject to NSF to both me and the cheque holder? And will I need to have a new cheque cut? Trued calling the bank but they're shut down for the night now. I'll try again tomorrow but I'd like to give the cheque holder a heads up asap. :(

I just asked my friend who works at TD.
She said it depends on the person who deposits the funds.

She said it could go through or it could bounce.
The ATM deposits are not handled by TD staff, they are outsourced. So i'm assuming the same is true for all other banks?

So it's hard to tell she said.
If it does bounce, you'll have to pay a fee (Dependent on your bank)

What was the date on the cheque, do you know?

Some banks will hold the cheque until the post-date and then release the funds then. That accidentally happened when an old boss of mine gave me a cheque dated for the year after.

Deposited it, he realized the mistake, said he'd cancel it and then gave me another one. Fast forward to a year later when they were like "WTF why did you take our money" and I was like "...uh, what?" Whoops.

You mean post-dated cheque?

It depends on your bank and your relationship with the bank. The credit union my business account is with is very good with this kind of thing. They manually sort and clear cheques next morning in branch and if they catch one, they will call me and politely notify me they will simply hold the cheque until the date and then release it for me.

Most major banks outsource their sorting so it takes a day or two to be processed. Try calling the bank's toll free number (not your specific branch) and they should be able to make a note on your account about it.

in the states it doesn't matter..banks cash it anyways

Just dont use the funds at the moment. If you use your funds now and the cheque gets charged back, then you will receive a NSF charge.

Usually they will mail you back the cheque with a dishonoured stamp.

On the subject of checks, I stop by the bank the other day to deposit a check. The lady is like, "she didn't initial the change from 2012 to 2013. Now, I've had issues before so I check them myself. I didn't see it. The ink was a little darker.

So back into the car, back down to the building, to the tenant, who scrawls their initials while laughing and I go back to the bank, back to a new line to have it deposited.

Like, srsly. You know, banks in the grand form, unarrestable and basically bankrolled by government...that's annoying. Having some chick make me drive around town? That's just...INDEFENSIBLE!.

^^^

its called bank policies its to protect the bank incase the cheque issuer decides to complain or sue the bank for cashing out their cheques which were modified without their authorization

i hope u werent too offended :rolleyes:

certain ways it CAN work...if the post-dated cheque is dated for the first business day after a weekend (mondays normally, or tuesday for a holiday weekend) and you deposited it after 3pm on the friday before (6pm business closing time for EST) it will work because banks can't send off the cheques until monday anyway.

i work sat/sun and we take cheques that are dated for monday and never had a problem

if it's anything other than that though, i've heard of banks holding it for you until the correct date, but most of the time you'll just get it back in the mail as rejected and you can either two things:
1) bring it in to a teller on the correct date and explain the situation
2) get replacement one

Do you mean post dated?
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