Post dating cheques in australia

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It goes like this: Still, if you were paying really large amounts or dating your cheques several months in advance, you might want to use one of the suggestions above to make sure you don't lose interest. What if the OP had spent the money before it was retaken by the bank? If the cheque is made payable on demand, the amount will be paid as long as the bank verifies the signature and account details. Post-dated cheques are common and enforceable.

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This means the cheque will go through the clearing system and find its way to the payee's account.

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Federal Register of Legislation - Australian Government

This is to avoid any incidence of returned cheque due to insufficient funds and the resulting penalty charges. In this case there is no name as such, but the cheque may be addressed to "pay cash" or "pay cash or order". Refusal to Pay There are a number of reasons why a bank may refuse to make payment on a cheque: Write it out Sep 16, Lincoln Hui wrote: Join the conversation, you are commenting as Logout. Transferor by delivery Is it an Australian-only issue?

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