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To add to that, cheques have unique properties that would be hard to replicate. You can preemptively write cheques for future payments, like buying a car in tw
by hrktb 11y ago
To add to that, cheques have unique properties that would be hard to replicate.
You can preemptively write cheques for future payments, like buying a car in two payments: one now and one in 3 months.
It also works for guarantee deposits, or write blank cheques with only the receiver filled in, etc.
- stephengillie 11y agoNot legally - post-dated checks are illegal.
- jessaustin 11y agoEven so, two parties who trust each other can use them without calling the police about it. (Actually a post-dated check is not so much illegal as it is invalid and therefore not intrinsically worth anything.)
- brobinson 11y agoI worked for a major company which operated in all 50 US states about ten years ago which paid me via post-dated checks. I had to wait a few days after receiving my check in the mail before I could deposit it.
- manarth 11y agoThey're legit in some countries: https://en.wikipedia.org/wiki/Post-dated_cheque https://en.wikipedia.org/wiki/Post-dated_cheque
- Spooky23 11y agoNope. For most U.S. Banks, post dated checks are immediately negotiable.