A post-dated cheque cannot be accepted or honoured earlier than the date mentioned on the cheque, whereas a stale cheque is not honoured at all. The Deposit and the old check clear against each other next reconciliation to Net 0. Used to indicate problems with digital signatures associated with an image in the Image View Data Record (Type 52) or Government cheques never expire or stale-date, so cash any cheques you have. Under certain conditions, personal checks can become stale dated checks. A Stale Dated check is offset by a Deposit to a Liability account, so that the Replacement Check pays out that same Liability. What is the interest rate for my TD Credit Card? What is a stale dated check? A document that is a promise to pay money that is held for too long a period of time before being presented for payment. A check is a written, dated, and signed instrument that contains an unconditional order directing a bank to pay a definite sum of money to a payee. In spite of being called the "Uniform Commercial Code," the UCC is state law which is fairly consistent across the country. What is a stale-dated cheque? It will be called a stale cheque if it is presented after 3 months. Post-dated Cheques Cashed Early. How do I make a payment to my TD Credit Card? If you do not like that, you can do a negative paycheuqe and select the date of reversal. Whether an employee forgot about the paycheck or a vendor went out of business, a stale-dated check can result in an accounting conundrum. Difference between Ante- date Cheque, Post Dated Cheque and Stale Cheque – We have discussed different types of cheque in our earlier articles. Find more ways to say stale, along with related words, antonyms and example phrases at Thesaurus.com, the world's most trusted free thesaurus. Answer: The Uniform Commercial Code, section 4-404, has effectively eliminated the old concept of "stale" dates on checks. Assuming the bank would consider the cheque stale-dated and therefore not process it, I re-entered that amount in QuickBooks last month to remove the cheque … First published on BankersOnline.com 1/6/03 First one is to look that up and then hit the reverse cheque button. A check is considered to be stale when it is outstanding for a period of six months or more. Stale-dated cheque. Why did a cheque go through my account prematurely? Recently, one of our vendors deposited our cheque in bank which was dated last year and the bank cleared it. Privacy, Difference Between Pre-Shipment and Post-Shipment Finance, Difference Between Bill of Exchange and Promissory Note, Difference Between Speed Post and Registered Post, Difference Between Cheque and Demand Draft, Difference Between Cheque and Bill of Exchange, Difference Between Banker’s Cheque (Pay Order) and Demand Draft. When a cheque has a date written on it which is three months or more before the time that it is submitted to the bank for payment, it is called a stale cheque. Personal checks don’t expire. The stale cheque is one that was drawn long ago and not presented for payment within a reasonable time, i.e. Check you own state's version of the UCC to see if it varies from the "standard." An issue date was added, and cheques may not be valid a certain amount of time after issue. The six month "stale date" reference is found in Section 4-404. It can be honored, only when the date on the cheque has arrived. … Stale-dated cheques have an increased chance of being returned by the issuing bank, and therefore financial institutions may not accept them. Check you own state's version of the UCC to see if it varies from the "standard." mhladun over 6 years ago. Date: Past Date: Future Date: Honour: It cannot be honored. three months or more, in the past. Types of cheques. But here we will be discussing three confusing terms namely – ante-dated cheque, post dated cheque and stale cheque. A stale cheque contains a date, i.e. However, the bank does have the freedom to honor a stale-dated check, regardless of any restrictions listed on the check. Some checks can be stale dated for longer or shorter times. These cheques differ only by one important features i.e., Cheque Date. A post-dated check (or post-dated cheque) is a check written with a future date. The Deposit and the old check clear against each other next reconciliation to Net 0. On the other hand, a post-dated cheque contains a future date. At this time, most banks have the option of refusing to deposit or cash the check, according to LegalMatch. Stale Cheque Post-Dated Cheque; Meaning: A stale cheque is one which is outstanding for a period more than 3 months from the issue date. Financial institutions may still honour these items, but there is no obligation to do so. French: Chèque périm é. 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