Donations of non-perishable food items accepted for Everett Food Bank.
One of the myths that somehow refuses to go away is the myth that post-dated checks are "illegal." They are not.
The UCC does not regulate fees that banks charge customers for a notice of postdating or other services covered by the Act.
Regulation CC requires that financial institutions provide customers who have a transaction account with disclosures stating when their funds will be available for withdrawal; many institutions use the model disclosure statements included in Regulation CC.
Therefore, the protections offered to creditors under the various "bad check" laws may not apply.
There is nothing unlawful about post-dating a check and both the bank of deposit and the payor (your) bank are responsible for noting and acting on the information on the check including the date.
Some kiting rings involve offenders posing as large businesses, thereby masking their activity as normal business transactions and making banks inclined to waive the limit of funds made available.
Circular kiting describes forms of kiting in which one or more additional banks serve as the location of float, and involve the use of multiple accounts at different banks.It may be unlawful for the dentist to present the post-dated check to the bank for payment, but there is nothing wrong with your writing it.Additionally, the post-dated check in the hands of your dentist is the equivalent of a promissory note. By accepting the check, the dentist impliedly promised not to negotiate it until the agreed-to date.In these cases, the kiter writes check(s) to one or more places of retail (usually supermarket(s)) that offer cash back in addition to the amount of a purchase as a courtesy to their patrons.Following the transaction, the kiter deposits the cash received back into his/her bank on the same day in order to provide sufficient funds for other check to clear, while the check written that day will clear one or more business days later.