OMG UPDATE: Question? Answer.

Updated on Sunday, March 29

#7051

QUESTION: kw4rent cashed my post dated cheque a week early, resulting in a $45 insufficient funds charge from my bank. I called the bank and was told that I should ask kw4rent to reimburse me for the $45. Has this happened to anyone else before? Advice?

6 comments

  1. I didn't think banks could cash a cheque that hadn't reached its post-date yet. That's wonky.

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  2. How did that happen? If that's the case then what's the point of post-dating checks?

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  3. I've had this happen to me before. All you need to do is contact the company letting them know what happened, and in my case all they asked for was proof that it happened (sent them a picture of the date the rent was taken out of my bank plus the nsf fee) and then refunded me the amount of the nsf fee.
    As for the bank cashing a cheque earlier than the date, well I called the bank asking how is that even possible with the date saying not to cash until then, and they just told me that basically the date doesn't matter, unless the person entering it, catches it or someone calls in to complain, then they well just enter the date that they received the cheque. And they also said that if it was a big enough problem that I could open an investigation and pay $10.

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  4. I've heard it depends on the bank where the cheque was issued. Some, I believe Royal in my past experience, consider a cheque valid once your signature is on it with the post date being more of a "gentleman's agreement" that the recipient won't cash until that desired date.

    I had something similar happen a couple of years ago with a landlord demanding eight months of cheques at the beginning of the lease to hold on to, then cashing them all at once resulting in almost $400 in nsf charges. But my credit union was quite accommodating in this matter and explain that most of the process is automated like #3 said. I was eventually reimbursed the amount and a red flag was put on my landlord for future deposits.

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  5. OP here. Thanks for all your advice. I did call my bank and they told me the exact same thing as #3. And to #4, what a shitty landlord. :( I went to the kw4rent office and they actually reimbursed me the nsf charge. So it all ended well I guess. :D

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  6. Landlords can't legally require you to provide post-dated cheques. So you don't have to if you don't want to.

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