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An expiration date on a check -- such as a statement along the lines of "Void if not cashed within 60 days" -- might prevent you from cashing it even before the six-month period is up. But Chuck Jaffe of MarketWatch writes that those dates aren't as inflexible as they seem. Unless the writer of the check tells the bank to specifically deny a check after the expiration date, it's likely to go through. The six-month rule also doesn't apply to certified checks. A certified check is an essentially open-ended guarantee of payment by the bank. When a bank issues a certified check on behalf of a customer, it takes the money out of the customer's account and moves it into a special account belonging to the bank. That money remains there until the check is presented for payment -- however long that takes.
An expiration date on a check -- such as a statement along the lines of "Void if not cashed within 60 days" -- might prevent you from cashing it even before the six-month period is up. But Chuck Jaffe of MarketWatch writes that those dates aren't as inflexible as they seem. Unless the writer of the check tells the bank to specifically deny a check after the expiration date, it's likely to go through. The six-month rule also doesn't apply to certified checks. A certified check is an essentially open-ended guarantee of payment by the bank. When a bank issues a certified check on behalf of a customer, it takes the money out of the customer's account and moves it into a special account belonging to the bank. That money remains there until the check is presented for payment -- however long that takes.
Kudos for doing your research, but things like stale dated checks are really left up to the discretion of the receiving branch. At MY bank, tellers are trained not to accept checks older than six months, or checks that specify a VOID date that has passed. Making an exception to this rule, more often than not, puts the bank at risk. After six months (much less two years), a) the money may not be available anymore, b) the check may have been stopped, c) another method of payment may have been given, or d) the account may be closed. Since most banks give their customers next-day availability, you would have access to spend the money before the item formally clears and IF it returns, the bank must then retroactively collect the funds and possibly charge fees. The whole scenario becomes a hot mess, so trepidation is not unwarranted.
Money orders and certified checks are good for a year at the very least, but I've seen up to seven years. It varies from state to state, so it may be worth checking with your local bank. Unfortunately the money does not just sit in an account until you cash it-- it can be escheated to the state as abandoned property after a certain time period.
Easiest thing to do would be to have the check reissued, or encourage the bank to contact the check's maker to give approval for the payment of funds.
I just found a sealed envelope from my University and when I opened it, there was a 4,000 check that was issued to me dated 12/5/2005. It was most likely a financial aid check that I was not aware I had but am still paying for on my student loans. I notified the school pending their response. I'm expecting them to re-issue it since I have to pay it back.
I just found an old Paycheck from my old job dated 9/27/07 I was in the Hospital at the time and when someone got all my mail they just put it in pile in a desk, and I just now found it, so I'm going to have to investigate and see what I can do about getting my money.
I once found a paycheck in an old coat for around $300. I was about 21 when I found the check, and it was a check from a place I worked it when I was 18.
I have worked very hard to get where I am and $300 (especially at that age) isn't typically an amount I would just forget about. Needless to say I was ecstatic when I found it and very surprised I never cashed it.
I contacted the company I worked for and they reissued it!
If the check you have is less than $1000, then you might be able to deposit it into your account. However, would there be any fund on the check, you will have to check it out with the bank or the maker of the check. You might be able to stop by a local branch and ask them if there's sufficient fund in the account to cover the check, usually they can disclose that to you without telling you exact amount that the account has.
If the check is more than $1000, then chance is that you won't be able to deposit it or cash it because banks have regulations that they have to follow, and is always apply when the amount gets up to $1000. The 6 months period that everyone mentioned about is true, but it doesn't always apply. Sometime banks just take the check and deposit it into the account when the amount is not that much because they can afford the loss of those small amount of check.
I found a check for $1100.00 that I must have overlooked. Anyhow it expired on March 25th 2016. It is now Sept. 24,2016. It's from my workers comp. insurance fund. Should I try to deposit it?
It seems that checks are cleared without great scrutiny (a least that is how the systems are setup) and exceptions are dealt with after the fact upon a challenge. I have encouraged people holding checks from me (we distribute earnings from a family trust) that are several years old and all clear without problems.
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