You all might be knowing that Cheque’s still have their importance even in this digital world of banking. It’s no wonder that the digital banking system has been active for a prolonged time in the past, and it is progressing ahead too. However, most of the corporates still rely on Cheques for the disbursement of money. Let’s get into one such scenario of Cheque that is given with a date in the future.
What is a Post-Dated Cheque?
A post-dated cheque is Cheque that is written with a yet to come date. The banks also have a set of rules that govern the cheque payments. However, many times, banks discourage post-dated Cheques.
Issues with Post-Dated Cheque?
There are no precise guidelines on how banking institutions deal with post-dated Cheque. If the Cheque’s are rewarded in advance to the due date, on the other hand, it’s to be expected that if your bank advertises a post-dated cheque that you have written, it will come back to you with the purpose-specific as “post-dated cheque.” This is to be expected to be troublesome to both you and the individual or corporate you have given the Cheque to. There are many chances of banks returning the cheese, and this creates a problem in disbursements of payments.
What solution does the new age bring?
If you wish to make a person-to-person disbursement on a specific expected date, it may be desirable to use the new age internet banking or mobile banking. This has got additional benefits, and you can get many other flexibilities too.
Read Also:Â Online Internet Banking & Pros & Cons
