Which ATM accepts personal checks?
How do banks deal with retrospective checks deposited at the ATM?
A deposit at an ATM, and since most ATMs do not scan or OCR the check, a check must be made for the date, amount, payee name and proper notices. However, most banks, at their own discretion, can either refuse or negotiate an retrospective check as if it contains the current / past date.
Since most "retrospective" checks are made against the account that they do not have sufficient funds to cover, depositing a check before the intended written date is more likely to be returned for insufficient funds. Since banks charge an often exorbitant fee for frequently cashed checks, it is in their best interest to process, ricochet, and collect the fee rather than rejecting it. In fact, this result is inevitable when the check is processed through an automatic deposit (as opposed to being presented at the bank against which it was made out).
A "check" is a tradable instrument for immediate negotiation, NOT a promissory note. It should also be borne in mind that in some countries, writing a post check and arriving at the issuing bank earlier than the date and assuming that the account it was drawn on does not have sufficient funds to complete Pay the full amount It may be the subject of a criminal investigation and possible charges will be brought by local law enforcement agencies.
A typical bank deposit / account agreement contains terms that are worded as follows:
Post Checks If a retrospective check - a check dated in the future - is presented for payment, we may pay the check and debit your account, even if it is presented for payment before the date stated on the check. If you do not want us to pay an obsolete or retrospective check, you must place a payment stop order on it.
The only way to ensure that a retrospective check you present to someone else is cleared once it gets to the bank it was drawn on is to not write it unless you can exceed the full amount. To ensure that a check you have paid is not returned, please do not pay it in until the date on the front is current or has recently expired.
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