Pre-Check Dated: What it is, how it works and how to do it

The post-dated check is one of the methods still used in Brazil to make purchases on credit, giving the buyer a few days to pay for the product.

But do you know exactly what a post-dated check is and how it works?

In this article, we'll show you everything you need to know about it so you can fill it out correctly and avoid problems with your check.

Stay tuned to the end and get your questions answered about post-dated checks.

What is a post-dated check?

Simply put, a post-dated check is a regular check, where, when you fill in the date, you stipulate the date on which it will be cashed.

It's a way to make a purchase in installments and pay later, ensuring you have the money until the time of payment.

Thus, it's a payment model, similar to a credit card. You agree on a payment date and then fill out the check so it's cashed on the date stipulated in the payment. However, it's important to understand that it's not as functional or secure as a card.

How does a post-dated check work?

A postdated check works quite simply. It functions the same way as a regular check. It's a document that allows the recipient to withdraw the specified amount, either in cash or by depositing it into their account for clearing.

The difference is that you'll set the date on which payment should be made. This date must be mutually agreed upon by you and the person you're issuing the check to.

Even though it is possible to make the discount before the date, the agreed and recommended date must be stipulated in that title.

How should I fill out the post-dated check?

Filling out a post-dated check is very simple, just like any other type of check.

Here are some tips to help you fill out the form completely and avoid problems with your check:

• Start by filling in the basic check information, which is: check amount, payee name, signature, and date.
• The detail you should pay attention to is the date. This should be filled in according to the day the check is to be cashed. This depends on the agreement between you and the beneficiary.
• After filling out your check completely and correctly, you must write, on the front or back, the following phrase: “Good for” and add the date that was agreed upon for the post-dated check.

In addition to this basic filling, you still have two questions that are important, especially for this type of check, and that will help with the security of your document:

• Whenever possible, make the check payable, that is, fill in the name of the person who will receive the amount.
• Cross the check (two diagonal lines in the corner of the check) so that it can only be deposited and not cashed directly.

This way, you can have a little more security when filling out the form and everything will be ready for it to be discounted at the right time.

Can a post-dated check be cashed earlier?

Even if a post-dated check has a pre-established date, it's possible for it to be presented to the bank before that date. It's worth remembering that a check is a payment document. Therefore, when it has a future date, it's by agreement between both parties.

However, according to the Consumer Protection Code, it is possible to take legal action against anyone who cashes a post-dated check before the due date, making them pay compensation for moral damages, as there was a breach of agreement.

To provide greater security, it is important to always include information on invoices and other documents that the agreement was for payment in installments and the date of each check, thus providing greater security.

How do I cash a post-dated check?

To cash a post-dated check you may have received, the procedure is very simple and works the same way as other checks:

• On the stipulated payment date, you must go to the bank, present the check and your documents to cash it and collect your money.
• In the case of a crossed check, which happens with most post-dated checks, you must deposit the check into your account on the scheduled date to avoid any problems.

From then on, in the case of a deposit, you will wait up to 2 business days to receive it and the money will be in your account.

Precautions with post-dated checks

There are some basic precautions you should take when issuing a post-dated check that will provide greater security for the transaction, ensuring that it is actually deposited on the day the agreement was made:

• When filling out the form, include the date on which the discount should be made, never the date of purchase.
• On invoices, determine the agreed date for payment of the post-dated check.
• Make the check payable.
• Do not sign the back of the check to prevent it from being passed on to third parties.
• Make sure you are writing a check to someone you trust.
• It is recommended that you cross out the phrase “to order” and write the information “not to order” or “endorsement prohibited” to make your check more secure.

With this information, your post-dated check will certainly be more secure and you'll be able to make your purchases. Remember that there are other ways to make installment purchases, such as using a credit card.

Frequently asked questions

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