Business & Finance

cheque shelf life ?

is there a time limit on cheques (to deposit) ? doing clear out found one dated 17/02/06 . thanks for any responce .

thehoopedone Mon 08/09/08 12:29

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Ethel
Mon 08/09/08
12:30

There isn't but banks do have the right to refuse them after 6 months.

Return to the issuer and ask for another cheque

squarebear
Mon 08/09/08
12:30

No chance. It's about 6 months at best.

4getmenot
Mon 08/09/08
12:32

yes agree 6 months

thehoopedone
Mon 08/09/08
12:37

Question Author

thanks folks

kempie
Mon 08/09/08
15:38

A cheque is legally valid for 6 years. However, the above statements echo common banking practices.

This is from the APACS (Association for Payment Clearing Services) website;

"It is common banking practice to reject cheques that are over six months old to protect the payer, on the basis that payment may already have been made by some other means or the cheque may have been lost or stolen. However, this is at the discretion of individual banks. It should not be assumed that cheques in excess of six months old would automatically be rejected — the only certain way to cancel a cheque is to request that a stop be placed on it (although cheques backed by a Cheque Guarantee Card cannot be stopped). It is recommended that, if possible, customers in possession of cheques that are over six months old obtain a replacement. A cheque remains legally valid for six years."

http://www.apacs.org.uk/resources_publications /faqs/cheques_10.html

thehoopedone
Wed 10/09/08
19:00

Question Author

big thanks kempie

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