Stale chq

Lee

I did not know cheques now can be cashed even after 6 months of chq date? Is it just me who is behind time? All along I used to think cheques expire after 6 months and if anytime tries to cash them the bank will return them with reason "chq stale"!!

PGM

Lee wrote: »

I did not know cheques now can be cashed even after 6 months of chq date? Is it just me who is behind time? All along I used to think cheques expire after 6 months and if anytime tries to cash them the bank will return them with reason "chq stale"!!

Is it?! I always thought it was 6 months..

Monsoon

Used to be 6 months. I have a feeling there's no expiry now?

Louise89

Weird.. Maybe the bank clerk didn't check the date? Has the money actually come in?

PGM

That wouldn't surprise me. I once gave someone their expenses cheque and forgot to sign it. For some reason they took it to the bank knowing this, but it went into their account with no issues!

Louise89

Ah - but did they sign it themselves? Surely no signature = no money? I know of people that have written the date in if it has been missing.

PGM

Louise89 wrote: »

Ah - but did they sign it themselves? Surely no signature = no money? I know of people that have written the date in if it has been missing.

They just paid it in as it was, I guess its easy for them to slip through the net.

janwal

They changed the rule it is now upto the bank and businesses, some bank accept and some don't, I work for the NHS an our bank still has the 6 month rule, but a lot of the high street banks have dropped it.

Blonde Accountant

I was told by a legal guy at the bank that a chq is valid for 7 years and he sent me copies of legal legislation to back it up, as at the time (this was a couple of years back) I was working for a Police Authority doing the bank rec and someone had cashed a 5 year old chq. Obviously this had been written off quite a while ago, so after an awful lot of ringing round that is what I was told.

HTH Nicola