A dated check is different from a postdated check, which is a check with a future date specified on it. When a check is postdated, you can cash the check on or after the date specified. Ultimately, it may depend on the type of check involved, explained in detail below, and what the bank chooses to do. We are an independent, advertising-supported comparison service. One exception is with money orders issued by the United States Postal Service (USPS)3.
Learning how to set up direct deposit for regularly recurring deposits like payroll checks could make life a little easier—and give you one less item on your to-do list. Many checks, including personal checks, have a 6-month expiration date. Other types of checks can take longer to expire or may not expire at all. Ruled that banks can retrieve funds after the issuer’s requested void period unless that person specifically instructed the bank not to honor the check after that time frame. It’s always best to cash or deposit checks as soon as they are written out of courtesy to the issuer. However, if you find a check that’s beyond its “sell by” date, contact the issuing bank and your bank to find out whether or not you can still use it.
Checks from the federal government, such as federal income tax refunds, vary when it comes to the timeline. State and local governments may set their own expiration dates, so if you lose the check or more than six months have gone by, it’s best to contact the agency that sent it to you. Most banks will honor a check for up to six months or 180 days after it was written. Exceptions include several types of government-issued checks, like tax refunds and U.S. Cashier’s checks do not officially have an expiration date, but this does not mean they are good to use indefinitely.
Claire is a senior editor at Newsweek focused on credit cards, loans and banking. Her top priority is providing unbiased, in-depth personal finance content to ensure readers are well-equipped with knowledge when making financial decisions. Some courts have found those time-limiting statements to be unenforceable, but don’t count on that in every case. Still, it’s best to honor any language on a check—either deposit the check promptly or contact the check writer if you can’t make the deadline. Traveler’s checks never expire as long as the issuing bank is still in operation.
Check the fine print on the back of your money order for specific terms. No, you cannot cash a 2-year-old check into your bank account. This is because most banks consider checks invalid after six months has passed from the issue date.
If you wrote the check, the only way to guarantee that you will not be liable for it longer than six months is to place a stop payment order on it. An oral stop-payment order expires after 14 days, and a written stop-payment order expires in six months. You must renew stop-payment orders every six months to ensure that you are not held liable for old checks; banks typically charge a fee for each order.
Can I Cash a 2-Year-Old Check Into My Bank Account?
If you have an old check, then you must contact the agency that owes you that money. They can check the fact that you did not cash in the check, and should release you a new one. Certified checks, unlike personal checks, typically do not have an expiration date. When a check is certified, the bank verifies that there are sufficient funds in the account to cover the amount written on the check and sets aside those funds to guarantee payment.
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MarketWatch Guides may receive compensation from companies that appear on this page. The compensation may impact how, where and in what order products appear, but it does not influence the recommendations the editorial team provides. An expiration date can be somewhat of a nebulous term and is often confused with a best-by date. In general, an expiration date is when a food is considered no longer safe to consume to avoid illness. Checks drafted to a specific recipient, known as a payee, over six months old how long are checks good for? are at risk of not being cashable. Waiting to cash a check also increases the chances of insufficient funds being available to cover the check.
What Is the Validity Period for Various Types of Checks?
Someone who wrote a personal check is probably not prepared for the hit their checking account balance will take if you cash it months later. Before cashing a check after the requested time frame, consider the reason for the payer’s request. It might be the case that they’re living on fixed income and won’t have the funds available after the specified time frame.
These affiliate earnings support the maintenance and operation of this website. Even if the person had the funds in their account at the moment of writing the check, it doesn’t mean they will still have it six months later. No one expects their checks to hit six months, so they might not have the money placed aside for you anymore. Checks – it’s been a while since anyone’s heard about them, right? However, even if everyone is now busy with bank transfers and debit cards, there are still some people that just prefer signing checks. It saves them the trouble of going to the bank – and let’s face it, they feel fancy.
Plus, the person who wrote the bounced check might be charged a nonsufficient funds fee. Banks are still allowed to process a stale check as long as the institution deems the funds are good. A Federal Reserve regulation says a bank doesn’t have to deposit a check if it has reason to doubt that it’ll be able to collect the money from the paying bank. However, the institutions and companies that issue them may have rules determining when unused money orders become considered abandoned property. They may also charge fees that eat away at a money order’s value.
- Other types of checks, like certified checks or government-issued tax-refund checks, may have a longer expiration or none at all.
- If you find an expired check, your first action should be to call both your bank and the issuing bank to learn about their policies.
- They may also charge fees that eat away at a money order’s value.
Can You Cash a Check at an ATM?
The check writer might have assumed you have already cashed the check and may no longer have sufficient funds in the bank account to cover it. Many checks, especially payroll checks, contain fine print that voids the check after a certain period, such as 90 or 180 days. Other types of checks will have specific expiration timelines. While checks may not have explicit expiration dates, they can become outdated. Typically, this will happen after six months, but this timeline can vary.
- Jackie is based in Los Angeles, and loves to bike, swim and play with stickers.
- Rohit has extensive experience in credit risk analytics and data science.
- All Credit Intel content is written by freelance authors and commissioned and paid for by American Express.
- Be aware that the issuing bank is not under obligation to cash a check for a noncustomer, regardless of expiration.
When you find an old check, it’s always wise to call the bank and find out its current status before attempting to cash or deposit checks into your account. Consider setting up direct deposit into a checking account or savings account for recurring payments like wages. Stale-dated checks aren’t necessarily invalid, but banks may choose not to process them due to the risk of insufficient funds or other issues that could arise over time. Therefore, it’s essential to cash or deposit a personal check within a reasonable timeframe to avoid complications.
Rohit has extensive experience in credit risk analytics and data science. He spent years building credit risk and fraud models for top U.S. banks. Stilt is backed by Y Combinator and has raised a total of $275M in debt and equity funding to date. When you void a check, you prevent anyone from filling it out and using it to withdraw funds from your account. It’s a security measure to safeguard against unauthorized transactions. They’ll also check the drawer’s account to ensure it is valid and have sufficient funds, etc.
What Happens If I Never Cash a Check?
A check with “void” written on it means no one can cash or deposit it. A check can also be considered void if it’s missing critical information or goes through the escheat process. When you cash a check, the bank or credit union gives you cash in hand in exchange for the check. Unless otherwise stated, most checks are good to cash within 180 days.
After that, it may be at the bank’s discretion whether they will honor the check. In some cases, you may need to request that the issuer issues a new one. Unless you have a government-issued check or certified check, it’s wise to deposit checks within six months. Doing so prevents confusion at the bank and lets the check writer know that you’re ready to collect your money. Some banks may allow you to deposit a check that’s gone stale if they believe the funds will be available.
Having a check well beyond six months old can make cashing it difficult, but not entirely impossible. Theoretically, you can cash that check, but it depends on the bank. Every bank has a different policy when it comes to cashing old checks. If you go to your bank’s ATM, you’ll most probably get 100% of the amount stated on the check. Not all banks charge the same for depositing a check, so if you want to avoid additional expenses, try to find an ATM from your bank. A personal check is a document that orders the bank (in which you have an account) to pay out the sum specified on the check.
