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Updated October 25, 2018
You may have found an old check and thought this was "found" money, but it could come back to bite you. Cashing that old check might end up costing several times its value in fees. This could happen because banks are not obligated to cash a check older than a few months. However, the date on stale checks is sometimes taken as a guideline, not a hard rule.
It's Up to the Bank
Cash Old Checks at Your Peril
You Can Still Collect on the Debt
When to Call it a Day
References
- US Legal: Stale Check Law and Legal Definition
- Bankrate: Essential Things to Know When Cashing Old Checks
- Forbes: How Long are Undeposited Checks Good?
- Consumer Financial Protection Agency. "How Quickly Can I Get Money After I Deposit a Check Into My Checking Account? What Is a Deposit Hold?" Accessed March 30, 2020.
- HelpWithMyBank.gov. "Answers About Funds Availability." Accessed March 30, 2020.
- HG.org. "Consequences of Writing a Bad Check." Accessed March 30, 2020.
- Bank of America. "Financial Center FAQs." Accessed March 30, 2020.
- HelpWIthMyBank.gov. "Answers About Overdraft/NSF Fees and Protection." Accessed March 30, 2020.
- Kmart. "Check Cashing." Accessed March 30, 2020.
- Consumer Financial Protection Bureau. "Can a Bank or Credit Union Cash a Post-Dated Check Before the Date on the Check?" Accessed March 30, 2020.
Writer Bio
Russell Huebsch has written freelance articles covering a range of topics from basketball to politics in print and online publications. He graduated from Baylor University in 2009 with a Bachelor of Arts degree in political science.