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Locked: Do Cheques Expire?

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  • Jan 31st, 2006 2:36 pm
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[OP]
Sr. Member
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Oct 31, 2005
534 posts
Brampton, Ontario

Do Cheques Expire?

Hey, I've got a couple paycheques that I haven't deposited yet though I don't want to actually deposit because I'm scared of spending it. So is there a certain time limit on when I could deposit it, or could I just keep on saving them?
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Deal Addict
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Aug 28, 2003
1330 posts
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Toronto
6 months on personal checks
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Dec 21, 2004
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shad0w* wrote:Hey, I've got a couple paycheques that I haven't deposited yet though I don't want to actually deposit because I'm scared of spending it. So is there a certain time limit on when I could deposit it, or could I just keep on saving them?
As far as I know, no. At least no set expiry. I suppose the company could put a stop payment on them, although I don't know if they can do that legally if it's a paycheque.

FWIW, companies HATE when you hold onto cheques because it messes with their accounting. I used to love holding on to small $5 rebate cheques for this reason until companies started putting expiry dates on those. I actually got a letter once from Black and Decker to please cash my rebate cheque (of $10 which I had forgotten about) and that if I had lost it, please contact them so they could mail me another! Think that'll ever happen again?
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Aug 20, 2004
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really, no expiry?? I have a University of Toronto cheque here for the dental plan from 2001 ... think they'll let me cash it?? :lol:
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Deal Expert
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Jun 14, 2003
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There is an expiry day. At least, it won't be forever.

If I were you, I won't take the chance. What if the company goes south suddenly? What if you lose the cheques? What if there is a fire?

If you worry about spending it, open a new bank account and never withdrawal from it.
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May 1, 2005
392 posts
I certainly hope they don't expire! I've got a $0.67 paycheque from London Drugs that I'm saving for a rainy day. It's probably 5 years old or so. :)
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Jun 14, 2003
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diddy321 wrote:I certainly hope they don't expire! I've got a $0.67 paycheque from London Drugs that I'm saving for a rainy day. It's probably 5 years old or so. :)
It sure can fence off a drop of rain. ;)
[OP]
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Oct 31, 2005
534 posts
Brampton, Ontario
I really dont wanna spend it =(
In my bank account, there's a checking and savings account.
Does it matter which I deposit it into?
Deal Expert
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Jun 14, 2003
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shad0w* wrote:I really dont wanna spend it =(
In my bank account, there's a checking and savings account.
Does it matter which I deposit it into?
If you really don't want to spend it, open an account in (says) PCF.
If it is not in the same bank you are doing usual bank activities, you may not spend anything there. Or, you get a money market fund and dump the money there.
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Sep 6, 2002
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Open an ING account, mail them the cheque. Decent intrest rate, free account. You wont even have the card for 2 weeks and even when you do just dont use it. The ING card also doesn't work like an interact card, it only works at ATM's. Which could be a good or bad thing depending how you use your debit card.
Did I post something that interests you? Feel free to PM further questions.
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Jul 21, 2003
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Look what happened to Jerry Seinfeld - he cashed in all of the Birthday cheques [over the years that his Grandma had given him], and then she was overdrawn as a result!!

{Cash your cheques, already - you can keep it deposited, and just not spend it. Until you see a good RFDEAL! :) }
Member
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Nov 10, 2005
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Toronto
http://www.cdnpay.ca/faqs/cheques.asp#7
It says 6 months, but it might still be accepted. I think personal cheques will not be accepted after 6 months and other cheques (such as rebates, cheques from UofT etc.) will not be accepted after 1 year from the cheque date. I think most Canadian banks follow these procedures.
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Mar 6, 2004
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bnb wrote:http://www.cdnpay.ca/faqs/cheques.asp#7
It says 6 months, but it might still be accepted. I think personal cheques will not be accepted after 6 months and other cheques (such as rebates, cheques from UofT etc.) will not be accepted after 1 year from the cheque date. I think most Canadian banks follow these procedures.
Some even state "not cashable after XXXXXX" right on the cheque itself.
vero95: :facepalm:
Jr. Member
Jun 3, 2004
177 posts
usually expires in 6 mths

however.. if your check expired you may ask the sender to reissue the check

i recently found a check issued by the government.. i sent back the original check and asked for a new check.. they reissued me a check of the same amount

i assume this is the case with many companies
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Dec 21, 2004
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I know for a fact that Cheques from the Receiver General NEVER expire
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