Personal Finance

I deposited a stale check, what will happen?

  • Last Updated:
  • Jun 13th, 2016 8:54 pm
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[OP]
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Oct 3, 2006
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I deposited a stale check, what will happen?

I just deposited a 184 days old check via TD's mobile app. What will happen?
19 replies
Member
Aug 20, 2014
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Toronto, ON
Aznsilvrboy wrote: I just deposited a 184 days old check via TD's mobile app. What will happen?
You'll know tomorrow, I'm curious too! ;)
Deal Fanatic
Apr 20, 2011
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ON
Depends what the issuing bank does.
It's only 1-2 days past, they will probably process it without issue.
TD will only come after you if the issuing bank bounces it.
6 months is not automatic cancellation, it just means they no longer have to honour it (but they still can process it if they want to).
Deal Addict
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Dec 12, 2006
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Messed Up Area
banks don't have to cash it after 6 months, but many cash cheques that are less than a year old. Over a year and no bank will cash it.

Since you did it through app, chances are it may get returned, goto a branch if it gets rejected from app.
Banned
Mar 11, 2016
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curious...several yrs ago if the chq was less than 5,000 then it would just clear as no human eyes would look at it...perhaps it is not the same using the mobile app
Deal Addict
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Nov 18, 2012
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Nothing happen unless the payer refuse to pay.

Don't touch the money in one month, after that you will be fine.
Simple is the best.
Deal Addict
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Sep 9, 2012
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iamthebest wrote: But if it get refused you could expect a NSF fee...
No. An NSF fee is charged when you write a cheque on your account that bounces. You do not get charged if you deposit a cheque that gets returned.
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Sep 9, 2012
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blackart wrote: Nothing happen unless the payer refuse to pay.

Don't touch the money in one month, after that you will be fine.
This.
Deal Expert
Aug 22, 2011
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I deposited a year old MBNA rebate cheque and it was accepted.
Penalty Box
Dec 27, 2013
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Aznsilvrboy wrote: I just deposited a 184 days old check via TD's mobile app. What will happen?
you will not pass go, you will not collect $200.. you will go directly to Jail.
Penalty Box
Dec 27, 2013
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iamthebest wrote: But if it get refused you could expect a NSF fee...
i am the best at not knowing what I am talking about.
Deal Addict
Feb 2, 2011
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Was the cheque personal? business? federal? You'll have varying degrees of success depending on the issuer.
[OP]
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downd wrote: Was the cheque personal? business? federal? You'll have varying degrees of success depending on the issuer.
It was a check from a class action lawsuit.
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Mar 3, 2005
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if it was one of the mass settlement cheques for memory/LCD, etc. ($20 cheques for most people). They will probably be quite strict on the timing. I imagine the payor's bank will return the cheque.

There are deadlines and procedures to distribute the remainder from the settlement pot and these companies that administer distribution don't want the liability hanging around for ever.

My bet is the cheque will be returned if this is a big consumer class action.

PHT
[OP]
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Oct 3, 2006
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hopetindall wrote: if it was one of the mass settlement cheques for memory/LCD, etc. ($20 cheques for most people). They will probably be quite strict on the timing. I imagine the payor's bank will return the cheque.

There are deadlines and procedures to distribute the remainder from the settlement pot and these companies that administer distribution don't want the liability hanging around for ever.

My bet is the cheque will be returned if this is a big consumer class action.

PHT
hopetindall wrote: For the DRAM Class Action:

http://www.cfmlawyers.ca/dram-update-20 ... mber-2016/

They posted a reminder in early June.

The cheques sent will become stale-dated on June 11, 2016. Cash your cheque now, if you haven’t done so already.
Yes it was exactly that. I deposited it on the 12th...
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will be interesting to see. Good luck - you might be lucky;

let us all know what happens.

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