The question is: What is one of the easiest and more important goals we can individually set and accomplish in the days and weeks to come? See the Title above!
This is especially true when writing personal checks for certain payments by check each month. Here are some facts and answers as to what happens if, this week you have written your CMP, your Time Warner / Spectrum Cable, or your oil company a check for the 200 gallons of oil just delivered, and those checks are dated January 5th, 2016 instead of 01/05/2017!
When you talk to most large providers such as the Cable giants, your major utility companies and cell phone carriers, they will “simply cash the funds” date-regardless, and the key question is if your bank will then release the funds, or not. And because the major utility had zero difficulty with “funds not being available” the worst thing that may happen is that your bank may notify you that you would need to re-issue a new check – properly dated of course – to the Utility / the entity you are paying, creating a delay in your funds being finally received by those named on your check(s).
The Uniform Commercial Code, which is a standard set of business laws that governs financial contracts and has been adopted by most states, says that a bank does not have to accept a check more than 6 months old. It is up to the bank.
So what can you do to avoid the 2016-2017 possible error? Personally, this time of year I write ’17 or 2017 on the next couple of checks in my checkbook “ahead” and fill in the exact date the day I write out a check. Hope that may help you too!
Local Event Note: A movie we enjoyed recently is being shown for free – based on the New York socialite of the same name Florence Foster Jenkins – with snacks provided as well this week at the Windham Public Library on Wednesday, January 18 starting at 1 PM, ending a few minutes before 3pm. Call 207-892-1908 if you seek more information. It is a family friendly movie geared for adults.