Why can't consumers/businesses choose to ask for a post-dated cheque?
Customers are advised not to accept post-dated cheques because of the problems it creates if it is paid into their bank accounts before the due date. There are no hard and fast rules on how banks deal with these post-dated cheques if they get into the clearings because of the different legal status that they have.
If the beneficiary of a post-dated cheque attempts to pay it into their account prior to the date on the cheque, the beneficiary’s bank may turn it away at the counter but, as the collecting bank, it is not obliged to check the date of the cheque, the bank may not even notice that the cheque is post-dated, the cheque will go into the clearing and the paying bank is unlikely to notice that the cheque is post-dated either. This is where difficulties may arise for the payer of the cheque and the beneficiary.
If the paying bank spots that it is post dated, it will return it with the reason given “post-dated cheque”. This is inconvenient to both the beneficiary and the payer.