Jay H
Senior HTF Member
Background
Say, you have a checking account where you get charged a lousy $10 service charge anytime your account goes below say $1000.
Situation
Say you need to pay off your VISA bill but doing so will drop your account below the magical $1000 limit. However, payday is say in 3 days from now and then you'll have enough to cover the VISA bill. You can't procrastinate on the bill or else you'll pay late fees/interest. If you were to send out the check, when is the check actually debited out of your account, the day the payee cashes it or the date on the check itself? If I sent out the VISA bill knowing that it will take 4-5 days at least to get there and be processed, would I be safe in doing that knowing that I'll get paid in 3 days and my check will clear in about 4 days? Or do the banks use the date on the check and say "HA HA, sucka"
Just wondering if I should post-date the check because of this...
Jay
Say, you have a checking account where you get charged a lousy $10 service charge anytime your account goes below say $1000.
Situation
Say you need to pay off your VISA bill but doing so will drop your account below the magical $1000 limit. However, payday is say in 3 days from now and then you'll have enough to cover the VISA bill. You can't procrastinate on the bill or else you'll pay late fees/interest. If you were to send out the check, when is the check actually debited out of your account, the day the payee cashes it or the date on the check itself? If I sent out the VISA bill knowing that it will take 4-5 days at least to get there and be processed, would I be safe in doing that knowing that I'll get paid in 3 days and my check will clear in about 4 days? Or do the banks use the date on the check and say "HA HA, sucka"
Just wondering if I should post-date the check because of this...
Jay