What are stale checks? Does banks honor stale checks? and how often they do this?
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I have read stale checks are those which are presented 6 or more month after its date. whats the date? does check also have maturity dates?Can anyone give me some detail knowledge about it? And does banks honor these checks? if yes then how often (statics 5 out of 10 times?)? Thanks! Note: if any one don't know or don't want to give then kindly don't reply (lame advices).
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Answer:
6 months, but also checks can be written that have an expiration date on them also. Banks don't honor these checks because the bank standing behind the "old" check is not good for the funds after a certain amount of time. They don't want to be stuck with a check for an account that is closed or has insufficient funds.
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