Not all banks charge the same for depositing a check, so if you want to avoid additional expenses, try to find an ATM from your bank. Mostly used for federal tax returns, these documents allow you to collect money from the government, IRS, etc. They are good for one year after they’ve been issued, so be sure to cash them before the deadline.
If somebody worries that a check got lost, they may decide to stop payment—an order not to pay a check that has been issued, but not cashed—on that check. The bank will then reject your deposit, and it’ll bounce back to your bank unpaid. That said, stop payments are one situation when it may actually work in your favor to deposit a stale-dated check—because stop payment orders eventually expire. A bank may not be liable for a stop payment if you fail to provide enough information to identify the check or if you do implement the stop payment order early enough.
Expiration of Business Checks
American Express advises customers with old traveler’s checks, which do not expire, to simply use them as they would normally. Cashier’s checks are considered “official checks” that are backed by an issuing bank. For example, government checks, certified checks, cashier’s checks and checks drawn from funds at the same institution may clear in a single business day. A bank may also have slightly different processing times depending on how you cash the check – through your mobile banking app, at an ATM and in person at a branch. There’s no need to worry if you come across an expired personal check.
There may be instances when you cannot get around to cashing a check for a period of time. An expired check is known as “stale-dated.” In these cases, it is important to look at some FAQs about when a check expires and what can be done to collect your payment. When you write a check that goes uncashed, you may wonder what to do. If that’s the case, it’s best to keep the funds available in your account for at least six months.
Like many kinds of checks, they’re generally valid for 6 months. Other types of checks, like certified checks or government-issued tax-refund checks, may have a longer expiration or none at all. Usually, funds from a cashed check will be available in 1-2 business days.
Do all checks have the same expiration period?
Sometimes, it might take longer to clear, such as international checks, if a check needs special handling or if an issue pops up. Some banks may allow you to deposit a check that’s gone stale if they believe the funds will be available. But it may help to keep in mind that if there aren’t enough funds to cover the check, you could run into issues with a bounced check and related fees. Waiting too long could also result in the payer stopping payment on the check. If you have a stale check, you may want to try asking the issuer if they’ll cut you a new one. Someone who wrote a personal check is probably not prepared for the hit their checking account balance will take if you cash it months later.
In most cases, these checks are valid for about one year after they have been issued. If you have an old check, then you must contact the agency that owes you that money. They can check the fact that you did not cash in the check, and should release you a new one. However, depending on the bank that you are cashing the check at, they may or may not take notice of the date. Sometimes, they may choose to process even stale-dated checks for their customers.
What is the Rule for Stale Checks?
However, the bank, institution or company issuing them might have certain rules as to how long you can hold onto an uncashed money order before it becomes unclaimed property. Cashier’s checks may expire after 30 days, 60 days, 90 days or 180 days. If a cashier’s check doesn’t have a “stale” date, it may be good for as long as the bank remains open. Claire is a senior editor at Newsweek focused on credit cards, loans and banking. Her top priority is providing unbiased, in-depth personal finance content to ensure readers are well-equipped with knowledge when making financial decisions. If a check is never cashed, it becomes worthless, and those funds are never withdrawn from the financial institution that issued it.
- Bonnie Honeycutt is a New York Times best-selling editor who also works as a freelance journalist, ghost writer, and writing coach.
- Reach out to the person or business the check came from and ask if they’ll issue a new check to replace the expired one.
- Download our free guide Financial Planning During Uncertain Times today.
If getting to a bank branch isn’t convenient, you may be able to deposit your check at an ATM or through your bank’s mobile app. With mobile check depositing, you sign the check and then submit photos of the front and back of it in the app. But depending on which state it was purchased in and which company issued it, you may be assessed a service charge if you wait one to three years to cash it. If you go to your bank’s ATM, you’ll most probably get 100% of the amount stated on the check.
Credit & Debt
If you try to cash an expired or stale check, there’s a possibility that both your bank and the bank that issued the check may still honor it. And if you discover you have an outdated check, contact the issuer or financial institution. A check with “void” written on it means no one can cash or deposit it.
After a certain period, the business must report and escheat the funds to the state as unclaimed property. Each state has its own requirements, such as a minimum dollar amount or a minimum length of dormancy. Have you ever received a personal check and wondered how long you have before it expires? It’s important to understand the validity period of personal checks to ensure you can cash or deposit them on time.
- Once that happens, the bank may reject your claim and the check will bounce back.
- Some check-cashing services charge exorbitant fees in exchange for this service, but this should never be necessary if you’re a member of a local bank.
- After that, they’re considered “stale.” Legally, banks and credit unions are not obligated to accept stale checks.
- For example, Western Union charges fees to money orders after one to three years.
For the protection of your account, Zelle® should only be used to send money to those you know and trust. Personal checks and company-printed checks share the same expiration rules, regardless of any printed statements on the check suggesting shorter expiration periods. Postal Service money orders are exceptions, as they do not have expiration dates. Depending on the type of check, the validity may be as short as 90 days and as long as a year. However, to make sure you do not lose that money, you may want to cash in the check as soon as possible.
It usually takes about 2 business days for a check to clear, though it may take more or less time depending on the circumstances. For example, government checks may only take 1 business day to clear. Banks are generally required to make $225 of a personal check available for use the next business day. So, if you deposit a check for $225 or less, the funds should usually be available within 1 business day. However, this rule doesn’t apply to accounts opened in the last 30 days.
If you find an expired check, your first action should be to call both your bank and the issuing bank to learn about their policies. But circumstances and bank balances can change drastically in a matter of months, so after some time, there’s less confidence the funds will be available. Although the validity remains the main concern, there are two ways in which you may proceed in regard to checks. According to the Uniform Commercial Code, it is expressed that a bank is not required to honor an old check, but may still do so. You may just have to take a few extra steps before that – or find a bank that is willing to cash your check anyway.
On the other hand, your bank might accept the check, but the issuing bank might still reject it. In this case, the check funds may be removed from your account, and your bank may charge how long is a personal check good for you a fee. When you cash a check, the bank or credit union gives you cash in hand in exchange for the check. Unless otherwise stated, most checks are good to cash within 180 days.
Cashier’s checks do not officially have an expiration date, but this does not mean they are good to use indefinitely. Each bank will treat cashier’s checks differently and funds may be considered dormant after three to five years. If this happens, the funds will become unclaimed property according to state law. A lost cashier’s check will require an indemnity bond before it can be replaced.