Postdating cheques

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A potential benefit of this payment method is how it can foster healthy and long-lasting business relationships.

This process can take a few days but, for most cheques, the bank makes the funds available to the customer right away.Here is some helpful information about the use of cheques and how they are processed by financial institutions.All cheques must be processed – or cleared and settled – through the payments system. When you deposit a cheque into your account, your bank will send the cheque to the bank of the person who wrote the cheque.This assessment may be the ultimate difference in assuring that payments via post-dated cheques are likely to be fruitfully honoured or knowing that the business or person is locally considered untrustworthy or dishonourable.Post-dated cheques are not the enemy, but the potential risks are, therefore, do your homework and mitigate them with Cedar Rose.

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