Check Expiration And Cancellation Rules You Should Know About
It’s happened to many of us: A birthday check from Great Aunt Tilly goes AWOL, only to be found months—or years—later in your junk drawer. While your first instinct might be to cash it, bear this in mind: A bank is not required to pay a check that’s more than six months old. The Uniform Commercial Code says banks are under no obligation to accept checks, personal or business, more than 180 days old....