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I just found a paycheck from my old work that is dated August 5th, 2013. It's for over $300 and I'm wondering if it will still go through.

I'm worried that it will bounce or there will be some issue with depositing it. I'm also annoyed that the accountant didn't say anything for all that money that was missing... and the company was audited a few months later and no flags were raised.

Note: There is not a listed expiration on the paycheck, the company and I use the same bank (Wells Fargo), and we're both in the US.

It's Saturday March 1st 2014, over 6 months later, the bank is closed today, and I'm freaking out over potentially losing over 300 dollars.

My question is..

  • Should it go through?
  • If it doesn't, would it be wrong to ask my (old) work for the money?

EDIT: I decided to deposit it online (via mobile banking app) and I should get a response if it went through or not on Monday. It if doesn't go through then I'll take the next step and go to the bank to see what can be done.

UPDATE: It went through, no problems!

Collinux
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6 Answers6

24

The two banks involved may have different policies about honoring the check. It might not be written on the check.

Your bank may decide that the stale check has to be treated differently and will withhold funds for a longer period of time before giving you access to the money. They will give time for the first bank to refuse to honor the check. They may be concerned about insufficient funds, the age of the check, and the fact that the original account could have been closed.

If you are concerned about the age of the check. You could go to your bank in person, instead of using deposit by ATM, scanner, or smart phone. This allows you to talk to a knowledgeable person. And if they are going to treat the check differently or reject the check, they can let you know right away.

The audit may not have been concerned about the fact that the check hadn't been cashed because when they did the audit the check was still considered fresh. Some companies will contact you eventually to reissue the check so you they can get the liability off their books.

If the bank does refuse the check contact the company to see how you can get a replacement check issued. They may want proof the check can't be cashed so they don't have to worry about paying you twice.

mhoran_psprep
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The check is just barely over 6 months old. I suspect it will go through with no issues.

Alex B
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This varies by jurisdiction somewhat but speaking as a Canadian, a small business owner, and accountant (unregistered but some courses and accounting for multiple businesses) this is the answer if you were in Canada.

In Canada the cheque cashing limit is 6 months. Therefor any bank will refuse to cash this cheque.

It would be totally morally and legally acceptable to ask for a replacement cheque from your employer. In Canada they would generally have no problem issuing a replacement; in other jurisdictions with differing time limits they might want to cancel the original cheque first.

Nick Dickinson-Wilde
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5

Look up escheatment.

Companies that have unclaimed property are supposed to send it to your State government. They should have a unclaimed property department of some sort.

In short, the company is going to have to pay either you, or your State (In Your Name) so they have to pay it either way.

It would be easier for them to just give you new check. Expect them to give you some grief in verifying it has not been cashed and such... but if you have the original, in hand, it shouldn't be too bad.

A 'Lost' check may be harder to get replaced. Not a lawyer, don't want to be.

littleadv
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Marc
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The typical rule in the US is 180 days, but some banks do it differently.

However, even if the check is dead, you should be able to call the payroll department for your old job. They can stop payment on the old check and issue you another one.

The Spooniest
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In the UK the official rule is that a cheque is valid for 3 years from the date it was wrote.

However after 3 months some banks can choose to turn them down.

I had a cheque once that was a year old which is when I looked it up to see whether it was stil valid, and I found the laws regarding it then. I was actually quite surprised it was 3 years!

Btw if it does bounce your quite entitled to ask your employer for a replacement cheque. They owe it you and it's just sat in their account assigned to you anyway.

TheKLF99
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