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Issued a Post Dated Check for buying a property

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Mc2012


Arresto Menor

Folks,

Please advise me or allay my fears if unfounded.

I paid for a property by issuing a post dated personal check dated Feb 20th. In the meantime, I have funded my checking account via a Manager's Check from another account last Feb 14th.

The surprising thing is is when I checked by bank online, the funding from the MC is still reflected as TOTAL AMOUNT but not yet in AVAILABLE AMOUNT! Good thing I checked it out online, and I immediately called the bank, and they told me the amount is on hold and I must go to my bank branch on Monday.

The problem is what about the check i issued against this account dated on Monday, Feb 20? Assuming the third party encashes the check on Monday morning, but I fixed the "on hold" funds on Monday afternoon-- will my check be a "bouncing check"?

Please advise-- I'm now quite mad at the bank for holding the funds, yet NOT EVEN contacting me! Buti na lang I check my balances online.

Lunkan


Reclusion Perpetua

BEFORE Monday call them, who have your check, and explain the situation and tell you will have meeting with the bank Monday..

It's kind of a bouncing check, but you would probably not be found guilty if it become a case (but we can never know. Some courts are crazy Sad But it will probably not become a case anyway, specialy if you reach them with the check before Monday. But perhaps they will want some compensation if they got in trouble by the delay.

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