How long can a check be kept?

Do you have a check made out to you that has never been deposited into your account? How long do you have to cash a cheque? How long can you keep it? Discover the subtleties to know in terms of cashing a bank cheque. Despite the new means of payment such as the bank card, the check is still signed today. We tell you everything about its validity period before it loses its value.

How long will a bank check be kept?

The check does not keep forever. From the date written on the title, you have exactly one year and eight days to deposit it in your account. After this time, you can no longer cash the check. Indeed, the document loses all its value and the amount written on it cannot be recovered.

If the check is forgotten or lost, the only solution is to contact the issuing person. Ask him for a new check. Indeed, the claim is still relevant!

How to verify that a check is valid?

To be valid, a check must contain certain information:

  • the sum must be indicated in figures and in words. To be valid, the two amounts do not need to match. It is the one written in letters that will be retained by the banking establishment;
  • the name of the beneficiary must be clearly legible;
  • the bank check must be dated the day of the signature. In the event of an incorrect date (after the day the check was signed), the issuer may risk a fine.
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To be cashed, a check must also be signed on the back by the beneficiary.

Disadvantage of the bank check

The check is neglected in favor of more modern means of payment such as credit card, bank transfer, virtual currency, Paypal, etc. Partly because it is less secure. There are many scams and stolen check scams.

Today, many physical stores no longer accept checks as a means of payment, or they impose a cap. Generally, an identity document is requested in the event of payment by check.

On the other hand, the collection period of one year and eight days can pose a problem for the issuer. Indeed, it is difficult to predict when the check will be cashed. Late filing can lead to cash flow problems.

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