I would like to know if post dated checks are used in US Banking?Say for example in take a loan for 50000$ Tenure :12 months.I give my bank 12 future dated checks.How is this condition handled in US banking.

Thanks
Sandeep

No US banks do not do this, they merely expect you to pay when the monthly payment is due, or send a statement

In some loan companies, it has been done, but I would worry about any bank that asked for that.

In giving a post dated check - what guarantee do you have that the checks will be held until the date? My neighbor gave three post dated checks to her dentist and the dentist ran all three through the bank at once and the bank let them go through.

Many companies will not accept post dated checks, because they do not have the guarantee that the writer's bank account will be open, let's say, six months down the road. So the check would not be good.

In some states, e.g. Wisconsin. On August 1, 1996 the state Statutes regarding post-dated checks were changed. A bank may now pay a post-dated check before the date on the check unless the customer notifies the bank not to pay it.

It is always best to check with the state laws and codes as to their rulings on post dated checks.

I worked at a bank for almost six years and we had a lot of check training. Post dating a check means absolutely nothing in the banking world. Anyone can deposit or cash a check at anytime no matter what the date is on the check.