postdated check

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A postdated check is a check that is dated in the future. A postdated check has the same effect as if it had not been issued until the day that it is dated and is not payable until that date. Postdated checks are functionally similar to promissory notes in that they are both promises to pay at some time in the future. Generally, the law does not prohibit the use of postdated checks, absent any fraud.

[Last updated in August of 2020 by the Wex Definitions Team]