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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.

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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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