Please note that the answers to the questions are for information purposes only for the products discussed. Individual circumstances may vary. In case of discrepancy, the documentation prevails. How can we help you? Ask Us. We matched that to: What is a stale-dated cheque? Stale-dated cheque An issued cheque is negotiable for six months plus one day from the date written on it, after which it becomes stale-dated. Helpful Related Questions. Why can't I access my funds after depositing a cheque?
What happens if I write a cheque and there is not enough money to cover it? Why did a cheque go through my account prematurely? For clearance or deposit, any cheque with a previous date that is not exceeding 3 months may be presented to the bank. Stale cheques are outdated cheques issued to the bank after the date of payment has expired.
While Post-dated cheques are dated in such a form that they can only be cashed in in the future. After three months from the issuance date, cheques become stale. Post-dated cheques may be dated in the future, it may be months or years from the date of issue. For Quick Alerts. Subscribe Now. For Daily Alerts. What is a Cancelled Cheque? What is Cheque Bounce? For investment related articles, business news and mutual fund advise.
Allow Notifications. You have already subscribed. Equity Mutual fund. Boost your returns from our latest financial news and tips! Before we made this process scalable, we would ask our team to come in on Saturdays to resolve stale checks—in those days, we could get through about checks a month, manually.
This created a very reactive, unscalable process. Thanks to our engineers and some outside-of-the-box thinking, our automated system enables a single person to handle about 1,, stale checks a month. Companies that have tried end up adding headcount for the sole purpose of handling tedious, manual work—not scalable at all.
Depending on the payment volume, this can be a painfully time-consuming process—and one that we realized we could automate. Now we can run that process for all stale checks in the same amount of time it used to take for just one check manually. Finally, we bought everyone on our team a programmable computer mouse that carries out the most common click sequences at the touch of a button.
This way, our team can breeze through manual tasks and focus on more meaningful ones—and protect against carpal tunnel! Error resolution is one of the costliest, least value-added parts of the B2B payment process.
Stale checks are just a fraction of the payments that our payment modification team handles, but turning that absurd process into one that only takes a couple of hours per week has had a positive effect on our team. We handle more modifications without a corresponding increase in staff. And the staff we do have contribute to the continued improvement of our efficiency and accuracy. And no one has to work on Saturdays.
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