Unfortunately, checks expire after a certain time. You need to know exactly how long your check will be good for if you don’t want it to be rejected by the bank.
So, how long is a check good for? The amount of time a check is good for will depend on various factors, the most important of which is the type of check you’re using.
As a general rule of thumb, you should always try to cash checks you receive as soon as possible to avoid any complications.
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How long is a check good for?
A check will typically be valid for around six months¹.
There are exceptions to this, but generally speaking, most checks will expire after six months have passed without endorsem*nt.
You can read the full guide on how to endorse a check to find out more about endorsem*nt.
Expiry of checks written by you
For checks that you have written out to others, you can expect the check to last for six months.
If the recipient does not cash the check or deposit it within six months after your endorsem*nt, they might not be able to.
There’s still a possibility that the bank will process the payment anyway, so consider the money gone unless you hear otherwise.
How long is an uncashed check good for?
An uncashed check can be good for a very long time, but it will depend on the type of check and the bank involved.
The legal obligation of a bank is to cash a check that has been sent out within six months; beyond that, there is no reason for the bank to do so.
If you find yourself in this situation, the bank will be able to reach out to the payer and can tell you what needs to be done.
Can you cash a 2-year-old check?
Yes, you can cash a 2-year-old check in theory, but the bank won’t be legally obligated to process it for you.
If you have a 2-year-old check lying around, your best bet is to take up the matter with your bank, the payer, or perhaps even get the state involved.
Different types of checks
With each type of check payment, you can expect a different set of rules and expiry dates.
Personal checks
With the personal check, if the check hasn’t been cashed after 180 days or six months, it will be considered invalid.
US treasury checks
US Treasury checks² are valid for up to a year after they have been issued, and they are usually related to federal tax returns. They can be tricky to get hold of if you don’t cash them within a year.
Cashier’s checks
With cashier’s checks, it varies according to the banks, so there are no hard and fast rules. While many banks will print a deadline on the checks, others won’t.
Traveler’s checks
Traveler’s checks³ don’t have a defined expiry date, so the only condition for cashing them is that the bank is still around.
You can also choose to have your traveler’s checks exchanged for the local currency, although you may face a bad conversion rate when cashing in.
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You can also find more tips on travel money options in this guide to travel money.
Money orders
Domestic postal money orders⁴ will never expire or accrue interest.
With that being said, there’s a strong chance that you’ll be hit with a service charge if you don’t cash out the money order with a year or two. This charge will be taken from the original sum of money.
What happens if a check is never cashed?
In theory, checks never technically expire, since banks can cash them even after the typical six-month period.
While you will have a tough time cashing a check that has been sitting around for several years, it is still possible. Even after the expiry date determined by state law, banks can choose to cash checks, but it may take some time and effort.
After six months, the bank can also bounce the check which means that they will charge the payer a fee.
You also want to be careful if you do cash an old check. If the payer no longer has funds in the account it was sent from, it can trigger a NSF (non-sufficient funds) fee of $30 or more⁵.
Ditch the checks and try Wise
To avoid the hassle of check expiration and waiting for the recipient to cash it, you can use Wise - an easier way to send and receive money.
With Wise, transferring money is quick and easy. You can send, receive and track payments through the Wise app. That means no need for paper records or waiting around for check clearance.
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Sources:
All sources checked 19 April 2021.
This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from Wise Payments Limited or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date.
As an expert in banking, financial transactions, and money management, I have a comprehensive understanding of the various facets of checks, their validity periods, and the implications of uncashed checks. My expertise draws from practical experience, ongoing research in financial regulations, and a thorough grasp of banking practices up until my last update in January 2023.
The information provided in the article accurately delineates the key aspects of check validity and associated repercussions for uncashed checks. Let's delve deeper into the concepts and terminologies outlined:
Check Validity Periods:
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General Validity: Checks typically remain valid for approximately six months. After this period, banks might refuse to honor them, although there can be exceptions.
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Checks Written by You: If you're the issuer of a check, it's generally valid for six months. The recipient might face difficulties cashing it after this period.
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Uncashed Check Duration: The duration varies based on check type and banking policies. Legal obligations for banks usually end after six months from issuance.
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Cashing Old Checks: While theoretically possible to cash a two-year-old check, banks aren't legally bound to process it. Resolution may involve contacting the bank, payer, or state authorities.
Types of Checks and Their Expiry Guidelines:
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Personal Checks: Typically become invalid after 180 days (or six months) if not cashed.
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US Treasury Checks: Valid for up to a year, mostly associated with federal tax returns. Cashing them after a year might be challenging.
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Cashier’s Checks: Expiry terms vary among banks; some print deadlines, while others don’t have explicit rules.
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Traveler’s Checks: Don't have a fixed expiration date. However, they rely on the bank's existence. Exchanging them for local currency might incur unfavorable conversion rates.
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Money Orders: Domestic postal money orders don't expire but might incur service charges if not cashed within a specific period.
Consequences of Uncashed Checks:
- Checks technically don't expire, but banks might refuse to honor old checks.
- Banks can still cash old checks after the typical validity period, but it may require effort.
- The payer might face fees if the bank bounces the check due to non-sufficient funds.
Alternative Financial Solutions:
- Wise offers a convenient alternative to checks, providing quick and traceable money transfers via its user-friendly app, circumventing issues related to check clearance and expiration.
The article comprehensively covers these topics, offering insights into the nuances of check validity, types, expiration, and the potential repercussions of uncashed checks, ultimately advocating for more efficient money transfer alternatives.
Please note, the information provided here is based on the most recent updates until January 2023, and I strongly recommend seeking professional advice for specific financial concerns or changes in regulations.
