Post Dated Cheques for 4 years

[migs267]

Ask ko lang kun4g tama bang mag comply ako sa request ng bank to provide the post dated cheques (48 cheques) for remaining 4 years ng mortgage ko? I plan to submit 12 cheques only for this current year kasi.. risky kasi if the whole 4 years provide ko.

[_Qwerty_]

pwede naman yan 12 checks muna..

[boybi]

Bakit naman risky if bigay mo na lahat ng checks? May plano ka bang takbuhan ang bank? If not, bigay mo na lahat ng checks para hindi ka na kinukulit ng bank everytime na mag due na ang monthly mo.

[_Qwerty_]

mahal din ang cheques.. bakit hindi na lang auto debit.. ganon din naman yun..

[robot.sonic]

Wala namang risk yan. Sabi sa akin ng bank lagyan ko daw ng dalawang guhit yung upper left side ng check as indicator na for deposit. Para di ma withdraw over the counter.

[rattrapante]

Some banks and financial institution requires PDC while others don't, like BPI auto loans.

How can it be a risk on your side, when you already got the money from them? You are not going to give them checks without them properly receiving it, plus the checks are post dated and paid to the bank, so you won't get overdrawn more than what you are obliged to pay for in the first place.

If this is their policy you can't really argue with it, the only thing you can do is move to another bank.

[digitalron]

As long as the payee is named properly (the bank in this case), and you're judicious in checking your monthly receipts, then there shouldn't be any problems. I've paid three and five year terms via PDC (36 and 60 checks) with no problems using a checking account to pay other banks.

[shadow]

Wala namang risk yan. Sabi sa akin ng bank lagyan ko daw ng dalawang guhit yung upper left side ng check as indicator na for deposit. Para di ma withdraw over the counter.

it's called cross cheque...deposit lang talaga yan for payee's account, hinde pwede ma encash.

mahal din ang cheques.. bakit hindi na lang auto debit.. ganon din naman yun..

para pwede BP 22 in case hinde na makabayad yun client nila

[_Qwerty_]

sa ibang bansa ba meron ding ganyan? I was talking to some Australian friends.. they've never heard of PDCs.. hindi daw pwede sa kanila yun..

[shadow]

^meron din gumagawa pero pwede negotiate sa bank anytime, so parang walang kwenta PDC sa kanila. unless I think yun nag issue eh mag notice sa bank pag wala eh tangapin ng bank anytime kahit hinde pa dumating yun date..

[admiral88]

Sa union bank dati they allowed us to issue 12 crossed checks muna good for the current year, then another 12 on the following year.

[migs267]

Sorry ngayon lang ako makakapag update..

Pumayag naman yung bank na 6 PDC lang muna bigay ko for first half of this year.