Have you ever found an old check you forgot to deposit? That’s common. The U.S. Department of Labor once estimated that $15 million in checks from retirement plans alone go uncashed each year, so the total value of all outstanding checks probably runs into the hundreds of millions or more, given how many other varieties of checks exist.

Once you discover an uncashed check, also known as an outdated or stale check, should you cash it? That can be a tricky question because of the confusion surrounding the shelf life of a check.

How Long Is a Check Good For?

Technically, checks don’t expire. After a certain point, they go “stale” and are considered outdated, which is distinct from having a true expiration date.

Still, it may take some work to retrieve money owed to you. Banks set their own policies and can decide at their discretion whether to process an old check.

Checks become outdated mainly as a way to protect the account holder. Typically, when individuals write checks, they have their current balance in mind and expect the funds to be withdrawn within a short span of time.

But circumstances and bank balances can change drastically in a matter of months, so after some time, there’s less confidence the funds will be available. A check can bounce if the recipient waits too long.

What Is the Validity Period for Various Types of Checks?

The validity period for a check often depends on whether it’s a personal check, business check or cashier’s check.

How long are personal checks good for? You have up to six months to cash a personal check. Under federal law, a bank is not required to make payment after that point. If you want to cash a check a few months after receiving it, consider giving the check writer or issuer a courtesy call. Let the person or entity know you plan to deposit the check, so they can make sure their account has the funds. Otherwise, the check may bounce.

How long are cashier’s checks good for? Cashier’s checks are considered “official checks” that are backed by an issuing bank. They don’t have specific expiration dates, but if a cashier’s check is held too long, the bank may put it through a process called “escheating.” In such cases, banks transfer funds to the state as unclaimed property, and you must request a replacement check from the issuing bank.

How long are business checks good for? Business checks often include a note that reads, “Void after 90 days.” This encourages the recipient to cash the check right away—even if the 90-day deadline isn’t real. Like personal checks, business checks are usually good for six months, unless the check clearly states it’s valid for up to one year. After a certain period, the business must report and escheat the funds to the state as unclaimed property. Each state has its own requirements, such as a minimum dollar amount or a minimum length of dormancy.

How long are checks good to exchange for cash? When you cash a check, the bank or credit union gives you cash in hand in exchange for the check. Unless otherwise stated, most checks are good to cash within 180 days. After that, the issuing bank decides whether to cash the check for you.

How Long Is a Money Order Good For?

A money order is a type of check where the issuer provides the funds upfront, and the money is therefore guaranteed. Domestic money orders don’t have an expiration date, but terms differ from state to state. Check the fine print on the back of your money order for specific terms.

Note that a nonrefundable service fee may be deducted from the principal amount if you don’t cash a money order within one to three years, depending on the state of purchase. In this way, money orders can lose value over time.

Can You Cash Voided Checks?

No. A check with “void” written on it means no one can cash or deposit it. A check can also be considered void if it’s missing critical information or goes through the escheat process.

What To Do if You Have a Stale Check

If you discover you have an outdated check, don’t panic—you might still be able to get your money. Here are a few steps you can take.

• Attempt to deposit the check. Your bank may accept an outdated check if it believes the issuer has a balance that can cover the amount. But the bank can’t help if the issuer closed their account, placed a stop order on the check or has insufficient funds.
• Contact the issuer, if possible. A person you know, an employer or a company you do business with may be willing to reissue a check that you can deposit hassle-free.
• Visit the issuing institution. Inspect the check to determine which institution issued it, then head to the closest bank branch. A banker may be able to validate the issuer’s funds and cash the check for you.

Bottom Line

Deposit checks as soon as you receive them. And if you discover you have an outdated check, contact the issuer or financial institution.

Remember, each bank has its own policy and can use its own discretion when helping you resolve this matter. If you think you have unclaimed funds that may have been escheated, visit the official Unclaimed Money from the Government database and search for unclaimed money in your state.

Top 24 how long is a check good for edit by Top Q&A

List of 20+ how to treat sinus headache

Top 10+ hpv vaccine how many shots

Top 10+ how is rice grown