New Law on Uncertified Checks to Take Effect in 2025
The new law on uncertified checks, set to come into effect in 2025, modifies the rules for installment payments via postdated checks.
This common practice, which allowed buyers to pay for a purchase or service in multiple installments without bank certification, will be prohibited as of February 2, 2025.
Although the law has always discouraged this payment method, many businesses and service providers continued to accept these checks, catering to customers whose financial resources did not permit full payment.
However, this tolerance will come to an end. From now on, banks will refuse to cash postdated, uncertified checks, even if they were issued before the law takes effect.
For clients who have issued such checks that exceed the deadline, it is imperative to plan an alternative payment method that complies with the new regulations. Failure to do so may result in judicial and financial penalties.
