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What if my financial institution cashed one of my postdated cheques early?
If you discover that a postdated cheque was posted to your account before the date specified on the cheque, you can ask your financial institution to refund the money to your account, as long as you make the request before the cheque's due date. FCAC recommends therefore that consumers continually monitor the transactions that go through their accounts.
If you have not resolved your problem with a postdated cheque at the branch level or if the cheque has resulted in non-sufficient funds (NSF) fees being charged to you, you can make a complaint using your financial institution's complaint-handling process. Federal financial consumer protection legislation requires all federally regulated financial institutions to have a complaint-handling process in place to help resolve disputes between consumers and their financial institutions. This process includes a third-party dispute-resolution body.
FCAC publishes the complaint-handling process for all federally regulated financial institutions on its website. To find the complaint-handling process for your financial institution, click here. If you are having difficulty finding this information, call our Consumer Contact Centre at 1-866-461-3222 (toll-free).