Never, if you can avoid it in trade, receive a post-dated check.
Cash or deposit your checks as soon as possible after they are received.
If the bank should fail, while you are holding the check, the maker cannot be held for the loss.
CERTIFICATES OF DEPOSIT
Often when a depositor is travelling, he finds it convenient to carry with him a form of paper that is as good as cash, and much better in the event of loss.
Banks will issue "certified checks" to depositors. These checks are stamped by the bank "certified" with the date and officer's signature attached.
On issuing such a check, the bank debits the receiver's account with the amount, and so can guarantee the payment whenever or wherever presented.
Such a check may be received with as much certainty of its value as if it were a bank bill.
When a person places money in a bank with no intention of checking it out for some time to come, he may have issued to him a "Certificate of deposit."
While holding this certificate he cannot check against the money in the bank.