Cash a Check

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Cash a Check

To deposit a check at a bank other institution and to receive cash in exchange. For example, suppose Joe writes Bob a check for $10. Rather than place the check in the bank, Bob may go to his bank, present the check, and receive $10 in cash. The bank then directs the check to Joe's bank and receives $10 from Joe's account to compensate itself for the cash it gave to Bob.
References in periodicals archive ?
In two weeks the customer either returns with enough money to cover the cost of the check or the company cashes the check.
Aimbridge Disposition Services solicits and compares all bids while the credit union simply approves the transaction and cashes the check.