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 ?
After several attempts at cashing the check failed because she was told there were insufficient funds in the company's accounts, she said the company canceled the check and issued her another for half the amount.
Postal officials warn that some criminals target mail boxes, stealing checks for ``washing'' - erasing the payee and amount, then forging a new name and amount and cashing the check.
In addition to cashing the checks, customers will receive a special discount on their purchases as a thank you for doing business with us.