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 May 2006, before cashing the check or signing the release, Gay contacted a Burkey employee and asked whether he should cash the check.
If Gay advised Burkey of his potential settlement and Burkey told him to cash the check, the Association is estopped to deny coverage under the policy because notice to their agent, Burkey, was notice to the Association.
It is unclear in this case whether Burkey's employee told Gay to cash the check, but not to sign the release.
Under the common law, if a creditor received a check for less than the full amount owed and that check contained a conspicuous notation that it was tendered as satisfaction of the entire debt, the creditor has two options: reject the offer by returning or destroying the check; or cash the check and accept the accord.
Hammond said he had not realized city officials were planning to cash the check immediately and had been expecting a wire transfer to come into his account soon after he wrote the check.
Sidney Benaske, 24, of Canyon Country also faces felony charges of burglary, forgery and receiving stolen property for attempting to cash the check.
Police tried contacting each of them, but could only locate one woman, who said she did not cash the checks and that her identification was missing.
Wal-Mart and Home Depot are gearing up for the windfall by offering to cash the checks if consumers make a purchases at the stores.