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 ?
Prosecutors say Costa tried to cash the check that same day but a bank teller refused, said Gates, who did not indicate if it was the same bank.
Police were notified three days later, on March 20, when one of the defendants attempted to cash the check at an Aurora bank where the homeowner's account had been flagged, Gates said.
In May 2006, before cashing the check or signing the release, Gay contacted a Burkey employee and asked whether he should cash the check. The employee said it was okay to cash the check, but not to sign the release because it might affect Gay's ability to pursue additional claims for underinsured motorist benefits from his own insurer.
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.
If Gay was not advised by Burkey to cash the check, another issue remains: whether the settlement with GEICO prejudiced the Association.
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.
It would also be a fair statement that when we went to the bank in Auburn Thursday night to cash the check the teller looked at it with amusement.
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.
Pazi was able to cash the checks given to her and received $600 for each check cashed, records said.
He then proceeded to cash the checks himself to pay his employees.