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 June 2006, Gay cashed the check but did not sign the release until later, although it was never delivered to GEICO.
She registered at the customer service desk, cashed the check, and left.
When the maker got back to the store manager, however, it turned out that the woman who cashed the check was fired from the company a week earlier and stole a bundle of payroll checks before she left.
After holding the June 17 check for several months, the vendor cashed the check, crossing out the words "Payment in full" and "Full statement of account to follow.
Assuming there was an accord, [vendor's] bid to prevent a satisfaction by accepting the check but scratching out the restrictive endorsement and adding the words 'without prejudice' before he cashed the check was to no avail, for under the revised version of the UCC, words of protest cannot change the legal effect of an accord and satisfaction.
The IRS cashed the check and issued a deficiency notice for the difference.