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.
The second suspect, identified as H.A., allegedly cashed the check the next day.
In addition, it will assess how a taxpayer used an amount distributed (e.g., for a payment made by check, whether the taxpayer cashed the check), and the time elapsed since the distribution.
In determining whether to grant a waiver, the service considers all relevant facts and circumstances; how taxpayers used the amount distributed (for example, for payments made by check, whether they cashed the check); and the time elapsed after the distribution.
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." The vendor added the notation "Without prejudice." The vendor cashed the August 18 check in the ordinary course of its operations.
"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.