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 ?
WinCo surveillance cameras confirmed the person cashing the check with the woman's ID was not the person police spoke with, the affidavit states.
Police eventually located that woman - Sara Butrick, 40, of Coburg - who admitted cashing the check with the ID and giving Hahm-Spencer half.
She also didn't know she would be cashing the check while posing as another person, until Hahm-Spencer gave her the check and the ID, the affidavit states.
I wouldn't bother cashing the check because my account is overdrawn anyway," the woman quoted Mr.
We always made sure we took the proper identification, made sure we verified the face of the person standing in front of us cashing the check, made sure the signature on the check and ID matched," says Lopez.
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.
By cashing the check, do you waive the right to the balance you believe you are owed?
The debtor must make clear that issuing the check is intended to settle the outstanding claim between the parties and that the creditor, by cashing the check, accepts the settlement.
Before a check can manifest an accord and satisfaction, the party who presents the check must make it clear that cashing the check is intended to settle all outstanding accounts between the parties.
The vendor's accounting clerk stated that she did not see the "Paid in full" reference before cashing the check.
It should be noted that had there been a good faith dispute, the vendor's cashing the check would have served as an accord and satisfaction:
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.