Cashing a check means you ’ ll get cash in hand. You walk away with the full moon come of the payment and can spend that money immediately. however, it ‘s not constantly easy ( or free ) .
Depositing a determine means adding it to your bill at a bank or recognition marriage. You ’ ll be putting the money in a safe station and you wo n’t have to worry about losing it. The bank might allow you to withdraw some ( or all ) of the control amount, but sometimes you might need to wait a few days before having access to all of it .
If you equitable want to deposit the match so that your bank starts processing the payment arsenic soon as possible, you don ’ t need to wait. Most banks and accredit unions allow you to deposit checks with your mobile device anytime, so you could deposit your check from your sofa in the middle of the night if you wanted .
If you need the funds in hand right off, cash the arrest, but be aware that it might take a little more oeuvre, particularly if you do n’t have a bank account .
The Type of Check Matters
The type of check you ’ re trying to cash makes a dispute. Banks only have a requirement to make the foremost $ 200 or so available to you within one business day for a personal or commercial check. Banks may treat government-issued checks differently—you ‘ll much have access to 100 % of the cash with one commercial enterprise day after the bank day .
Depending on your bank ’ sulfur policies, other checks may besides qualify, such as cashier ’ mho checks, payroll checks from local anesthetic employers, and payments from insurance companies .
If you ca n’t cash a check for all of its value, you may need to deposit it. How fast you can entree the cash, in this case, depends on what kind of deposit you make. Deposits made in person to bank employees work good if you need the funds promptly. You can besides deposit it at an ATM or use your mobile device, but those methods might have longer bank retain times .
You ’ re always creditworthy if a check bounces —even if the bank lets you walk out with cash or makes funds available in your account. It ‘s worth noting that banks may flush take legal action if you don ’ triiodothyronine pay for a bounce check.
Try Visiting the Check-Writer ’ s Bank
The safest and fastest means to get cash is to take your check to the assay writer ‘s bank. That ’ s the bank or credit union that holds the check writer ‘s funds, and you can get the money out of the check writer ’ s account and into your hands immediately at that bank. If you go to any other bank, you can ’ thymine be wholly certain that the check is good and the funds are in the control writer ‘s account .
You can find the bank ‘s name or logo on the front of the check. You don ’ t have to go to the same branch the see writer uses ; you can visit any branch of the lapp bank. Be certain to bring designation and be sure it matches the name written on the check .
If you don ’ t have an bill at that bank, you may need to pay a minor fee of a few dollars to get the bridle cashed. You might even find that the bank refuses to cash the bridle for you because you ’ re not a customer. besides, depending on the size of the check, you may not be able to cash it because some banks have a limit on how much cash they can dispense. It will help if you go to one of the bank ‘s larger branches, which normally have more funds available .
Cash It at Your Own Bank
Your own bank or credit marriage may be a full option for cashing a assay, assuming that :
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- You don’t have concerns about the check bouncing or being returned because the check writer doesn’t have enough money to cover the check.
- The check was written for less than $200 or it’s a government-issued check.
- You don’t want to pay fees.
Your bank should cash the check mark for free because you ’ re a customer. however, it may take several days for the check to clear, so you won ’ thymine probable know right away if the check is going to bounce. In most cases, banks allow you to take up to $ 200 immediately or within one clientele day, assuming everything seems legitimate. however, you ’ ll have to repay that money—plus a fee ( which could be up to $ 35 ) —if it turns out that the control has bounced .
Cashing a check at an ATM
It ‘s a little less square than taking it to a deposit, but you can cash a check at an ATM, besides. not every ATM will enable this option, though ; some will merely allow you to deposit the check and some do n’t offer check deposits at all .
But if your ATM allows this option, just bring your check, your bank wag, and a pen ( to endorse the arrest ) to the machine and follow the prompts on the screen. You may have to have the total of the funds already available in your bill before the ATM will dispense your cash .
Retailers and Check-Cashing Stores
If your bank is closed, wo n’t cash the check, or won ’ t give you more than $ 200 in cash—or you do n’t have a bank account—you can try to get cash at a retailer. You ’ ll have the most success with a government-issued or payroll check, but you may be able to cash small personal checks ampere well .
Big-box stores, grocery stores, and convenience stores frequently cash checks for a modest fee—usually a few dollars. They normally cap the personal checks they ‘ll cash at $ 50 or $ 100 ; Kmart is unique in that it lets you cash personal checks up to $ 500, and charges no fee at all in some states and entirely $ 1 in others. Most retailers stick to government checks, payroll checks, and money orders .
That said, if you have a little personal check ( less than $ 25 ), you can constantly ask person at the customer service desk if they can make an exception—especially if you ‘re a regular customer. Be prepared to be turned down, though.
Check-cashing outlets are another option for cashing personal checks ; these businesses are broadly open later than the bank and will cash larger checks than a retailer will. however, check-cashing stores by and large charge a high fee on exceed of a percentage of the amount of the check .
Cashing Postdated Checks
If you receive a check that was written with adjacent workweek ’ sulfur date on it, in most cases, you can ignore the fact that the check is postdated. however, there ’ s a high probability the see writer postdated the check because the funds are n’t available even. You ‘ll have to make a judgment call option on when to cash it depending on how well you know the determine writer .
frequently Asked Questions ( FAQs )
Can you cash a check without a bank account?
You do n’t have to have a bank score to cash a check. Your best options are to cash the check with the control writer ‘s bank or at a retailer or check-cashing store. In most cases, you will probably have to pay a fee for this service .
How long do you have to cash a check?
generally, checks are merely good for six months, and banks do not have to honor them after this time period. There ‘s besides the chance that the check writer could close their account or use the funds they had set apart for your check, causing it to bounce if you wait excessively retentive. It ‘s constantly best to deposit or cash a hindrance american samoa soon as possible.
How can I cash a check that’s not in my name?
Before you can cash a check that ‘s made out to person else, the first payee must sign the check over to you. They can do this by writing “ Pay to the order of [ Your First and survive name ] ” and signing their name in the endorsement area on the back of the check. You ‘ll then need to sign the see endorsement area when you cash it. Some banks may besides require that the original payee come with you to cash the check .