2006-09-30 05:01:00 · 9 answers · asked by batgirlmeg 3 in Business & Finance ➔ Personal Finance
Most banks require you to have funds in your own account, equal to or exceeding the amount of the check you are cashing.
Example 1: You have an account at Your National Bank with $712. You receive a check from Faraway Savings and Loan for $100. You go to your neighborhood branch of Your National Bank to cash it and they give you five twenties, knowing that even if the Faraway Savings check bounces, you're good for the cash.
Example 2: Your account at Your National Bank only has $71 in it and you get a check from Faraway Savings for $100. You go to your neighborhood branch of Your National Bank and they turn you out into the rain, but they're happy to deposit your check for $100 -- with the understanding that the money won't be posted to your account for ten days. (Meanwhile, they most likely get the money from Faraway Savings overnight and then THEY keep the interest on the intervening ten days. But that's a screed for another time.)
Some banks are better than others, and with modern electronic networking for check presentation and payment the old ten-day hold may not apply. And if you belong to a bank run by people who don't whinge over the way Scrooge is ruined by those meddling ghosts at the end of "A Christmas Carol," they may do the right thing and just give you the damn money.
One other thought: You may be able to deposit the $100 from Faraway Savings into the automatic teller at your bank, then take $100 out from your own account -- in essence, cashing the remote check -- even though you only had $71 in your own bank account before the deposit. I've done this myself before I became a Quicken power user and learned to be the master of time, space and finance. :-)
2006-09-30 09:06:34 · answer #1 · answered by Scott F 5 · 0⤊ 0⤋
Yes. Go to the bank with 2 forms of ID and cash it at the counter.
2006-09-30 05:08:42 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Usually if you have enough to cover it in your existing account they will cash it for you. Sometimes they only let you cash a certain amount. I'm sure they have a customer service number where they can give you a correct answer. Can you lend me some money ???Good luck.
2006-09-30 05:04:40 · answer #3 · answered by Mena 3 · 0⤊ 0⤋
You can go to your bank and cash it. However, they could put hold on it depending on the amount.
2006-09-30 05:04:27 · answer #4 · answered by spot 5 · 0⤊ 0⤋
You can cash it at your bank also depending upon your status in the bank or you can take it to the maker's bank.Y es you need your ID's.
2006-09-30 05:06:23 · answer #5 · answered by observer 4 · 0⤊ 0⤋
nowadays many banks will charge you for this since you are not their customer. a few banks do not, best luck on a free one! But yes you can, just bring ID, and expect to be fingerprinted!!!
2006-09-30 05:09:06 · answer #6 · answered by ? 6 · 0⤊ 0⤋
your bank will usually cash it if you have an account there; in good standing.
2006-09-30 05:04:55 · answer #7 · answered by sherilyn t 1 · 0⤊ 0⤋
Nowadays you will 2 forms of picture ID
A thumbprint
A rentina scan
A broken promise
and quite possibly your first born.
2006-09-30 05:38:01 · answer #8 · answered by Anonymous · 0⤊ 0⤋
yes, with 2 pic ID and a thumb print!
2006-09-30 05:04:12 · answer #9 · answered by Anonymous · 1⤊ 0⤋