I need money tonight but dont get paid until friday. If i write myself a cheque and deposit it in my account will I get in trouble? I mean, I know the cheque wont bounce cuz it takes 2 days to clear... I just dont want to screw myself by doing this!!
2006-10-04 07:29:51 · 18 answers · asked by nat_00420 2 in Business & Finance ➔ Personal Finance
Technically you can if you deposit it through your ATM, like some places here in the US, not sure where you're from. HOWEVER, if you do this and they find out, the bank won't be too happy with you about this. Not only that, you think it takes 2 days to clear and thats if a check is written off another bank, but your own bank and your own account, nope, sorry, they'll nail you. Try going shopping at a store that lets you write the check for cash over the amount. Go after 2pm and they won't deposit it until tomorrow then it shouldn't hit til friday.
2006-10-04 07:39:25 · answer #1 · answered by Sandi A 4 · 0⤊ 0⤋
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2016-04-28 11:13:19 · answer #2 · answered by ? 3 · 0⤊ 0⤋
If you have two accounts you can do this. I don't know how legal your specific situation would be, but when you actually have money it's perfectly alright and a great way to transfer funds from an out of state account.
Payday loans are high interest, but would work (must have pay stubs, id etc) or go to a local pawn shop with a piece of jewelry that you own.
2006-10-04 07:32:25 · answer #3 · answered by DJ 3 · 0⤊ 0⤋
If I understand you, you're suggesting that you write a check on your own account and then deposit it in the same account? That would have no effect whatsoever.
It's fraud to write a check with no funds to back it up. Don't do it. And don't be so sure it will take 2 days to clear. Nowadays checks are often treated as electronic transfers, and they are deducted from the account immediately.
2006-10-04 07:31:34 · answer #4 · answered by MOM KNOWS EVERYTHING 7 · 1⤊ 0⤋
It's called "kiting" a check. It's not "legal" but the worst that will happen is you will get an overdraft charge. Any funds you deposit will not, in my experience, be immediately available for you to withdraw. Usually you can get away with purchasing something and writing a check, and when the check goes through in a few days, the funds will be there. As for writing a check to yourself for "cash" - if there is no "cash" in your account, I doubt your idea will work.
2006-10-04 07:37:21 · answer #5 · answered by Anonymous · 0⤊ 0⤋
This is not going to work for the following reasons:
1. Banks now clear checks in less than 24 hours.
2. Your check will bounce and you will be socked with a huge overdraft fee.
Now, if you can write the check to someone who will hold it for two days for you, then you will be fine. See if a friend will do this for you instead of taking a chance.
2006-10-04 07:35:06 · answer #6 · answered by nalashelby 2 · 0⤊ 0⤋
Yes, and you can do it either way. Or if it feels weird writing yourself a check you could always just withdraw cash from one account and deposit it into the other. If both accounts are at the same bank, most places have a form you can fill out to do it.
2016-03-18 04:43:25 · answer #7 · answered by Anonymous · 0⤊ 0⤋
What you're saying is that you have NO money in your checking account, but you want to write a check of the account anyway. Right??
LOL....Yes, the bank will definitely frown on such activities. You KNOW it, or you wouldn't have asked the question. I hope you don't think that you are the first to think of doing that!
2006-10-04 07:33:48 · answer #8 · answered by Anonymous · 0⤊ 0⤋
You cant write urself a cheque, and if you do the banker will cheque and will assume ur depositing cash, and will delcine
2006-10-04 07:33:18 · answer #9 · answered by Mr Y! Answers 3 · 0⤊ 0⤋
It won't work if you are writing a check from the account you are depositing it into. Get overdraft protection.
2006-10-04 07:31:57 · answer #10 · answered by Anonymous · 1⤊ 0⤋