I want to be able to have a current check be covered reguardless of whether or not my deposit reaches my bank before the check that I would make out to "Cash". And, if it does I am hoping that it will just give me my banks fee for not having the funds there in time and the amount of the check made out and given to someone as "Cash".
2007-07-09 08:43:26 · 2 answers · asked by Chris K 1 in Business & Finance ➔ Personal Finance
What?! No, the bank won't cash a check if you don't have money in the account to cover it or have overdraft protection which would essentially give you a loan with a fee.
2007-07-09 08:50:56 · answer #1 · answered by Judy 7 · 0⤊ 0⤋
I had a real hard time understanding your English here, but:
Whether it's made out to "cash" or to someone by name, if there's not enough money in the acount to cover it, it will bounce. Depending on where the person you give it to, takes it, they may or may NOT be able to cash it. Sometimes the bank (even the one you wrote it upon) wants the recipient to have their own account, there, with a balance big enough to cover the check. Being made out to "cash" just makes it a tiny bit harder to cash.
The overdraft Fee is normally charged to you, whether or not they actually pay the recipient.
2007-07-09 15:53:21 · answer #2 · answered by Anonymous · 0⤊ 0⤋