How To Cash A Check?

Receiving money or being paid via check and wondering how to get it can be worrisome, especially because living in a digital world has made life easier. Cashing a check, however, is not as demanding as it first appears but the need to be careful cannot be overemphasized. This article aims to simplify the process involved in cashing a check and who to trust with it. Let’s jump right in!. Let us know ‘How To Cash A Check?’.

How To Cash A Check?

Cashing a check means getting cash through a paper (check). The summary of it is: to access the money on a written check, the amount written on it would be withdrawn from the check writer’s account and be deposited into your account or handed over to you in cash. The breakdown is stated below.

Processes and Steps Involved in Cashing a Check

As much as the use of checks might be old fashioned, more digital inclined processes can be used to get money from a check. These processes include:

• Cashing a check at the bank 
• Cashing a check using an ATM
• Cashing a check using a smartphone

Cashing a Check at the Bank

1. Take the check to the bank. Any bank can cash it but first, use the bank stated on the check.
2. Locate the bank teller at the bank.
3. In front of the teller, sign at the back of the check (it is best to endorse the check right before submitting it for security reasons).
4. Submit the signed check with a valid identification card (some banks may ask for a debit card).
5. The teller would process your submission.
6. Your money would be handed over to you or deposited in your account.

Cashing a Check Using an ATM

1. At the ATM, put in your debit card.
2. Type in your pin like you would when making a withdrawal.
3. Select Deposit Check on the options.
4. When the deposit slot opens, put in the check.
5. Confirm how much is written on the check.
6. Then you can withdraw your money.

Cashing a Check Using a Smartphone

Note that this process is done on a smartphone using the Bank Application provided by your bank. The process might be distinct depending on the bank but it usually involves these basic steps:

1. Download the bank app
2. Open it and take a clear shot of or scan the written check.
3. Sign the check behind and also snap a clear shot of it.
4. There should be a corner on the app that directs you to submit.
5. Keep the check safe until you get confirmation that the money had been deposited
6. To get your money, visit your bank or an ATM to withdraw.

Factors to Consider Before Cashing a Check

1. Ensure the check is given to you by a source that is reliable and contains the following information

• Correct and full names
• The date on which the check is to be withdrawn
• Address or phone number of the check writer
• Signature of the check writer
• The account from which the money would be withdrawn
• Name of the bank to be withdrawn from (ensure it is not a strange bank)

2. If you can, confirm from the bank issuing the money that the check writer has an account with them and enough money for the withdrawal about to be made.
3. Ensure that your name is written on the check the same way it is on the identification card you would be using.
4. Ensure you sign or endorse the check just before you cash it either at the bank, ATM or using a bank app. If there is more than one payee (that is people to receive the money), then the signatures of all parties must also be appended to the back of the check. 

Conclusion

Having to go to a bank can be tiring, but as our world becomes more and more digitized, new ways to tackle old fashioned processes like cashing a check are being discovered.

However, whatever approach you choose; in front of a teller, at an ATM or from the comfort of your home, be certain to carefully look into the highlighted factors to avoid complications in your withdrawal.

Frequently Asked Questions

1. Can you cash a check at any bank?

You cannot cash a check at just any bank. It has to either be at the bank issuing the money or at the bank where you have a savings or working account.

However, some banks outside the issuing bank and your bank could do it for a fee. 

2. How long does it take to cash a check?

If all factors highlighted above are fully considered, going to the bank to convert your check to money should take a few minutes. The process can only be dragged and more tedious when there is a mistake on the check.

However, if all things go right, your money would be available to you in less than a week.