CONTENT
  DEPARTMENTS



  DETAILS
Legend for Icons
 Article    Q&A

 Podcast  Video

 Blog  Discussions

PDF    Powerpoint
BankingQuestions.com Web


Topic Options
#14105 - 09/10/07 11:32 PM checks made out to cash
Anonymous
Unregistered


My friend left me a check before he went out of town and I need to cash it but he made it out to "cash" how can i cash it?? Not deposit, but cash it?

Top
#14109 - 09/11/07 09:14 AM Re: checks made out to cash [Re: Anonymous]
John Burnett Administrator Offline
Compliance is my life

Registered: 10/27/00
Posts: 12642
Theoretically, a check payable to "cash" is payable to whoever holds it. So theoretically, you could take the check to the bank on which it's drawn. They could be expected to require you to endorse the check (as evidence you received the funds).

But that is theory. Banks are leery of checks payable to cash. So we suggest you be prepared for the paying bank to be reluctant to cash the check.

If the paying bank won't cash it, and you have an account of your own, you may have to deposit the check in your bank. That could mean a slight delay in getting your hands on the actual cash.


Edited by John Burnett (09/12/07 03:51 PM)

Top