So you've got the check you received as work compensation, a birthday present, or for some other reason given. You're ready to cash a check and use the money for something good, and you step out of the house to do it…only to realize that you don't know what to do with the check. Fear not: whether you have a bank account or not, cashing a check can be easy and simple. If you want to know how to do it, just follow these steps.
Step
Part 1 of 3: Taking Precautions
Step 1. Make sure you trust the person writing the check
This is the most important thing. If you end up with a bad check, you'll be in more trouble trying to get the money that's actually yours. So make sure you are given a check by a trusted person; If you're asking for compensation from someone you've never met before or someone you met on Craigslist looking to buy your furniture, then it's best to ask for the amount in cash if you can. But if you have a check, make sure you have the following information:
- First name and last name and correct address of the person who gave you the check
- Contact information for the person who wrote you the check so you can contact him or her if you have trouble cashing the check
- The name of the legal bank from which the check is cashed
Step 2. Validate the check just before you are ready to cash it
To certify a check, you just need to flip it over and sign the line with an "x" on the left. This line will be found at the top of the check, and you will be signing it sideways. Do this right before you go to the ATM or bank, so your check can't be cashed if you lose the check. If you don't certify the check, it makes it harder for the bank to accept from someone who wants to cash it with ulterior motives.
Step 3. Cash the check as quickly as you can
Some checks, such as those paid by the employer or non-personal checks, have an expiration date on them. But even if a check doesn't have an expiration date, banks are not allowed to accept checks 6 months after they were written, so you should cash the checks on time to ensure you can get the money you're entitled to as quickly and easily as possible.
Part 2 of 3: Cashing a Check in Your Bank
Step 1. Cash your check with your bank teller
This is the easiest method to get the money you have earned quickly and safely. Your bank will very likely require verification of your account and your driver's license or some kind of identity card, so make sure you take these important things with you when you visit the bank. Never sign a check before you get to the bank; but do it in front of the teller when you cash it for ultimate security.
Step 2. Deposit your check at your bank's ATM
This is another way to cash a check that has been given to you. Basically, you will deposit a check into your bank account; it can take up to three business days for the check to be forwarded, but if you already have money in your account, you can simply withdraw the amount you need at this point. Either way, it's a quick way to make sure the money goes into your account. This is how you deposit a check at your bank's company ATM:
- Enter your debit card
- Type your PIN and press Enter
- Select "Deposit Check"
- Put the check into the check deposit box
- Confirm amount on check
- Withdraw money from the ATM when the check comes in (or earlier if you already have extra money in the bank)
Step 3. Use a mobile deposit app
This is a new method that many banks, such as Chase and Bank of America, are using to allow users to deposit checks as easily as possible. To do this, what you have to do is download your bank's mobile banking app, take a photo of the front and back of the check, and then confirm the amount on the check. This is similar to depositing a check at an ATM except that you don't have to leave your house.
But when the check has come in, you will need to leave the house to withdraw the money you deposited
Part 3 of 3: Other Methods To Cash A Check
Step 1. Take your check to the bank where the check is cashed from
If you don't have your own bank account, then this is a great method. Just bring a photo ID and check to the bank teller where the check is cashed from, and you'll be able to cash the check for yourself. Just remember many banks will charge a processing fee, which can be as much as 10 dollars or more. This bank will also try to get you to open an account with their bank.
Step 2. Cash your check at a retail store
Oftentimes, major grocery store chains, other major franchises, and most Wal-Marts have a place for you to cash your personal check or paycheck for a minimal fee. You can pay a check to your local 7-Eleven or other local retailer. This can cost less than doing the same thing at a bank you don't have an account with or at a check cashing service. 7-Eleven lets you cash out for a.99% convenience fee, for example, and Wal-Mart charges just $3 for checks under $1000.
Again, don't sign and certify the back of your check until you are in front of the person who cashed the check for you
Step 3. Visit a specialist cashing company only as a last resort
You should only use this method as a last resort as these agencies charge the most for cashing personal and payroll checks. On the plus side, these stores are usually the quickest way to get your money right away and may even be open, depending on what agency and where they are located, 24 hours a day, 7 days a week. But then again, the commissions taken on cashing checks are often large because of the extra risk they take by cashing almost any check brought to them.
This place knows that they work with customers who need cash from a check as soon as possible and are willing to take advantage of their desperation
Step 4. Sign the check to someone you trust
By signing the back of your check to someone you trust and know well, they can easily go to their own bank and cash it themselves. Of course, the stipulation here is that you should only ask someone you really trust to do it for you. In most cases, you may have to accompany them to the bank when they cash your check, although it is not necessary for you to be present.
