cashing a cheque

justincredible_2

Hi,

I'm slightly confused as to the process of cashing a cheque. I've seen all the shops that do it but what do you need? Do I take in a cheque made out to me, or do i write them a cheque? Would be grateful if someone could let me know.

cheers

KTF

If you take it to your bank then you can do it for free otherwise the shops will take a % of the total. All the ones I have ever cashed at the bank have been made out to me but I imagine that the shops will cash any cheque you take to them (though I might be wrong).

Mark7799

A cheque cashed at the Bank should be made out to 'Cash'. If you're not at your own branch of your own bank then you should have your cheque guarantee card with you as well. If you have a debit card or cash card you can usually cash straight from that without the need to write a cheque out.

If you're cashing a cheque at a shop, pub or other third party, it needs to be made out to the person whose giving you the cash. In practice, it's usually best to ask who to make the cheque payable to before you write it out. The shop will probably ask you for a cheque guarantee card as well to ensure they get the cheque paid.

Walshy

The bank / shop should also mark the calendar page at the back of the cheque book, as you can only cash one cheque per day (for fraud prevention)

Quasar

Gee, that brings back memories. I think the last time I've cashed a cheque must be 15 years ago. Since then it's been ATMs all the way.

virgin_moneysaver

Walshy wrote:

The bank / shop should also mark the calendar page at the back of the cheque book, as you can only cash one cheque per day (for fraud prevention)

no longer used even though the date sheets are printed in the back of the chq books - you can cash cqs in banks etc as many times as you like in theory as long as the funds are there as the cqs are processed in real time & the banks etc can see each time the balance on the account, & ID procedures are followed each time - the old calender system was used in the days when the cqs being cashed weren't updated to the account until close of business