getting my cheque made out to cash

the_seraphim

At work I get paid by cheque. Which takes a week to clear. How do I get my boss to make it out to cash so I can cash it at his bank. At the minute I'm paying 7% on my 900£ cheques to. CAsh them

DS4215

Why not just pay it into your account?

heretolearn_2

Doesn't work that way, sorry.

Cheques these days are printed with 'crossed' and 'Account payee' - I don't think cash is an option in that case, it must be to a name.

Banks won't accept it anyway - who is to say that the cheque will clear? They will hand out cash to you and then not get it back from the writer of the cheque. If a paid in cheque bounces, they can recover the money from the account it was paid into. They don't have to try and track down the original issuer of the cheque. There's a reason it takes a week with a cheque.

The only way would be to pretend you were your company and drawing cash out of their account - this used to be what you had to get your own money out of the bank before there were ATM cards etc. But the bank might wonder why you were doing that instead of a more modern cash withdrawal, and you would need to pass security system. I don't think a bank would do this at all now.

geordie_joe

heretolearn wrote: »

Banks won't accept it anyway - who is to say that the cheque will clear?

I don't think you read the post properly, the OP said

"How do I get my boss to make it out to cash so I can cash it at his bank"

His bank will know instantly if the cheque will clear or not, and they COULD clear the cheque instantly.

heretolearn wrote: »

There's a reason it takes a week with a cheque.

NO, the only reason it takes a week to clear is so the banks can hang onto the money and get the interest on it.

Since the invention of the telephone, banks have had the ability to clear cheques in minutes. And since the invention of computers and networks they have had the ability to clear cheques instantly.

The only reason they don't do it is so they can keep the money for a few days.

hotpot1000

when I worked for an agency many years ago, we would take their cheque to barclays and draw cash immediately, it was set up for all staff, so it is possible

McKneff

Why not ask your boss if he will pay you via bacs, it takes 2 days then.

I presume that you are taking them to a cash checking faciltiy, why not budget better

and just pay them into your bank

duchy

Why don't you just ask him to do it ?
(If you really mean can you make him-then the answer is no)