Hi, Guest
09-23-2007, 10:27 AM
Not sure what you mean by this ... but the answer is most probably "no" and these are questions you really should be asking the bank.
But anyway ... the only way you can "cash" the cheque is to go to his branch and ask for the cash. If you can, you should do this. Verification does nothing for you and offers you zero protection.
The only thing you can do at your branch is to deposit it to your account. They will not give you cash for it. Under normal circumstances they will hold funds (ie: you don't have access to the money) for a period of time (usually 10 days), but if you ask them to verify it, they might waive the withholding period.
BUT ... that does not protect you. If the cheque were to eventually bounce or more likely be subject to a stop payment - the bank has the right to get the money back from you and they will immediately debit your account, even if it means putting it into an overdraft position - and they will do this without notice to you.
The only 100% way you can be sure the cheque is any good is to get cash for it, and the only place you can make that happen is at his branch.
You should stop thinking about this now.
But anyway ... the only way you can "cash" the cheque is to go to his branch and ask for the cash. If you can, you should do this. Verification does nothing for you and offers you zero protection.
The only thing you can do at your branch is to deposit it to your account. They will not give you cash for it. Under normal circumstances they will hold funds (ie: you don't have access to the money) for a period of time (usually 10 days), but if you ask them to verify it, they might waive the withholding period.
BUT ... that does not protect you. If the cheque were to eventually bounce or more likely be subject to a stop payment - the bank has the right to get the money back from you and they will immediately debit your account, even if it means putting it into an overdraft position - and they will do this without notice to you.
The only 100% way you can be sure the cheque is any good is to get cash for it, and the only place you can make that happen is at his branch.
You should stop thinking about this now.
cornflakes,Sep 22 2007, 04:03 PM Wrote:am i able to just go to my bank and try to cash this cheque in without first having it verified or will they need to first verifiy it and then cash the cheque?
[right][snapback]249311[/snapback][/right]
2008 Fusion SEL MTX - DD1 * 2009 Fusion SEL - DD2 * 2007 Focus ZXW - R*I*P * 2004 Focus ZTW CD Silver - sold * 2004 Focus ZTW Black - sold * 2003 Focus ZTW Black - sold * 2001 Focus ZTW Gold - sold * 2000 Focus SE Wagon (ZTW option) - Black - sold * 2000 Focus SE Wagon (ZTW option) - Gold R*I*P
2003 Focus ZX5 infra-red Track Rat - R*I*P
2003 ZX5 CD Silver Track Rat - retired, but still in the driveway
New track rat: 2000 ZX3, Atlantic Blue * JRSC with lots more to come
* New Zetec crate motor - NFG - thanks Topspeed *
2003 Focus ZX5 infra-red Track Rat - R*I*P
2003 ZX5 CD Silver Track Rat - retired, but still in the driveway
New track rat: 2000 ZX3, Atlantic Blue * JRSC with lots more to come
* New Zetec crate motor - NFG - thanks Topspeed *