question about check made out to cash

WithThisRing Posted: Jan 28, 2003 10:28 AM

question about check made out to cash

i am not a banking genius, my mom is writing me a check and i really cant afford to wait for the check to clear the 3 business days (its for my dads and my car insurace)

if i tell her write it out to cash, how does that work???

kptoys Posted: Jan 28, 2003 10:28 AM

Re: question about check made out to cash

Can you cash it at the bank it was drawn against. They should give you the cash right there.

Ronnie&Theresa Posted: Jan 28, 2003 10:32 AM

Re: question about check made out to cash

Still takes the same amt of time to clear..

It doesn't matter!

kptoys Posted: Jan 28, 2003 10:40 AM

Re: question about check made out to cash

Not if you cash the check. They can take the funds right out of the account right there. There is no waiting time.

WithThisRing Posted: Jan 28, 2003 10:43 AM

Re: question about check made out to cash

my moms bank is different then mine. i would be cashing it at chase. would it still work where it would be cashed??

I've cashed regular checks in my name but nothing ever made out to cash

kptoys Posted: Jan 28, 2003 10:45 AM

Re: question about check made out to cash

Just have ID.

Claud2001 Posted: Jan 28, 2003 11:11 AM

Re: question about check made out to cash

You have to cash it at the bank that the check is from. Is your Mom's account at Chase? Then you will be fine, as long as your Mom's account has the funds to cover the check. If you cash a check and the account gets overdrawn, your Mom will be charged for not having the funds to cover the check.

WithThisRing Posted: Jan 28, 2003 11:14 AM

Re: question about check made out to cash

shes a different bank.

i think i'll just tell her write it out to me and i'll cash it like i have cashed other checks made out to me

thanks...

i am not good with banking and math. yet i am so anal about balancing my checkbook.

Claud2001 Posted: Jan 28, 2003 11:20 AM

Re: question about check made out to cash

Chippa - do you know that if you cash the check at YOUR bank, the funds get held against YOUR account until it gets processed and clears your Mom's bank? Just trying to help you understand how it works in case you have any checks outstanding (for bills) that might need those funds to clear.

WithThisRing Posted: Jan 28, 2003 11:38 AM

Re: question about check made out to cash

hmmm didnt know that.
told you i am not a banking genius LOL

thanks for the info.

LisaT Posted: Jan 28, 2003 12:55 PM

Re: question about check made out to cash

whether its written to you or written to cash, it doesn't affecting clearing time. If you cash it at your bank, it will be against funds in your account until it clears. If you cash it at her bank, there is no clearing - the cash will be immediately available.

Why not have her write it to the insurance company and mail it in?

teresa518 Posted: Jan 28, 2003 01:01 PM

Re: question about check made out to cash

Just to make sure, you're not in CA right? Banks in CA have different funds availability rules. Washington Mutual also has a generous funds availability policy - FYI.

The check will be treated the same whether written to cash or to you personnally.

The only way to avoid the hold would be to cash the check at your mom's bank - make sure you bring at least 2 forms of ID. Also - some banks give immediate availability on checks deposited at ATMs - you might look into this at Chase - not sure of their policy.

The other option mentioned above sounds good - have your mom write the check directly to the ins company.

Hope this helps.

WithThisRing Posted: Jan 28, 2003 02:07 PM

Re: question about check made out to cash

i have to bring in a money order post dated by the 6th. if i mail in the check i am afraid it wont get there and clear in time.

i spoke to my dad and he said he would handle this for me because he gets his commission check next week and will go directly to the insurance office and pay it through there and then i just have to give him the cash.

Thanks everyone

Samanthas Mom Posted: Jan 28, 2003 03:47 PM

Re: question about check made out to cash

but if you lose it anyone can cash it! so becareful

WithThisRing Posted: Jan 28, 2003 03:53 PM

Re: question about check made out to cash

another reason why i hate mailing checks. if someone decides to raid the mail box and take the bills i am sending out, they can take my check

I use checks when i have to, but mostly use money orders when i have to pay bills. if its really close to the deadline i'll call it in