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Are third party checks legal?
Yes, third-party checks are legal. A third-party check is a check where the original payee endorses the check over to another person or entity by signing the back of the check. However, some banks may have restrictions or policies regarding accepting or cashing third-party checks.
What do you do with uncashed social security checks?
If they were yours you would cash them. It is assumed they are payable to a deceased person. They must be returned to the Social Security Administration. Keeping or cashing checks made out to another payee is a criminal offense.
If a payroll check cashed at a check cashing facility is NSF can the check cashing facility hold the payee liable?
Yes, the payee received the funds from the bad check and is responsible for returning those funds to the check cashing facility. The payee can then seek restitution from the maker for the funds from the check plus any fees, etc. they paid.
Do cashier's checks require a payee?
yes but Money Orders do not require a payee
What check does not require a payee?
All checks require a payee. Payee is the person who is going to use the check and get the money. You cannot issue a check that does not have a payee.
I found some checks and i want to cash them. but where should i?
First and foremost, you must check if the checks you found are valid (if they are more than 90 days old, they are expired and they do not carry any value) If the checks you found are valid then you need to check if your name is on the check as the payee. You can only cash checks that are paid out to you. Cashing someone else's check is a crime and you can be jailed for it.
If check cashed at check cashing service is returned who is responsible?
The payee (person who received the money from the check cashing service) is responsible to the check cashing service for the bad check. They must repay the money and any fees associated with the check return. However, the maker (person who wrote the check originally) is responsible to the payee for providing an alternate form of payment for the amount of the check, and may also be liable for any fees associated with the check's return that the payee had to pay to the check cashing service. So, in short: The person who received the money from the check cashing service repays the service The person who originally issued/wrote the bad check is still responsible for paying the person to whom he gave the bad check.
Can you cash a check dated for next day?
Most banks and check cashing services will not cash "post-dated" checks until the date comes due on the date of the check. However, legally, some jurisdictions have laws that allow the negotiation of post-dated checks under the premise that the payee should be able to collect immediately when given a check.
What if you stop payment on a check due to the payee saying he lost the check but he cashed the check at a check cashing business after you stopped payment on the check what happens?
The check cashing business will be unable to recover the funds from your bank.
Can you use account payee checks as self check?
No. An Account Payee cheque can only be paid into a bank account and not as cash, which is the case for a self cheque.
If you write a check and did not know that there were NSF and it is cashed at a check cashing place without verification is the check cashing place a holder in due course?
Yes.Please understand it is irrelevant whether the check was verified by the check cashing place or not. Although it may be a risk management best practice, check cashing services (including banks) are simply not able to immediately verify funds every check that they cash. The determination of whether to cash the check is a complex matrix that the cashier or teller as well as the system they are using are well trained to apply.If you write a check, you are making a contract saying, "I have X dollars in my account numbered 1234567890 at Drawee Bank and I want Drawee Bank to withdraw that money and give it to Payee." You must have already verified that X dollars are available to be given to Payee. If they are not, youmust find some other way to give Payee the money you have legally agreed to give him.The check cashing place is owed money from the Payee because it is really the Payee's problem to track you down and receive reparations from your bad check. It cannot be the check cashing place's problem. They should seek the funds that they gave to the Payee expecting (as they should) that your check would be honored, before they discovered that it was not. You will need to make the appropriate arrangements to repair any damages this has caused to Payee, including the original amount you agreed to pay him.
What does ac mean on the payee line of us treasury checks?
what does a % sign mean on a us treasury check
