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I have been given a cheque made out for CASH am I able to cash it at any bank
An open cheque or a cash cheque is one that can be taken to the bank that issued the cheque and converted to cash right away. The bank will ask proof of identity from the person cashing it to ensure that they are paying the correct person to whom the cheque was issued to
No. The only person who can cash a cheque is the person to whom it was made out to. The bank will not pay cash to anyone else. However, if the person has given a legal power of attorney to another person, that person would also be able to cash the cheque because he is acting on behalf of the person to whom the cheque was given.
is it possibile to cash a cheque at lloyds branch
Yes they can do it.
I have been given a cheque made out for CASH am I able to cash it at any bank
There will be no entry in cash book when cheque is paid into bank if cash was deposited into bank then there will be entry in cash book
An open cheque or a cash cheque is one that can be taken to the bank that issued the cheque and converted to cash right away. The bank will ask proof of identity from the person cashing it to ensure that they are paying the correct person to whom the cheque was issued to
Submit it to the Teller in a bank where you have a bank account. If it is a bearer cheque and you have an account in the same bank as that of the cheque, you will be paid cash immediately. If it is an account payee cheque, money will get credited to your account in the next 2-3 days
A Bearer cheque is one which the bearer (the person to whom the cheque was issued) can present at the bank on which the cheque was given and receive the cash For ex: If I give you a cheque on my ICICI Bank account in Chennai to you, you can take that cheque to any ICICI bank branch in Chennai and collect the cash that is written on it (if i have sufficient balance in my account) whereas a crossed cheque is one that cannot be cashed as said above. It can only be deposited into the payees (your) bank account
No. The only person who can cash a cheque is the person to whom it was made out to. The bank will not pay cash to anyone else. However, if the person has given a legal power of attorney to another person, that person would also be able to cash the cheque because he is acting on behalf of the person to whom the cheque was given.
is it possibile to cash a cheque at lloyds branch
You cannot. A Crossed Cheque is also called an Account Payee Only Cheque which means that, this cheque cannot be cashed directly. It can only be deposited into the bank account of the person to whom this cheque is issued. So, the only way you can cash the cheque is by opening a bank account (or using your existing bank account) and deposit this cheque.
A Bearer Cheque is a type of cheque which will be encashed by a bank and paid out as cash to the person holding the cheque. For ex: If I owe you Rs. 10,000/- and give you a bearer cheque of my bank account with ICICI Bank, all you have to do is, visit your nearest ICICI Bank branch and then submit the cheque for payment. The bank will ask for your identity proof to verify that you are indeed the payee for the cheque and if they are satisfied, they will give you the cash right away.
Open cheque - An open cheque is one that can be taken to the bank that issued the cheque and converted to cash right away. The bank will ask proof of identity from the person cashing it to ensure that they are paying the correct person to whom the cheque was issued to Crossed cheque - A crossed cheque is also called an account payee cheque. This is a cheque that can be cashed only by depositing it into a bank account of the person who received it. It cannot be directly converted to cash.
A check/cheque book is a collection of cheque's. These cheques can be used to make payments to anyone. They are as good as cash (Provided there is cash in the cheque drawers account)
by putting it in your bum and giving it with your mouth