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If you want to know how bank checks work, it's like this. You write an instruction (called a check) to your bank, telling them to pay a certain amount of money to a specific person (although you can also make out a check to "cash" meaning that anyone can cash it). You can then give this check to the person you wish to pay. This person then deposits the check in his or her account. His or her bank goes through a process of check reconciliation on a daily basis, because there are a huge number of checks being written and what matters to a bank is the total difference between how much money they are receiving from another bank, and how much money they owe to that same bank. If they are receiving $10,350,000 from a given bank, but also owe $10, 010,000 to that same bank, then the difference is $340,000 which they would then receive from that bank. Meanwhile, your personal account is debited for the check you wrote, and the person who deposited your check is credited. The money, thus, is transferred, as you specified.
What else can I help you with?
Can I cash a check at this bank?
Yes, you can cash a check at this bank if you have an account with them or if the check is drawn from their bank.
Can you check your bank account balance?
I want to check my A/c
Can I cash my check at Bank of America?
Yes, you can cash your check at Bank of America if you have an account with them or if the check is drawn on their bank.
Can you cash a cashier's check at a bank?
Yes, you can cash a cashier's check at a bank where the check was issued or at the bank where you have an account.
How do you read the back of a cashed bank check?
When a check is cashed at the bank, there is information the bank prints on the back of the check. The information includes the date and the bank and routing number of where the check was cashed.
Can you cash a check at a different bank?
You can cash a check at a different bank if the check was drawn on that bank. Some banks will cash a check drawn on a different bank but funds will not be available right away. They will wait for the check to clear.
What would you use to check your bank balance at the bank?
Check my balance
How do you check balance in bank online?
To check balance online you can download the app of respective bank or you can check it also on bank's official website.
What is a personal check for which a bank is guaranteed payment is called?
cashiers or bank check!
Find out if a check has cleared the bank of New York?
You can check by phoning your bank.
Can I cash a cashier's check at this bank?
Yes, you can cash a cashier's check at this bank.
Can you cash a cashier's check at this bank?
Yes, you can cash a cashier's check at this bank.
