Cashing a cheque in a bank

[Mamamia22]

If a cheque is brought to a bank signed on the back by the person it’s made out to can it be cashed by another individual ? Is there a limit on how much cash the bank will give out ? Cheque is for 12 k.

 

[Monbretia]

I think it's unlikely any bank will cash a cheque at all and especially for a sum like that. Most require you lodge it to your account first. Very few cheques are uncrossed these days so need lodging, at best if the cheque is uncrossed the second individual might be able to lodge it to their account, probably have to wait for it to clear before withdrawing the funds.

It's years since I worked in a bank cash but I wouldn't have even have done it based on that scenario back then.

These days you'd be hard pushed to get a cheque for €50 cashed payable to yourself!

 

[Mamamia22]

I think the cheque might be crossed. If that is the case then I assume it’s not possible to lodge it to another persons account even if the back is signed ?

 

[peemac]

I think the cheque might be crossed. If that is the case then I assume it’s not possible to lodge it to another persons account even if the back is signed ?

I think it can be lodged to another account - or at least could be in the past.

If you wanted it only lodged to a specific account you would add "account payee only"



Bpfi website suggests you can endorse a cheque and lodge into another account

Can a cheque only be lodged to the named recipient of the cheque?
A cheque which is crossed with “a/c payee only” must be lodged directly into the bank account of the named payee. However, if a cheque is crossed with ‘not negotiable’ or ‘& co’ it may be endorsed by the payee, which means it can be signed over to the benefit of a third party on the reverse of the cheque. It can then be lodged to the bank account of that third party.

 

[Peanuts20]

The banks will always lodge the cheque to your account and then, potentially, allow you to withdraw cash on it. That is their risk as the cheque (especially if it is drawn on another bank) is still not cleared and the other bank or the drawer can still bounce it within the timeframe laid down by the clearing rules. If it bounces, even if they have given you cash for it, they will debit the amount back to your account.

 

[Sue Ellen]

If that is the case then I assume it’s not possible to lodge it to another persons account even if the back is signed ?

I think it can be lodged to another account - or at least could be in the past.

Certainly in AIB this is a definite no no. Tried lodging it through the lodgement machine but it was rejected at the end of the day when they clear cheques to be lodged. Cheque had to be lodged to person's own account. They were away at the time which made it awkward.

 

[Feemar5]

Definitely not - in AIB it's difficult to withdraw your own money. I recently tried to change dollars into euro's - had to lodge it to my account and then asked to withdraw the euro equivalent in cash was told that was not possible - the amount was 1181.19 and told I had to round it up to 1200 or down to 1150 and go to cash machine in bank and withdraw there. Teller said they are not allowed to give out cash any more - must be done at machine.