Cashing a Cheque

[maxjam]

Simple:

I know nothing about cheques... they are old skool to me.

Have an AIB cheque, written out to pay me 30 euro.

Whats the fastest way to get cash from it?

Can i cash it in any bank?

 

[CCOVICH]

Is it endorsed/crossed in any way, i.e. are there two lines accross the cheque?

If not, you should be able to cash it at an AIB branch. If it is crossed, you will have to lodge it to your account.

You may have to present ID to verify that you are the payee.

 

[maxjam]

No, no crosses, slashes etc, it just says who to pay and how much.

 

[bond-007]

If not, you should be able to cash it at an AIB branch.

Only the AIB branch the cheque is drawn on will be able to give you cash for it.

 

[Guest127]

didnt think any bank cashed cheques now. Thought they all insisted you lodge them to your account and withdraw the amount of the cheque from your account ( provided its there, of course)

 

[bond-007]

Cheques can only be cashed at the respective branch on which they are drawn on unless they are crossed.

 

[zat29]

I also know nothing about writing and cashing cheques.
1. Can someone tell me how to make a cheque out to cash so it can be given to anyone.
2. I've heard of people making cheques out to themselves which they can cash - where can you cash such a cheque? I know its illegal to write a cheque if there isn't sufficient funds in the account.
3. Crossing a cheque with 2 lines and writing &co through the middle ensures its security ?

Are there any other tips and hints re: cheques that people could tell me of.

 

[bond-007]

1. Simply write cash in the pay to line.
2. These cheques can only be cashed at your branch.
3. Yes, it ensures the cheque cannot be exchanged for cash or given to a 3rd party.

 

[CCOVICH]

1. Write out the cheque 'to cash'.
2. In the bank on which it was drawn, i.e. your own bank. You could do the same when you make a withdrawl, so I can't think of a reason for doing this. Maybe retailers would allow you to do this if they know you, or certain credit cards come with cheque books that I guess people could use as (an expensive) means of accessing cash.
3. Not really, for maximum security, cross the cheque with the words 'A/c payee only' between the lines, i.e. the cheque can only be lodged to the account of the payee.

 

[CCOVICH]

3. Yes, it ensures the cheque cannot be exchanged for cash or given to a 3rd party.

You can endorse a crossed cheque unless it is crossed 'a/c payee only'.