Q&A for How to Cash a Check

No, if you don't have an account with the bank and the person who wrote the check doesn't have an account there, they will often refuse to cash the check. You have a better chance if you're at the bank of the person who wrote the check, there's enough money in their account to cash the check, the check is not older than 6 months and the check is made out to you and you can show ID to prove it. Even if all of this is true, however, you still might be charged a fee if it's not your bank.

$4 for checks up to $1,000 and $8 for checks from $1,001 to $5,000. For a two-party personal check, the limit is $200 and the max fee is $6.

Relatively small amounts (under $100 or $200 in the US) are usually available within a day. Larger checks can take a few days to clear. You can ask your bank for its specific policy, or check the deposit slip for an estimated time.

No, but you may need to show a picture ID.

The only way to know is to deposit it and see if it successfully clears.

You can turn the check into cash at a cash-checking service, or at the bank that issued the check. You'll have to pay a fee to do this, but you can start an account at that bank to avoid that. Alternatively, endorse the check to a relative and accompany him or her to the bank.

No. Typically, you can only use an ATM to deposit a check made out to your name.

At minimum, keep the slip until you can check it against your monthly bank statement, to make sure everything is in order. Keep larger deposit slips and business-related slips for a few years in case of a tax audit. In the United States, the IRS will only audit documents from the last three years, or seven years if it suspects serious fraud.

The check will either be returned as having insufficient funds and the amount will be withdrawn from the account in which you deposited it, or the issuing bank will cover the check and charge the person who wrote the check a fee.

To endorse a check to someone else, write on the back of the check: "Pay to the order of (other person's name), (your signature)." Some banks will not accept this deposit unless both of you are present to approve it.

Go to a branch of the bank that issued the cashier's check, and cash it there. Take valid picture ID with you. As an alternative, if there is a local retailer where you are well known, you could try cashing it there.

Yes, if the payee has endorsed it over to you.

Banks like picture IDs: driver's license, government-issued ID card, student, military, or employment ID.

Yes, within a few days.

Yes.

You can put it in a savings account, but if you have a money-market account, put it there temporarily until you can find a safe but better-paying investment for it.

That conceivably could work, but every bank or other cashier has its own check-cashing policy.

Endorse the check and present it to a teller.

It's not illegal, but it's also not common practice.

If the check writer has no money in his/her checking account, it wouldn't do you any good to cash the check. Even if your bank gives you the money, it will take the money back from you once the check is found to be no good.

Maybe, if the amount is written out on the next line.

If you mean you want to deposit a check through an ATM, it will not be credited to your account until the check clears.

Sign your name on the back of the check.

Yes.

You do not need to put the account number on the check.

Yes.

No.

Yes, if you have picture ID.

The teller will want to know your account number, too.

If you have online access to your account, your online ledger will show the withdrawal from your account the same day it occurs, which could be two or more business days after the check is presented to the payee's bank. Without online access, you won't be notified until you receive an end-of-month statement from your bank.