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Can a check written by a deceased person be cashed?
It is highly unlikely that a bank will cash a check written by a deceased person. The bank has no way to verify that the check was written before the death.
How long does it take for a check to bounce?
It takes about three to five days before a check will bounce in most banks. That gives a person time to deposit the money to cover the check.
Are checks written by a depositor and paid by the bank?
Yes, a person with a bank account (a depositor) can write a check against that account for a sum of money. The person given the check (who the check is made out to) then presents it to their bank and the banks between them move the money from the account of the person who wrote the check to the account of the person who was given the check.
Can a bank cash a check before the date it is dated for?
Yes. National banks are permitted to pay checks even though payment occurs prior to the date of the check. A check is a negotiable instrument-the payee, the person to whom the check is written, may negotiate it through the banking system at any time. If you have incurred damages because a check has been negotiated before its date, you should directly pursue the payee for restitution.
What banks do not charge a fee to cash out of country check?
All banks will charge you for collection of an out of country check. Since the process of check collection of an out of country check involves liaising with banks from other countries, banks usually charge a fee to the person who is cashing that check. It will take 2-3 weeks to get your cash from an international check.
Is it legal to write a post dated check in Pennsylvania?
Yes, it is legal to write a post-dated check in Pennsylvania. However, banks are not obligated to honor post-dated checks, so there is a risk that the check could be deposited before the date written on it. It is recommended to communicate with the payee about the date the check should be deposited.
Who has the liability of endorsement on a deposited check?
The payee, who is the person the check is written to. If they don't sign the back of the check before they deposit it, then the bank the check is drawn on (where the person who wrote the check banks at) can return the check for up to 7 years after it is deposited into the payees account. If that happens, then the bank where the payee banks at (where the check was deposited) will usually debit your account for the amount of the check. Also, if a check is made out to more than one person and includes the word "and" between the persons names, then both must sign or it must be deposited into an account owned by all payees listed on the check and stamped by the bank. If the word "or" is between the names, then only one payee need sign it. If it is made payable to a business or trust, then it must go into a business or trust account. It cannot go into the personal account of the business owner or of a trustee.
What is a Check Report used for?
There is really no such thing as a check report. There are check reporting services such as ChexSystems that businesses and banks may use before accepting a customer's check.
Can someone else deposit a check made out to you?
A check that is made out to someone else can be deposited into your account if the person has signed the check. Check with your bank because many banks require that the person, who's name is on the check, be present during the deposit.
Can you deposit a check made out someone else?
A check that is made out to someone else can be deposited into your account if the person has signed the check. Check with your bank because many banks require that the person, who's name is on the check, be present during the deposit.
Do you need a bank account to cash a check?
No. Take the check to the bank that it is written on. Some banks will charge you a fee for cashing the check if you don't have an account with the bank, but they will cash the check.
Who is the drawer of a check?
The bank is the drawee.The person writing the check is the maker or drawer.The person to whom the check is written is the payee.
