Is it possible to cash a check over the counter at my bank and then immediately deposit the cash?
A web user asks, I tried to do this with my pay check the other day and they told me it was against bank policy. They said that since the check was tied to funds from another bank, they could not do it. I did not want to just deposit the check directly because it would take longer for it to hit my account.
They told me they could cash the check but I would not be to deposit the cash. Why is this so?
Can you help them out? Post your advice!
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Posted in QnA
if you are going to deposit the money anyway – why on earth would you need to “cash” the check??
you should have no problem depositing the check and if you need $50 right away getting that cash – I do it all the time with checks I deposit – check is for $500, I want $50 in cash, there is usually a line on the deposit slip for that and you wind up depositing the $450 balance
you SHOULD get direct deposit if your company offers it, then you money will be cleared and in your acct by 8:00am on payday