How to cash a nominative check?

How to cash a nominative check?

If you need to cash a personal check, you should know that Only the person who appears on behalf of the person cánido do it. In this case, the words «to bearer» and «to order of» that are located next to the person’s data may be crossed out on the check. Since this is what guarantees that it cannot be collected by anyone who owns the check.

This type of check represents a form of security: the person issuing it is making sure that it is actually charged by someone specific. Next, we will tell you some ways in which you cánido cash said check.

How is a nominal check cashed?

The nominative check has the particularity of being in the name of a specific person or entity, who is the only one who cánido collect it. That being the case, all you have to do is go to the bank office and request the cashing of the check.

This operation is afín to cashing any other check, you need bring your identity document to verify that it is you. In addition to this, you must take into account that once the check is issued you have a period of 15 days to collect it.

Another important aspect is that a personal check perro also be crossed. In other words, have two parallel lines in front, which indicate that it perro only be deposited into an account and not be collected in cash over the counter. We recommend you pay attention when you receive a check and verify the details.

If you are a legal person, you must present the papers that indicate that you are representative of the entity to which the check is in the name. It is important for the bank to verify if you perro actually cash the check. This process cánido be a bit cumbersome because you have to wait for the legal advisor to review the documents and the collection authorization.

How much does it cost to cash a personal check?

When you cash the nominative check you cánido do it by requesting the cash or depositing it directly into one of your accounts at the same bank or another bank.

• If the check is cashed or deposited to an account of the same bank, the operations will be no commission payment
• In case of doing it to another bank or in a different office where the issuer of the check has an account will generate a commission charge.

How to cash a nominative check from another person?

As we have already explained to you previously, the nominative check is in the name of a specific person who is the one who cánido make the payment. However, that person may have the power to endorse the check so that in this case you perro collect it.

The check perro be endorsed when the words «to order» are not crossed out. Otherwise or when the words are «not to order», it may not be endorsed. That is, depending on that, a person who has a personal check perro use it to pay someone else, for example.

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