Difference between cashing and depositing a check?

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What's the difference between these 2 options? Does cashing a check not create a record in your account? If so, why would banks allow this - wouldn't they want a notation of all transactions? What is required to cash a check?
 

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Cashing a check at your bank is essentially a simultaneous deposit/withdrawal of the same amount. Since your balance covers the check the bank is protected against an NSF check and is simply extending a courtesy.
 

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Why is it not treated like a simultaneous deposit/withdrawal? I've deposited and withdrawn (using the same slip) before, but never cashed a check. Is there a difference?
 

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i'd always rather cash the check at the bank instead of depositing it.
on your monthly statement, the deposit of course shows up while the cashing of the check does not.
 

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i'd always rather cash the check at the bank instead of depositing it.
on your monthly statement, the deposit of course shows up while the cashing of the check does not.


there is no way for me to cash a check without it showing up in the account unless it is done at moneymart or one of those commission shops.

If I do it at the bank, the check goes in the account then comes right out.
 

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If you need a check cashed with no record you can go somewhere and pay a fee.

I remember as a kid being able to cash a check at the bank without having an account and just got money, may have just been because it was a small amount.
 

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What does that do?


Just means that if you have the funds to cover a check you can deposit your check "as cash" (on the deposit slip) and the funds from the check are made avalible right away.
 

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I've cashed perhaps 60 checks at bank of america from sportsbooks payment processors (I have an account there)


the key work is CASHING it - not depositing it - and no it DOES NOT EVER appear on my account statement so no paper trail.

like I've posted before, probably helps to have a long relationship with your bank, and also plenty of funds in your account to cover the check in case it bounces.

gl
 
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I've cashed perhaps 60 checks at bank of america from sportsbooks payment processors (I have an account there)


the key work is CASHING it - not depositing it - and no it DOES NOT EVER appear on my account statement so no paper trail.

like I've posted before, probably helps to have a long relationship with your bank, and also plenty of funds in your account to cover the check in case it bounces.

gl


correct.
 

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if you're asking me seymour, all the big boys. usually 2K to 4K. I have a couple very large branches nearby so I spread it out and tend to get lost in the bustle - often they are checks drawn on banks outside the US too

I do the same thing a lot with checks from customers made out to my business...sole prop. the key there
 

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I've cashed perhaps 60 checks at bank of america from sportsbooks payment processors (I have an account there)


the key work is CASHING it - not depositing it - and no it DOES NOT EVER appear on my account statement so no paper trail.

like I've posted before, probably helps to have a long relationship with your bank, and also plenty of funds in your account to cover the check in case it bounces.

gl

I used to be able to do that in the past, but not lately, and my wife is the Branch manager at the bank, she says (here in canada) there is no way for you to cash the check without it running through your account.
 

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if you're asking me seymour, all the big boys. usually 2K to 4K. I have a couple very large branches nearby so I spread it out and tend to get lost in the bustle - often they are checks drawn on banks outside the US too

I do the same thing a lot with checks from customers made out to my business...sole prop. the key there


i take it you get in cash what you will actually spend, as it sucks not to be able to earn interest on cash or invest it if its just sitting under your matress.
 

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you can always just go to whichever bank issued the check to cash it
 

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