Below that, the original receiver of the check must include the name of the new check recipient. However, its just a simple process of signing the back and writing the new payee name. This site is for informational purposes only and does not provide legal advice or financial advice. Gas stations used to be a much better option for cashing checks, but many places have stopped offering this service because of the high risk of fraud. The easiest way to cash a third-party check is to visit a bank such as Chase, a credit union like Navy Federal, or a check cashing store that offers third-party check cashing services. Cashing a 3rd-party check can often take some time. However, if your bank is one of the few that allows mobile or ATM deposits of 3rd-party checks (you should contact your bank and verify this beforehand), the fastest way to cash a 3rd-party check is to scan it through a compatible app or use an ATM. Personal finance can be broken down into three simple steps: It may sound like a simple process, but it can be extremely difficult to execute. Endorsing the check will sign over the rights to the new payee listed on the back of the check. You can deposit 3rd-party checks at many of the same places as you can deposit regular checks. The original payee must sign the back of the check and write pay to the order of your name to endorse. To cash the third-party check without the other person, you will also have to cash it at a financial institution with which you have a relationship. With that said, here are several banks that cash third-party checks and the fee they charge: Happen to be a member of a credit union? As you can see, it can be difficult to cash a third party check without the original payee. But, some banks do not accept third-party checks; so before you attempt to cash such checks, review your bank's policies. If you click on a link, we may earn a small commission at no cost to you. However, you can deposit a third party check at a financial center. On top of that, bank tellers usually get paid hourly, so each transaction can take longer, which means lower productivity overall for them and an increased chance for mistakes due to fatigue over time. To cash a third party check without the other person: Places To Cash Third Party Checks Near You, Places That Do Not Accept Third-Party Checks. Personal checks are checks from someone's personal checkbook. In the same vein as reading the instructions on the back of the check, its a good idea to contact your bank beforehand to ask what forms of ID they need and for which parties. As a result, financial institutions and check cashing stores will require much more information from you. In this day and age, where instant bank transfers are making millions of peoples lives easier every day, payments made by check can already seem like a lot of unnecessary hassle. Finally, third-party checks are not as common as second-party checks. Third party check cashing places near me: Because third-party checks involve a lot more risk than two-party checks, many places do not offer third-party check cashing services, such as some banks and credit unions, some check cashing stores, and all convenience and grocery stores. Consult the banks policies, but you may need your ID or even both parties ID. Step Two: Endorse the check before you hand it to the teller. If you are trying to cash a third-party check and the other person is not available, there are a few things you can do. Some people have had success with ATM check cashing. Cash the check at a bank, but it may require both parties or photo ID if fraud is suspected. The bank may have further instructions to help you ensure a successful transaction. A debit card can help you cash a check without ID. Make sure that the person signing the check over to you for mobile deposit does not sign or add instructions anywhere beneath the line that says do not sign or endorse beneath this line, as it can cause check processing issues on the banks side. Some financial institutions and cash checking stores might also ask for your Social Security number (SSN). Like banks, many credit unions will cash third-party checks for members and non-members. You can mobile deposit third party checks, but keep the check until the deposit clears. The check is now ready to be deposited by your designated third party. When you endorse a third-party check, it means that you are signing off on the payment and declaring it as good. To endorse a third party check correctly: How Do You Cash a Third Party Check Without The Other Person? They require a two-step process to cash them involving two endorsement signatures. Below, learn which banks will and wont consider cashing third-party checks. Once you create an account or sign in to the mobile app, go to the Deposit checks feature. The payee must sign the back of the check above the endorsement line and write "Pay to the order of" and your name underneath. While many banks and credit unions will cash a third-party check, not all check cashing stores will. Once the check is cashed, there is almost nothing the gas station can do to track down the person responsible. Two to three components are required to cash third-party checks. What does this mean for you? Office 1886 321-323 High Road, Chadwell Health RM6 6AX. Expect to pay a 2-3% fee for this service. According to their site, they only accept two-party checks and up to a $200 max limit. In addition, check cashing stores will charge a large fee for cashing checks. As a customer, your bank should be happy to help you for free. There can also be potential fraud with these types of checks that people need to watch out for. *Amazon and the Amazon logo are trademarks of Amazon.com, Inc. or its affiliates. The bank may require you also to sign the back of the check, write down your official identification number, and perhaps even make you fingerprint the check so you can be traced if any fraud occurs. The Capital One Platinum Secured Credit Card is one example of a prepaid card you can get without any form of ID. Not all retailers accept these types of checks. However, each place does have its own policies, requirements, and fees. Step One: Take the check and your photo ID to the bank or your preferred check cashing provider. Third party checks can often simplify the process of check cashing without an ID. Third party checks require more scrutinization to protect against fraudulent activity. Just insert your debit card, enter your PIN number, select "Deposit Check", insert the check you wish to deposit, confirm the amount, and you're done. Go to the Money Center in your local store to do so. This officially confirms the endorsement. Can I Cash a Check That is More Than My Checking Account Balance? You shouldnt assume that you can deposit 3rd-party checks without in-person interaction, however, as most banks require ID to complete the process. This officially confirms the endorsement. You should contact your bank ahead of cashing the check to familiarize yourself with their policy. Therefore, the best place to cash a third party check is in-person at a bank or credit union. Some of the banks that accept third party checks include: Be sure to call ahead to the bank above and ask if ID will be necessary. Gather two forms of photo identification. 1. Whether you are depositing the check or cashing, the bank may refuse a person this service but not likely as long as you have an ID. With that said, customer service centers at convenience and grocery stores like Costco do not cash third-party checks. Most financial institutions require your actual drivers license. Luckily for you, Im going to show you how to cash a third party check without involving the third party. Waleteroshas a check-cashing app, and it will accept third-party checks for a fee. If you go to Walmart, for example, you may have to pay a fee, which will be based on your check amount. Considering this, you should call ahead to confirm they do before visiting one. You can cash a third-party check at most banks and financial institutions. Most of these apps are tied specifically to your bank accounts. Banks are not required to cash anyones third-party checks, but some banks do provide this service if they feel the transaction is legitimate. Cash a third party check without the other person by first endorsing the check to the third party. Can you cash them at Walmart? In addition, put your cash away before you leave the counter or store. Check cashing places, such as convenience stores, department stores, and markets, do third-party cash checks. 3. This article may contain affiliate links which pays a commission and supports this blog. The good news is you still might be able to cash a check without ID, depending on your situation and the bank or credit union you use. Check endorsements may require both parties, photo identification, and the bank may refuse cashing the check. If you have a family member or close friend who is willing to write a check for you, get a hold of their bank or credit union. If your bank or credit union does require both parties to be present, then its unlikely you will be able to cash the third-party check without the other person. Some states will even allow you to start the application online so you can expedite the in-person process. Follow good practice, and be sure to have ID available when you go to banks. One example of this would be employees who have jury duty and get paid their normal daily salary amount even though they are at jury duty. Hence the name, third party check. Generally speaking, banks (and credit unions) are the best way to cash a third-party check, especially one youre a member of. All you have to do is visit your local DMV or local Secretary of State (SOS) office. To cash a third-party check, you will need the original payee to endorse the check by signing the back and Pay to the Order of your name.. Your email address will not be published. Consult the banks policies, but you, Unfortunately, most banks wont accept mobile deposits of third party checks. Next, endorse the back of the check with your signature and put it into the ATM's check deposit slot. Pay to the order of followed by your name. Cashing a third-party check is a little trickier than one that has been paid directly to you. I am BG Vance and I provide trusted personal finance resources based on experience for your life such as retirement, real estate, budgeting, making & saving money, and much more. Next, write Pay to the order of along with the receivers name under the line that says Endorse check here.. Usually, when cashing a check, people use an ID to complete the transaction. Since you are cashing the check at a bank location, the money should be available immediately once the check has been cashed. If the mobile check deposit does not go through, all is not lost. With that said, here are the two things required to cash a third-party check: A third-party check must be properly endorsed to be accepted and cashed. The first way to cash a check is to use an ATM. Youll need valid identification to use all of these options because the business cashing the check will be most concerned that you are, in fact, the person to whom the check is signed over. These third-party check cashing transactions are risky for a bank because they could lose money if the transaction turns out to be fraudulent. Banks make sure that non-account holders have sufficient funds so account holders can deposit a third-party check. Banks are not obligated by law to accept third-party checks, and it is often up to the discretion of the branch manager. Our reviews are based on independent research. If this isnt an option, your second best bet is to take it to a check cashing store that offers third-party check cashing services, such as Ace Cash Express or Check N Go. Many stores have their own companys branded version of a personal check which cannot be used as a substitute for third-party checks. Just be prepared to pay a fee. How to Cash a Check Online Instantly with Your Phone The first step includes downloading the app from the app store onto your phone. Sign the check over to someone else If you have a friend or relative that you trust, then sign the check over to someone else. Do not try and cash a check online as most banks wont support the transaction. However, you could attempt to cash it at a check cashing store instead. However, other places will cash them as well.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[300,250],'bucksandcents_com-leader-1','ezslot_18',135,'0','0'])};__ez_fad_position('div-gpt-ad-bucksandcents_com-leader-1-0'); *Calling ahead to these stores and checking with a check cashing service is highly recommended, so you dont make a wasted trip. First, before we can discuss the best practices for cashing third-party checks, we have to know what they are. Disclaimer: Crediful does its best to maintain accurate and updated information. If you try to cash a third-party check using an ATM, it will most likely be returned, and you may be charged a service fee. We are able to present this information to you free of charge because some of the companies featured on our site compensate us. PayPal will accept the check and deposit the check for parties as part of their service. Heres a video by Helpful DIY explaining the process of endorsing a third-party check: Because third-party checks create an increased risk of fraud and theft, banks, credit unions, and check cashing stores have strict requirements and conditions for cashing them. Some employers require that the jury duty pay be returned to the employer since the employer is paying the days wages for the employee even though they are absent from work. Several examples of secondary government issued IDs you might be able to use for cashing checks, include: In a perfect world, youd have a primary ID and be able to cash a check quickly and easily. While most prepaid cards require an ID, some dont. You can check out the steps tocash a check made in someone elses namefor proper endorsement. Copyright 2023 TightFist Finance | Powered by Astra WordPress Theme, Luckily for you, Im going to show you how to cash a, The first step to cashing a third party check is. The second difference is that a third-party check requires two endorsement signatures while a second-party check only requires one. She enjoys helping people make smart financial decisions. Its a good idea to contact your bank or credit union to find out whether they accept secondary IDs. If you dont know what a 3rd-party check is, its basically a two-party check that is endorsed to another person (the 3rd party). Some banks may cash a check if the pay to the order is made out to another person and all of the requirements are met for endorsing a check. Someone other than the person the check is made out to is what makes it a third-party check. While it will cost you some money upfront, it might be worth it to invest in a state-issued ID so you can cash a check without the hassle. To cash a check without ID you will need to use one of the available options that banks offer where this is possible. In most cases, youll need a valid form of ID to cash a check. Compared to ATM deposits, mobile check deposits are more convenient. Advertisement. The best chance you have at cashing a third-party check at any of the following financial institutions is to have a current checking account with the bank thats in good standing. This post may contain affiliate links to products that I recommend and I may earn money or products from companies mentioned in this post. You can get their permission by having them sign the back of their check. Bucksandcents.com cannot be held liable for any loss, injury or damage caused by your reliance on information obtained from this site. Additionally, bucksandcents.com participates in various other affiliate programs, and we sometimes get a commission through purchases made through our links. If you do not have an account, prepare to face more hurdles in cashing the third-party check, and steep fees. Third party checks clear just like a two party check. Primary and secondary IDs are usually required to cash a check. The characteristics are listed inwhat is an eCheck and how does it workfor those transactions.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[336,280],'bucksandcents_com-box-4','ezslot_9',132,'0','0'])};__ez_fad_position('div-gpt-ad-bucksandcents_com-box-4-0'); Another drawback can sometimes include being rejected at certain store locations and check-cashing stores. Each bank and credit union has their own acceptable ID forms and unique rules for cashing a check. Two party checks become third party checks when the check is endorsed to a third party. Some banks may allow you to deposit 3rd-party checks by ATM or via a mobile app. Both checks need to be endorsed on the back of the check in order to be cashed by a bank. Using a national bank for check cashing 3rd party checks is the option that makes the most sense. We respect your privacy. Expedited services range from 2% to 5% or a $5 flat fee. Anna Baluch is a freelance personal finance writer from Cleveland, OH. The automated nature of ATMs is not sufficient for handling the process of verifying a third-party check. However, for those people that dont have an ID, cashing 3rd party checks can be done at certain stores without an ID. Statue of Limitations on Debt - State By State, Everything You Need to Know About Filing for Bankruptcy, How To Rebuild Your Credit After Bankruptcy. Compensation may impact how and where products appear on this site, including the order in which they may appear within listing categories. 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