Can i cash in a personal check even if he doesnt have enough funds in his bank account?
Answers:
you can cash it but your friend will get in trouble with the bank if the check bounces. he will pay extra fees. this is the premise of nigerian 419 scams. they give you a cheque to cash and the bank will give you the money but after 3 or 4 days they will find out there was no money in the account from which it was drawn, and will go after the account holder. banks work on trust, so yeah you can cash it today if you want but know your friend will eventually get in trouble with his bank
The bank will turn away the check unless the guy has overdraft protection. A check cashing place might take it but you will pay some hefty fees and when it bounces they will come looking for you.
If I were you, I would take it to the bank that it is drawn on. If there are enough funds in the account, the bank will cash it for you for about a $5 fee, if you don't have an account with them. If you try and cash it through your account, you have to have enough funds in your account to cover the check. If for some reason he doesn't have enough funds in his account, it will come back to your account as a bounced check. You will be held accountable for the funds along with the returned check fee.
If the funds are not in the account, you cannot cash the check.
it will bounce and hurt your friend's credit terrible.
I am sure you will get it cashed though.
1) What kind of friends do you have?
2) If someone gives you a check, knowing it will bounce, they belong in jail
3) You can go to your bank and see if they will find out if the funds are in the person's account. You can go to their bank to find out.
And... Go find better friends.
Maria Marsala
http://www.elevatingyourbusiness.com...
Nope and Nope.
If the funds aren't available in his account the bank will not cash the check and even with overdraft protection his limit would have to be at least the amount of your check. But if he's been writing bad checks continuously your check will more than likely be rejected. If you go to a check cashing they will want to verify funds with that bank. If your friend is working and has direct deposit I would go to the bank the check is drawn on on the day he gets paid and cash it that way you have your money. If that doesn't work talk to your "friend" and maybe make a payment schedule or take legal action if it is a repayment.
You yourself can call your friend's bank to verify if the funds are there or not. If they are not and you try to cash the check at your own bank, your bank will come after YOU for the NSF.
Suggestion: next time get CASH from your friend instead -- less hassle. Time is money too.
You are entitled to present the check. If the funds are unavailable, the bank will charge him $25 for a bad check. And you can go to the police too - it's illegal to write a check if you know the money isn't there.
If there isn't sufficient money in the account, you won't get it.
Just because you really need it today doesn't mean you should do something that will come back to bite you big time a few days from now. Yes you can get the money today -- insist that your friend give you cash.
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