While waiting for the arrival of the digital check, the classic approach is to put a check in the bank to cash the sum. But how should it be done in practice? Follow our advice to choose the most suitable solution for your situation. And discover all the specificities of depositing a check: price, collection time, formalities for NSF cheques… We tell you everything about how to put a check in the bank!
What is it to put a check in the bank?
Putting a check in the bank means you cash it. Indeed, after receiving a check, the logical step is to deposit the amount in your bank account. Also, it’s about cashing out.
To do this, you must follow a few essential steps:
- first, endorse the check by writing your account number and your signature on the back of the document;
- then send the check to your bank to collect it. You can go directly to the branch or carry out the operation by post.
To know : to put a check in the bank, you must have a current account. Without an account, it is impossible to cash a check.
Note that there is the right to an account which allows everyone, even those who are registered with the Banque de France, to have a bank account. If a bank denies you this right, contact the Banque de France, which will designate an establishment. The latter will then be obliged to open a current account for you as soon as possible.
Information to check before putting a check in the bank
Before putting your check in the bank, it is advisable to check the presence and the legibility of all the information essential for cashing:
- date ;
- amount in figures and in words;
- signature ;
- This information is not mandatory, but strongly recommended;
- write your account number on the back of the document;
- signature on the back of the document for endorsement.
Deposit a check at the branch
The first possibility is to go there to cash your check. It could not be easier. Just give your check to the teller or do the transaction yourself. Fill in a slip available in self-service in your branch, and then slip your check into the box provided for this purpose. Be sure to keep a copy of the remittance slip as it is proof in the event of a problem.
Apart from the displacement that this implies, this option will only take you a few minutes. Know that you also have the possibility of going to any branch of the network. However, the collection time will be longer than if you carry out the operation in your branch.
To note : online banks belong to a partner banking network. It is therefore possible to deposit a check in one of the branches of the network, by proceeding in the classic way.
Read also: Bank check from La Banque Postale
Cash a check by mail
If you cannot go to an agency, know that it is quite possible to have a check cashed by mail. Beforehand, you will have to make a request for remittance slips by check. The process is carried out online, from your personal space on the bank’s website. Then, the documents will be sent to you by post, either free of charge or with invoicing of bank charges.
To then submit your collection request to the bank, simply send it the slip completed with all the essential information and your check to be cashed, previously endorsed.
Can you cash a check with your smartphone?
This feature is still rare. However, some online banks are starting to offer it. To cash a check more quickly, you can use your mobile phone with an Internet connection.
To do this, take a picture of your check and download the bank application. The establishment recognizes the information and validates it.
But be careful, cashing a check with your smartphone does not save you from having to send the check by post. This feature only saves time on collection. Some would say this is purely a marketing service.
How long does it take for a check to clear?
First, a check has a validity period. It is one year and eight days for checks issued in mainland France. And for the overseas departments, it is one year and twenty days.
After this time, the check can no longer be cashed in your bank account. With this in mind, it is preferable not to wait too long before depositing a check at the bank.
Then there is a collection time that varies depending on the bank. Indeed, the money does not immediately reach your account because the establishment must carry out checks. Before depositing the sum, the bank interrogates the institution of your debtor to ensure its solvency.
Generally, the operation takes one working day but the delay can be longer, especially during the holiday season. To check the smooth running of the transaction, check your account statement regularly.
Does it pay to put a check in the bank?
Cashing a check is totally free. No institution, whether a traditional bank or an online bank, will charge you for this service.
Only provide postage for mail if you are doing the process by post.
What happens if the check is NSF?
If an NSF check is cashed, your bank account will not be credited with the amount due. The bank will then inform you of the rejection of payment.
If you do not obtain payment of the amount due within thirty days after presentation of the check, you can initiate a payment procedure against your debtor. This solution is recommended to be paid and to regularize the current situation.
To initiate the procedure, ask your debtor’s bank to give you a certificate of non-payment. This document is essential if you want to go through a bailiff.
Finally, note that if it is an NSF check for a small amount (equal to or less than 15 euros), the issuer’s bank is obliged to pay you the sum. It has one month following the date of issue to make the payment.
Read also: Check rejection at the Postal Bank