While waiting for the arrival of the digital check, cashing a check is done in the traditional way, that is to say by going to a branch or by post. However, there is a faster way to have your account credited with the amount due. Find out which one. And we also answer all your questions about cashing a check without a bank account. Is it possible ? What are the different possibilities offered? What steps should be taken in the event of an NSF cheque? Do you have to pay to deposit a check in a traditional bank or online? What are the payment deadlines? We tell you everything!
What does it mean to cash a check?
You have received a check and you wish to deposit the sum into your bank account. In other words, you want to cash the check. This is a common procedure when you have an account.
Cashing a check couldn’t be simpler. The following procedure must be followed:
- endorse the check by writing your account number and your signature on the back of the title;
- send the document to your bank so that it can collect it. You can go to an agency or carry out the operation by mail.
Can I cash a check without a bank account?
To cash a check, that is to say deposit the sum in your bank account, it is mandatory to have a current account.
Indeed, it is impossible to cash a check without having a bank account. Even if you are prohibited from banking, you must necessarily have an account in a bank to deposit a check.
To know : there is the right to an account which allows people registered with the Banque de France to have a bank account. If an establishment denies you this right, contact the Banque de France, which will designate a bank. The latter will then be obliged to open an account for you.
How to cash a check?
Before giving your check to the bank, check that all the information is present and legible: date, signature, amount in figures and in words, order. Also, don’t forget to endorse it, that is, write your account number and your signature on the back of the document.
Then, there are several possibilities: go to an agency or send it by post, or even complete the process via your smartphone.
Cash a check on the spot
To cash your check at the branch, simply give your document to the teller or proceed with the transaction yourself. To do this, fill out a slip and slip your check into the box provided for this purpose.
Remember to keep a copy of the remittance slip because the document will serve as proof of deposit in the event of a problem.
The process will only take you a few minutes. And know that you do not have to go to your home agency. You can absolutely cash a check in another branch of the same banking network. However, expect a longer collection period.
To know : some online banks belong to a partner banking network. Therefore, they offer the possibility of depositing a check in one of the branches of the network. The approach remains identical to a classic deposit.
Cash a check by mail
The other possibility is to cash a check by post. However, you must have made a request for check remittance slips beforehand. This formality is completed from your personal space on the website of your bank. The documents will be sent to you by post, free of charge or with bank charges.
By cashing your check by mail, you therefore pass without an intermediary. The letter sent to your bank must contain a slip complete with all the necessary information as well as your check to be cashed. Don’t forget to wear it!
Cashing a check with your cell phone
Some online banks offer this feature. To cash a check, you can use your smartphone. All you have to do is take a picture of your check and download the bank’s application. The establishment then recognizes the information and validates it.
But, you must then send the check by mail. The principle of this approach is only to credit your account more quickly.
Time limits for cashing a check
First, know that a check has a validity period. This is one year and eight days for checks issued in mainland France, and one year and twenty days for checks issued in overseas departments.
In other words, after this time, you can no longer cash the check on your bank account. In this case, it is better not to wait too long to deposit the document with your bank.
Then, when you deposit your check, there is also a time limit for collection. The money does not immediately reach your bank account. Before, the bank questions the bank of your debtor in order to check his solvency.
Generally, the operation takes one working day but the delay can be longer depending on the financial institution and the time of year. Check the smooth running of the transaction by consulting your account statement.
Do I have to pay to cash a check?
The cashing of a check is a free transaction. No bank will charge you for this service. On the other hand, during a collection by mail, you will still have to frank your letter.
Cashing an NSF cheque: What’s going on ?
If you cash an NSF cheque, your account will not be credited with the amount due. You will then be informed of the rejection of payment.
Then, in the event of non-payment of the amount due within thirty days after presentation of the check, you have the right to initiate a payment procedure against your debtor. This is the only solution to get paid and regularize the situation.
To do this, ask your debtor’s bank for a certificate of non-payment. This is an essential document if you have to go through a bailiff.
To note : if the NSF check has an amount less than or equal to 15 euros, the issuer’s bank must pay you this sum within the month following the date of issue.