Overall, your best chance of cashing a third-party check is to bring it to either the bank or credit union that originally issued the check or to the bank or credit union where you hold an account.
Bbt online cash manager verification#
Because of these policy variations, it’s always a good idea to call your bank’s branch and ask what verification is needed to cash a third-party check. A number of banks require both parties to be present and provide in-person verification. For example, some banks may call the check’s original payee to verify identity, while others may waive the second-party verification for established account holders. The verification requirements for the check’s payees vary from one bank to the next. To cash or deposit a third-party check, you’ll need to show a current, government-issued photo ID.
Bbt online cash manager how to#
For step by step instructions on how to endorse a third-party check, as well as a list of other places that accept third-party checks, see our article. In most cases, this should be done in front of a bank teller or associate - avoid depositing the check through an ATM or mobile banking app, where it’s likely to be rejected. Third-party checks must be properly endorsed on the back with signatures from both parties. Because of this, banks and credit unions impose strict requirements for accepting third-party checks, and some will not accept them at all. Third-party checks carry an increased risk of fraud and theft. Requirements For Cashing a Third-Party Check You may choose to cash the check directly and use the funds to pay the repair shop - or, you may instead opt to sign the check over to the repair shop that fixed your car, making it a third-party check. For example, if you receive an auto insurance check for your car to cover accident repairs, the insurance company will often send a check made out directly to you. In order to do this, the original payee must sign the check over to the third person.Ī common instance of using a third-party check is for an insurance claim.
A third-party check involves designating payment to an additional payee (the third party). Most checks are two-party checks - one person or business makes out the check to another person, and that second person cashes or deposits the check. You’ll need to show a valid photo ID, and you may need the other signing party present along with you.īelow, we detail what you need to know about third-party checks, including the policies at the banks and credit unions that accept them. Non-account holders may face additional fees, and regulations can vary. In some cases, these banks will also cash third-party checks for non-customers as long as they were the bank that issued the check. banks accept third-party checks and cash them for account holders.
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