cheques: difference between "to pay JOE BLOGGS" and "to pay CASH"

P

paf

Guest
Hi,
just to add confusion re the crossed cheques,whats the diifference between making a cheque payable to a person ie, "to pay JOE BLOGGS" and "to pay CASH" just curious is this a typical thing in business or what?
 
Re: cheques

Used to be a thing in business when you could cash chqs freely. Nowadays to cash a chq you have to have identification.....how do you prove it's yours if it's payable to cash ?

I guess your local bar or bookies will cash it for you if they know you well enough !

It was really just to avoid tax in the black economy...in my opinion for what it's worth.
 
Good question paf...

I actually recently received a cheque made out 'to cash' for a few hundred Euro.

Just wondering how I cash the thing... Is it necessary to lodge to my account or can I just walk into a bank and have it cashed (which I doubt in case such a chque would bounce)
 
paulocon said:
Good question paf...

I actually recently received a cheque made out 'to cash' for a few hundred Euro.

Just wondering how I cash the thing... Is it necessary to lodge to my account or can I just walk into a bank and have it cashed (which I doubt in case such a chque would bounce)
Click to expand...

Making cheques payable to cash is not a good idea.

In theory anybody can cash the cheque.
If you go to the branch of the bank on which the cheque is drawn you should be able to cash the cheque without difficulty assuming
(i) there are sufficient funds
(ii) the cheque is not stopped

For small(ish) amounts going to another branch of the same bank may be sufficient to cash it.
 
I could be wrong but I dont think you can cash a cheque made to cash, except at the branch it was drawn at, no matter how much its for.
Only other option is to lodge it in your account.
 
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