Checks cannot have an address

Cashing a crossed check: you need to pay attention to this

Many people only know checks from television But even today you can still get embarrassed about cashing a crossed check. t-online explains what you should pay attention to.

Just pull out the checkbook and the debt is paid: Many people know this picture, especially from films. Most wealthy people kept the checkbook in the breast pocket of their tailor-made suit. But instead of putting their sweeping signature on thin paper, more and more people nowadays pull out their mobile phones when it comes to Transfers goes.

As a result, the check is not out of date: You can still come across checks today, for example if an insurance company reimburses you for money. In these cases, you are very likely to become one V check - the short form for one Personal check and the most common type of check in Germany - received. t-online explains what is behind it and what you should pay attention to.

What is a personal check?

A Personal check is like aOrder check and a Cashier's check a security with which the issuer of the check instructs his bank to pay out money to you as the redeemer. In contrast to a cashier's check, however, you will receive a crossed check no cashbut the money will Credited to your account.  

You can recognize a crossed check by the fact that it bears the note "Only for settlement" is marked. The purpose of this procedure is to provide you and the issuer of the check abuse because the bank can clearly see who cashed the check and thus received the money.

What is the difference between a crossed check and other types of checks?

In addition to the crossed check, there is also Order checks and Personal checks. An order check is an even more secure variant of the crossed check. Because: anyone can cash a crossed check without being asked for authorization.

In the case of an order check, however, the Name of the beneficiary noted on the check so that only the latter may cash the check. The payee signs the check again on the reverse.

You can cash the checks at the bank. They have more work to do with order checks, because they have to check whether the owner or the person delivering the check is entitled to pay out.

If there is a messenger, they have toTransferring receiving rights of the amount of money have been. This process is called endorsement (read more about this here).

At a Cashier's check get the money bar paid off. To do this, however, you have to go to the bank on whose account the check is made out. At a Personal check instead, contact yours own house bankdo not have to go to the exhibitor's bank.

Important: If the check issuer's account is insufficient, a bank can also refuse to pay the check - regardless of whether it is a crossed check, an order check or a cashier's check.

How do I cash the personal check?

In order to cash a crossed check, you must have an appropriate one Redemption form fill in - similar to a transfer. This is ready in your bank. You have to enter your bank details there, date and sign the form.

Are you a customer of a Direct bank without branches, the check form can usually be downloaded from the Internet. You print it out, fill in the necessary data and send it to the bank with the check by post.

If the form is not available on the Internet, you should use the personal check short cover letter with details of your account to which the credit is to be made. Pure online processing for cashing the check is not possible.

With crossed checks, however, you need a little patience before you can be happy about the money. Up to ten days it may take time for the bank to pay your total Credits checking account.

Many banks also charge for cashing checksfees on - regardless of the type of check. This is what you should keep in mind when faced with the choice of receiving your payment by check or wire transfer.

What deadlines do I need to consider?

If you want to cash a crossed check, don't wait too long because one is valid Submission deadline of eight days for German checks. In the case of European checks, the period increases to 20 days, in other countries even to 70 days.

After the deadline, the banks are no longer obliged to cash the check - most do it anyway goodwill. After the check has been submitted, it usually takes a few days for the money to be credited, as the bank first checks whether the account of the check issuer has sufficient funds.