Can you cash a cheque from bank A at bank B?

Question

Hi, seems like a silly question but I've never dealt with cheques myself.

My house mate just recieved a Commonwealth bank cheque, and wishes to cash it in at his bank, ANZ. Can he do this, or does he have to visit the Commonwealth?

Cheers.

Answer 1

The other bank will honour and cash the cheque.  The only time one gets into challenges (which are minor) is when you are trying to deposit a cheque from a difference country with different currency.  That's a bit more complex.

Answer 2

He can cash it at his bank.  However, if the check is insufficient, it will be charged back to his account.

To be sure you get your money, cash the check at the issuer bank, then the  money is in hand and cannot be reclaimed later.

Answer 3

Hi, i work at one of the banks you mentioned. He can only cash the cheque at the bank it has been written from, in this case Commonwealth. And the cheque has to be open to cash (which means it written out to cash, or has 'please pay cash' and the account holders signatures on it - if it isn't like this, he will need to deposit it into his ANZ account and it will have to clear before he can access the funds - usually 3 business days)

Hope i helped!!