How To Cash a Two-Party Check

A two-party check is more challenging to be cashed out than ordinary checks. With its nature alone, you can face a lot of problems when you decide to cash one out. This is especially true if you do not have any bank account.

A two- party check is an official check for two entities. It can be for a bank and a person, an institution and a person, and the like. If you happen to get this kind of check, here's how you can cash it out without much of a hassle:

  • Find a bank. Know from which bank your check is released. Then, visit a local branch of the source bank to cash it out. Take note that not all banks will be honoring to cash out the check. Therefore, it is necessary that you find the local branch of the bank that released the check. You can also decide to make this transaction in a bank where you hold a personal account. More often than not, your bank will honor the check for cashing out.
  • Find a checking facility. If you cannot find a bank to transact with, a check-cashing facility will be more than helpful for this purpose. However, before you visit one, make sure to call them ahead of time and ask about the facility and any requirements for cashing out a two party check. Check out also discount retailers and grocery stores. Most big stores like this offer a check cashing service that you can take advantage of.
  • Gather the necessary requirements. The usual requirement for cashing a check is a valid ID with photo. This can be a passport, driver's license, military card, state identification card, and the like. Make sure that the other party has all the necessary requirements, too. Keep in mind that in some transactions, you can be required to submit two IDs.
  • Visit the bank or the facility. Most banks and check-cashing facilities need both parties to be present when cashing the check. This is a primary means of fraud-prevention. Therefore, make an appointment with the other person and go together to your chosen bank or facility.
  • Endorse the two-party check. Endorsing the check means that both of you need to affix your signature at the back of the two-party check. The best place and time to sign the check is in the presence of the teller or the cashier when you are instructed to.
  • Pay the necessary fees. The bank or the check-cashing facility can require you a certain fee for the transaction. Pay this fee to finish off the process. However, in cash checking services in grocery stores, you can be required to buy a certain amount from the store first. Go on and shop for items in the store first.

A two-party check is not at any point hard to cash out. This is especially true if you know the right things to do for this kind of transaction. When you are knowledgeable about the rules of cashing out a two party-check, cashing it out will not be too much of hassle. This is granted that the other party cooperates with you fully in making this transaction.


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