To cash business checks you can go to your bank, the issuing bank, check cashing stores, and grocery shops.
Cashing a business check is much different than cashing regular checks. That’s why cashing a business check for the first time can be quite frustrating.
But worry no more. Because here I will provide an in depth-guide on where to cash business checks so that your check-cashing journey becomes hassle-free. Moreover, I’ll also talk about all the related topics. So, Let’s dive in!
First, let’s understand what a business check is.
What are Business Checks?
Business checks are checks issued by or for a business serving various purposes, such as payments, employees’ salaries, or reimbursements.
Unlike personal checks, business checks are tied to a company’s bank account and bear the company’s name and logo. On the other hand, consumers can also make payments to businesses. In that case, these checks contain the business name in the payee section instead of an individual name.
Though online payment services have made paying or receiving money much easier. However, business checks still serve as a formal and convenient way for businesses to make or receive payments.
Now that we understand business checks. Let’s have a look at What you need to cash a business check
What Do I Need To Cash A Business Check
The requirements for cashing business checks are quite similar to cashing other checks with a few differences. Here are some of the must requirements to Cash a Business Check
- Valid Identification: A government-issued valid ID such as a passport, driving license, or state ID is necessary to verify your identity.
- Proper Endorsement: you need to sign your name exactly as it appears on the front. This step is crucial, as it validates your authorization to cash or deposit the check.
- A business checking Account: Though it’s not mandatory for all business checks. However, it’s a must if the check is written in your business’s name and address.
In case, someone is writing your business a check and you do not have a business checking account then request the person to write it in your name instead. Otherwise, the business check will be almost impossible to cash. But who cashes business checks?
Where To Cash Business Checks
You have a lot of options when it comes to cashing a business check. Here are some of the places that cash a business check
Banks and Credit Unions
Your own bank or the place where your business has a checking account is an excellent place to cash your business check. Because most banks offer free deposits. So, you can deposit business checks for free and then withdraw the fund.
However, the whole check fund won’t be deposited instantly. You might need to wait a few days to receive the whole fund.
To Cash business check instantly, you should go to the check issuing bank. Because they can verify the check easily.
On the other hand, the issuing bank might not cash the check in case the check is in your business’s name and you do not have a business checking account. One way to overcome this issue would be to open a business checking account at that branch. But it will take some time.
Check Cashing Stores
Most check-cashing stores accept business checks. Some might be skeptical if the check is in your business name. But with a valid ID and high fees, they will Cash business check instantly.
Large retailers, such as
offer check cashing services and accept business checks for a fee. Though it can be a convenient option if you’re already shopping there. However, most of these stores only cash checks that are below $5,000.
As business checks mostly carry a high amount. So, they might not be the most convenient option always.
By now we have found out where can I cash a business check near me. Can you Cash business check online instantly?
Can You Cash Business Check Online Instantly?
Yes, you can cash a business check online instantly using your bank mobile deposit app or other third-party check cashing apps.
Your bank might not deposit the whole business check amount immediately. However, third-party check-cashing apps will cash the business check instantly. But the catch is the check must be in your name not in your business’s name. Moreover, they will also cash checks below 5,000.
Can I Cash A Business Check Into My Personal Account?
No, banks will not let you cash a check that is in your business’s name into your personal account. Because the banks do not know or can not find out whether you are the sole proprietor of the business.
Cashing a business check at your bank might be the best option. As you can cash it for free. However, no bank will let you deposit your business check into your personal account. As they are not sure who owns the business.
So, if someone is trying to pay your business and you don’t have a business account then request the person to write the check in your name.
By this time we have found out where to cash business checks. Now let’s look at some of the related queries.
Here are some of the frequently asked queries related to this topic.
Will Walmart Cash A Check Made Out To My Business?
No, Walmart won’t cash a check made out to your business. Because Walmart’s check cashing policy mentions they will only cash checks made out to your name.
Will Walmart cash business checks?
Yes, Walmart cash business checks made out to you. The checks have to be equal to or less than $5,000. You must carry your ID to cash it too.
Can You Cash A Business Check Made Out To Cash?
Yes, you can cash a business check made out to cash. However, the payer must mention CASH in the payee area. Only then it can be made out to cash.
Can I Cash A Business Check At The Issuing Bank?
Yes, you can cash a business check at the issuing bank. In fact, it is one of the easiest ways to cash business check instantly. But you must need a business checking account in case the check is made out to your business name.
What Bank Will Cash A Check Without An Account?
Almost all banks and credit unions will cash a check without an account. But you will be charged a fee if you do not have an account.
As business checks are quite common even now. So, it’s better to create a business checking account if you own a business. It will make cashing a business check much easier and you won’t even need to pay any fees for cashing them.