#Bbt online cash manager verification#
Because of these policy variations, it’s always a good idea to call your bank’s branch and ask what verification is needed to cash a third-party check. A number of banks require both parties to be present and provide in-person verification.
For example, some banks may call the check’s original payee to verify identity, while others may waive the second-party verification for established account holders. The verification requirements for the check’s payees vary from one bank to the next. To cash or deposit a third-party check, you’ll need to show a current, government-issued photo ID.
#Bbt online cash manager how to#
For step by step instructions on how to endorse a third-party check, as well as a list of other places that accept third-party checks, see our article. In most cases, this should be done in front of a bank teller or associate - avoid depositing the check through an ATM or mobile banking app, where it’s likely to be rejected. Third-party checks must be properly endorsed on the back with signatures from both parties. Because of this, banks and credit unions impose strict requirements for accepting third-party checks, and some will not accept them at all. Third-party checks carry an increased risk of fraud and theft. Requirements For Cashing a Third-Party Check You may choose to cash the check directly and use the funds to pay the repair shop - or, you may instead opt to sign the check over to the repair shop that fixed your car, making it a third-party check. For example, if you receive an auto insurance check for your car to cover accident repairs, the insurance company will often send a check made out directly to you. In order to do this, the original payee must sign the check over to the third person.Ī common instance of using a third-party check is for an insurance claim. A third-party check involves designating payment to an additional payee (the third party). Most checks are two-party checks - one person or business makes out the check to another person, and that second person cashes or deposits the check. You’ll need to show a valid photo ID, and you may need the other signing party present along with you.īelow, we detail what you need to know about third-party checks, including the policies at the banks and credit unions that accept them. Non-account holders may face additional fees, and regulations can vary. In some cases, these banks will also cash third-party checks for non-customers as long as they were the bank that issued the check.
banks accept third-party checks and cash them for account holders.
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