2021-07-02 04:36:34
How Cheques WorkIts a deposit check not a counter cashout check✓Depositing a check into a new bank account is not advisable. It’s a 50:50 chance of it dropping.
✓Check history of the bank account you want to deposit the check. Don’t deposit an amount which the account have not hold before.
✓Make sure the check is printed very clearly on a check paper.
✓Do not edit anything on the check when purchased. Just hand write account owners name or you can use pdf online editor to type the name on the check.
✓Endorse the back of the check as per bank require before making the deposit at the atm, bank or mobile deposit.
✓ATMs have a limit on check deposit. It varies form each bank. so do your research well.
✓After deposit, banks sometimes gives estimated dates for funds availability. In this case you will have to keep an eye on the account because funds can be available before the estimated dates.
✓Remember it’s a stolen money. So you should be expecting charge backs. That is why it’s advisable to cash out day 1 wen funds become available.
✓The trick, say you deposited 10k and it drops n you cash out before the charge back. The account will go negative. Then you will deposit 15k and cash the difference before charge back. So you will keep cashing out the difference till account cast.
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