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Third-party checks are checks transferred to a third party from the original payee. They can be a convenient way to transfer funds directly, instead of first depositing them into your bank account. The most important part of third-party checks is the endorsement.
Checks drawn against 401Ks, brokerage accounts, mutual funds and credit union share drafts are considered third-party checks. Here’s what you need to know.
Whether it’s to repay someone or to access cash without a bank account, third-party checks may be an option. Read on to learn how third-party checks work, check cashing requirements, and where and how to endorse and cash a third-party check.
Have you got a third-party check but don't know where to cash it? We have listed the banks that accept third-party checks.
A third-party check is a two-party check signed over or endorsed to a third person. Normally, a check involves two parties: the payer, who signs the check, and the payee, who receives it. The payee can then deposit or cash the check.
See the places that offer third-party check cashing services -- plus those that don't. Find answers about Walmart and elsewhere.
One of your options is to sign the check over to someone else. Because the check is currently payable to you, you’ll need to ensure that the third party and their bank can accept a signed-over check, also known as a “third-party check,” and endorse the check by signing the back of it.
How To Sign Over a Check: The Bottom Line. Although it's not a very common occurrence, it is possible to endorse a check to someone else. Just make sure that you understand the steps necessary for signing over a third-party check — and ensure that the new recipient's bank will accept the check.
A third-party check is a check that is endorsed over to a person or entity that is not the original payee. In other words, the check is signed over by the person or entity that was originally paid, to a third party who will then receive the funds.
This is what third party checking is: when person A writes a check made out to person B, but person C cashes that check. Third party checking is possible because person B can write instructions on the check, changing the party that the check is made out to to be person C.