How to Withdraw Cash from Someone Else's Cheque: Requirements Explained
Learn what you need to withdraw cash from another person's cheque, including authorization and bank policies.
660 views
Withdrawing cash from another person's cheque typically requires you to be listed as a joint account holder or have a granted authority, like a power of attorney. Without proper authorization, banks will not permit you to cash out a cheque made out to someone else. Always check with the issuing bank for their specific policies and required documentation.
FAQs & Answers
- Can I cash a cheque made out to someone else? Generally, you cannot cash a cheque made out to someone else unless you are a joint account holder or have explicit permission, such as a power of attorney.
- What documentation do I need to cash someone else's cheque? You typically need to show identification and may require additional documents like a power of attorney or written permission from the cheque's issuer.
- Are there any banks that allow cashing third-party cheques? Some banks may allow cashing third-party cheques, but this varies by institution. Always check with the specific bank for their policies.
- What should I do if I need to cash a cheque made out to a friend? Your friend should either endorse the cheque to you by signing it on the back or cash it themselves and hand you the cash if allowed by the bank.