I was having a coffee today outside and across the road there was one of these places. "Cheque Centre" it was called.
They had a big ad in the window saying "No bank account? or why wait 5 days and beat your bank? no problem. We cash all cheques, wage cheques etc.... all cheques considered. Get your money today!!! etc..."
Now as I'm a curious git and the question I have is how does this work?
If for arguments sake I had a cheque made out to Mr Greedo from some company and took it in how can they leagally cash it? If I had a cheque made out to Mr Smith I'm pretty sure if I went into my bank I couldn't try and cash it in my Mr Greedo bank account so how can they get the cash from a cheque made out in someone elses name????
I'm puzzled
They had a big ad in the window saying "No bank account? or why wait 5 days and beat your bank? no problem. We cash all cheques, wage cheques etc.... all cheques considered. Get your money today!!! etc..."
Now as I'm a curious git and the question I have is how does this work?
If for arguments sake I had a cheque made out to Mr Greedo from some company and took it in how can they leagally cash it? If I had a cheque made out to Mr Smith I'm pretty sure if I went into my bank I couldn't try and cash it in my Mr Greedo bank account so how can they get the cash from a cheque made out in someone elses name????
I'm puzzled