is it illegal to issue a guaranteed cheque to myself and pay it in another account?
829493
Hello,\n\nTechnically you've just got yourself into one deep hole. You will be paying interest on your overdraft, so to use cheques to put money if a different account was a really bad decision; as the amount of interest you receive for the money being in the basic account will be lower than the overdraft interest rate (almost guaranteed).\n\nIf the financial provider has realised you own both accounts, they may be taking the money you have in your basic account to pay your overdraft. An overdraft is a feature which can be pulled whenever the provider wants too, and you have to pay the balance when they do this.\n\nYou need to contact your bank and find out whats going on, then you need to clear your debt, then you need to start saving for an emergency fund; just in-case you lose a job in the future. (Recommended: 3 months salary into a savings account).\n\nAn overdraft is a useful tool, if its kept in good standing; you have abused it so you will struggle to get borrowing products in the future... Unexpected events happen, some good and some bad; and you really need money to help keep your mandatory expenses paid.\n\nTechnically what you have done isn't illegal, it's just created a big problem you didn't need.\n\nGood luck with sorting the situation and finding a new job.
1021299
cheque or money order
772798
Your question is not very explicit. Your spelling of the word "cheque" indicates that the banking system is not in the United States, but I could be mistaken. However, my familiarity is with the US banking system, although I'm by no means an expert.\n\nPlease note that when I say "you" in the following description, I'm using the generic form of "you" and I'm not referring to you specifically.\n\nIn general, you must have an account at a financial institution in order to write a check. A check is simply a transfer of funds from one financial institution to another. \n\nWhen you (payor) write a check to someone (payee), they will either deposit the check in their own account or they may cash the check. The payee's bank (or financial institution) may let the payee have the funds immediately or it may place a "hold" on the funds for a period of time. If the payee's bank, or financial institution, gives the payee immediate access to the funds, it's because the payee's bank has a reasonable expectation that the funds will be good. For example, the payee may have sufficient funds in their own account so that if the check bounces, the bank will be able to recover the funds from the payee. The payee would then try to get the money from the payor to cover the shortage. \n\nIf the payee's bank places a "hold" on the funds, that means the payee does not have immediate access to the money. The bank will wait a specific number of days (usually 4-10 days) to give the check time to complete the transfer of funds. Each bank, or financial institution, has its own policy regarding how long it will place a hold and on what types of checks it will place a hold (e.g., out of state checks).\n\nThe time allowed to complete the transfer of funds between financial institutions varies depending on a number of factors. And there may be some individual idiosyncracies with specific financial institutions. I.e., all financial institutions are not created equal when it comes to processing payments.\n\nFor example, several years ago, I ordered a wire transfer of funds. I thought a wire transfer would be virtually immediate because the payment should go through electronically. What I learned was that the wire transfer would be sent to the branch of my bank that was closest to the branch of the payee's bank, but then it would be physically sent to the payee's bank -- either by US mail or, possibly hand-carried. This was an idiosyncracy of my particular wire transfer transaction.\n\nSo when the payee deposits the check in their account, the deposit is based on trust between the bank, the payee, and the payor. The actual funds have not yet transferred into the payee's account. It can be 10 days or longer (although it may be shorter now) and a check may bounce. Also, the payor may put a stop payment on a check, which may not be communicated to the payee's bank for several days.\n\nCashier's checks are an interesting item. I used to think that a cashier's check was like cash. It turns out that they're actually more like checks. The purchaser of a cashier's check may put a stop payment on the cashier's check and it can take as long as 30-45 days before a problem shows up in the payee's bank account. And cashier's checks are commonly used to send fraudulent payments. So you have to be very careful about receiving cashier's checks.\n\nIf you write a check and don't have sufficient funds in your account, when the payee's bank submits the check for payment your bank will usually debit your account for the amount of the check. Many banks will give you grace for your first one or sometimes two bounced checks. In other words, they will pay the check to the payee's bank. The payee won't know that you had insufficient funds. However, your account will be overdrawn and you have to cover the overdrafted amount, including overdraft ch
879336
Yes. Its the promise to pay that counts not the piece of paper. The Inland Revenue famously cashed a cheque written on a dead shark.
356049
Of course you can, as long as you aren't into illegal activity, like laundering. Banks prefer you deposit the cash, they make money on it, you make money on it everybody is happy!
1177017
bearer cheque is - NEGOTIABLE.\ncrossed / accout payee cheque - NON NEGOTIABLE
619723
Nope.  They have to be sure you didnt cash it.\nYour friend really needs to pursue the issue since he wrote the check.
843692
The M/O could "bounce" because it could be fradulent. I would contact the bank regarding the check before depositing to make sure its authentic or bring it in person to your local bank and ask them to verify it.
151749
I'd say it depends on what you wrote the check for. If it was something related to a crime (paying a ticket, or something), maybe. In most cases, bouncing a check will just end up costing you money.
679578
First of all, if a cheque was issued in your name there is already a paper trail created. Whether you deposit it or cash it won't matter. A trail has been created. The only way it would have gone unnoticed is if you received cash.\n\nNext, since you are not a citizen if you leave you will probably get away without paying tax. However, depending on the bill and if you live in a country with a treaty with the country you are visiting now then there may be a way for them to obtain the money owed them. This chance is slim however.\n\nNonetheless, if you do have a bill outstanding and try to return to the country you are in now, you may get caught then and it may not simply be a case of paying your outstanding bill. You may be charged with tax evasion.
320488
I work for a major US Bank and I have 6 years of experience in Item / Check Processing, It is not illegal to use your old address as long as you keep it updated it with your financial institution. You can also place stickers with your new address on top of the old one on your checks.
748734
I know that this was the case in Canada and possibly other Commonwealth countries but I'm not sure it applied everywhere. The most official place to check would be the Bank Act (the federal legislation that sets up banking and establishes the standards that must be met).  If it is on line it will be linkable from the federal website.  Since cheques have to be MICR encoded now, the act has probably been changed but maybe not.
515227
Well I have two bank accounts, and as soon as I get my pay, I deposit 30% of my income to my other bank account and I don’t have any card or check or any mean of transaction for that account, the reason for this is that I can’t control my self If I have money in my reach, and please avoid keeping Credit card in your wallet. trust me this will work
326358
See if you can find a shop which will cash third party cheques.  I can't help more than that as I don't live in London.  Apart from that, open an account and get yourself a hole-in-the-wall card.
660426
It sounds like being paid. It's totally up to the bank. They probably thought that you had money, but forgot to transfer. In a week or so, you will receive a letter from the bank saying you need to pay them. So go ahead and transfer the money now. It's not like you wrote a bad check. They don't really hold it against you as long as you have enough money in another account.
802552
The short answer is yes.  You are changing a document after it has been signed.  Not only is it illegal, but the bank might see the alteration and refuse to pay on the check, which will be a headache for the nun who wrote the check.\n\nEither go to the hotel who's name appears on the check or get another check from the nun.
1100267
Wow this is the same question my younger brother asked me today :). well, you can sign it and if you have a bank or someone you trust has a bank accout they can cash it for you there. :)