As a form of payment between modern enterprises, check has the function of money, but it simplifies the transaction process and makes the transaction between enterprises more convenient and faster.
There are three kinds of cheque cashing:
1. Cash check cashing: it can only be used to withdraw cash;
2. Cash transfer check: it can only be used for transfer;
3. Cash an ordinary check: it can be used to withdraw cash or transfer money.
The bearer presents the check directly to the paying bank: that is, after getting the transfer check, you have to present the check to the payer. Once the cheque is presented, the payer will pay the amount recorded in the cheque to the holder from the drawer's account of the cheque presented.
Checks are transferred by the company's own agent bank: that is, the transferred checks are entrusted to the company's agent bank for exchange and cash, and the bank takes the checks to the clearing house for exchange, which is handled by the bank. At this time, if the drawer balance of the paying bank is insufficient, this check will become a non-payment check and will be returned to a non-payment bill.
Cheque cashing is a bill that banks or other financial institutions entrusted with deposit business unconditionally pay a certain amount to the payee or holder at sight. So you just need to bring a check to cash it. A check can't be tainted by alteration.