Can I cash a check after hours

12.03.2018
Categories: All about Sparkasse, Simply more in it - Our quality, Customer feedback, Tips and tricks
Author: Quality Team

Even in a world that is becoming more and more digital, it can happen that you still want to receive and cash a crossed check. Are checks still a common method of payment?

Hello dear readers,

In the age of online banking, large ATM networks and credit cards, checks are less in use than they used to be. Personal checks have become rare, but are still issued. For what purposes? There are many reasons. Claims adjustments, refunds, or credits are the most common options. What should I do when I have the check in my hands? When can I dispose of the money? What options do I have as an online customer?

Questions like these keep coming back to us. I have put together the most important points for you.

Cashing a crossed check - that's how it works

As a customer of Sparkasse Allgäu, you can cash a crossed check in the branches of our business area. Simply fill out the check deposit form. Required information is your bank details, the submission date and your signature. Our Sparkasse employees are happy to help. The amount will then be credited to your current account; a cash payment is not possible.

 

DANGER! Cash a crossed check in a timely manner. For German checks, the deadline for submission is eight days, for European checks, 20 days; for other countries, the deadline can be up to 70 days. After the deadline, banks and savings banks are no longer obliged to redeem it - even if they can do so out of goodwill.

 

When can I dispose of my money?

Checks are credited subject to E.v. (Subject to receipt): the credit can therefore be canceled. Only when the equivalent value has been received does the bank have an obligation towards the submitter to make the check amount available. A blocking period is intended to ensure that the check equivalent can only be accessed when it is certain that the check has actually been cashed by the bank of the issuer.

The Sparkasse Allgäu has a mediocrity in use with a blocking period of five days. For "domestic checks" up to 10 days and for international checks even up to 20 days would be possible.

Conclusion: Even if the amount has already been credited to the account, it can only be used after five posting days.

Here is the explanation using a fictitious example:

  • On Monday, February 19, 2017, the customer submits a check to the branch. (= Submission)
  • Tuesday, February 20th if this is scanned and booked (=Booking day / or 1 day after submission)
  • Thursday, February 22nd will the check with Value date 22.02. credited to the account. (2 business days after the booking day) The value date - also known as the value date - defines the date from which a credit or debit becomes interest-bearing.
  • Tuesday 27.02. ends the E.v. Rating. (5 booking days)

Our branches are there for you throughout the Allgäu

For direct banks without branches, the required form must be downloaded from the Internet. The required data is entered here and sent to the bank by post. Customers of pure direct banks who only rely on mobile and online banking sometimes reach their limits when filing crossed checks. The handover of original documents and thus the cashing of checks is not possible here. Not so with the savings banks: Customers of the Sparkasse Allgäu benefit from the dense branch network in the region. The corresponding redemption form is available in our branches for all customers. That means little effort and timely completion are guaranteed.

What is your experience? Please write me a comment.

I'm glad.

Inge Schneider

Quality team

 

PS: You can find more tips and tricks from me here.

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Comments (10)

Sparkasse Allgäu - Inge Schneider
21.04.2020

Hello D. Emmer,

I advise extreme caution. Often times, with an offer like this, the check is not covered.

Check fraudsters make use of a standard bank procedure: If a seller submits a crossed check, the amount is immediately credited to his account. If the check is forged or not covered, the bank will not find out until three to five days later and will automatically post the amount back. If the seller has handed over the goods "paid for" by check during this time, he is rid of both: money and goods.

Best wishes
Inge Schneider
Quality management

D. Emmer
20.04.2020

Personal check credit and validity

For a sale made in Ebay classifieds (goods still with me) I receive a VR check (order check) for € 2600, although the goods are only € 300 including costs. I should hand over the difference in the amount to the collector (carrier) after it has been credited to my account. So far so good - or not.
Can such a check be withdrawn by the issuer after it has been credited and cashed? Does the note when booking Ev play the decisive role here?

Sparkasse Allgäu - Inge Schneider
27.12.2019

Hello mr boys,

The regulation in the Check Act Article 29 applies:

(1) A check that is payable in the country of issue must be presented for payment within eight days.
(2) A check that is payable in a country other than that of the issue must be presented within twenty days if the place of issue and place of payment are in the same continent, and within seventy days if the place of issue and place of payment are in different parts of the world.
(3) In this context, checks made out in a country of Europe and payable in a country bordering the Mediterranean, as well as checks made out in a country bordering the Mediterranean and payable in a country of Europe, count as checks that are made out and payable in the same continent .
(4) The above-mentioned periods start to run on the day specified in the check as the date of issue.

Best wishes
Inge Schneider
Quality management

Peter boys
24.12.2019

Check Act

For the periods mentioned - where are these actually regulated - all I can think of is the check law:

Art 28
(1) The check is payable on sight. Any information to the contrary is deemed not to have been written.

(2) A check presented for payment before the date of issue indicated on it is payable on the day of presentation.

If this has not been changed in the meantime, a check is always due, regardless of the date entered.

Or am I wrong?

Sparkasse Allgäu - Inge Schneider
04.10.2019

Hello Helge,

Thank you for your inquiry.

"E.v." or "Reservation of receipt" means that the check amount is credited to the account of the submitter subject to redemption.
If the check is not cashed, the credit can be canceled with reservation by remittance.

Best wishes
Inge Schneider
Quality management

Helge
02.10.2019

What does "the E.v. Evaluation" stand for?

Sparkasse Allgäu - Inge Schneider
12.10.2018

Hello Gaby,

the indication of the carrier is basically voluntary. It is important that you present the chain of endorsements, as it is technically known, i.e. the individual people who forward the check, without any gaps. To do this, please sign the back of the check. As soon as your friend wants to deposit the check on his account, he will also sign the back.

To the red border: This only applies to order checks. Here the issuer determines who is allowed to submit the check (only to the order).

Best regards and have a nice weekend.

Your Inge Schneider
Quality management

Gaby
12.10.2018

Personal check

Hello, I received a personal check on which only my name is stated, so no note on the carrier. The check does not have a red border either. If I sign this, can my friend have the V-Check credited to his account ??? Thank you very much for your answer and I send my best regards .. Gaby

Sparkasse Allgäu - Sarah Müller
22.03.2018

Hello Mr. Borchert,

The costs for submitting checks to private customers vary with us depending on the account model. In our cheapest model, the Giro Bronze, filing costs € 2.00 per check. Check submissions are included with the silver and gold checking account.

Best wishes
Sarah Muller
Social media team

Gerd Borchert
22.03.2018

Cost level?

Unfortunately, you do not write anything about the cost of the redemption