Where to Cash a Business Check
To cash a business check, you have several places to consider. These include your bank, the issuing bank, a retailer with check-cashing services, or a check-cashing store. If your bank agrees to cash it, you won’t likely pay a fee. Here are the steps to cash a business check.
- Firstly, decide where to cash it.
- If it’s made out to you, just sign it.
- You’ll need to show a photo ID.
- If your bank refuses to cash it for some reason, you can deposit it.
- You might need a business bank account if the check is to your business.
- Without one, cashing may get tough.
Depositing LLC Checks
Can I deposit an LLC check into my personal account?
You should not deposit business checks into your personal account. It could look like you’re using business money for yourself, or it might lead to an IRS check. Keeping business and personal funds apart is wise. To move business money to your personal funds:
- Deposit the business check into its account.
- Then, write a check to yourself from this account.
Why You Might Be Unable to Cash a Business Check
Why can’t I cash a business check?
Cashing a business check requires a business account and proper state registration. Banks may need notice for large checks and can refuse stale-dated ones. Without an account at the bank or proper ID, a bank might not cash it. Large transactions may need a heads-up to the bank. Some checks become void after a certain time, making them hard to cash. Banks protect against fraud and might follow the check writer’s instructions against cashing.