Checks are cash based on _____?
Checks are cash based on the written amount NOT the numerical amount
What should look for in the back of the check?
Endorsement or stamp
what is a stale dated check?
Check over 180 days (6 months), it can vary depending on the type of check
Should you accept a stale dated check?
No, unless it has a different validity period. EX: 1 year
What is a post-dated check?
A check with a future day
What must you verify before cashing any checks?
The account balance
What is required to cash all checks and process withdrawals?
Proper identification, and signature matching
How can you verify if the signature matches?
By checking the signature card
(To check signature card: enter account # and on the left panel find “Document/image” press select to view)
When doing a deposit what should you never do?
NEVER CASH a check made payable to a BUSINESS NAME or Allow CASH BACK on a business deposit (However the business owner may process a withdrawal)
What are some types of checks we have?
Transit check, foreign check, on-us check, cashier check
What is a transit check?
A transit check is non-FVC bank check (All foreign checks are transit checks)
What is an on-us check?
On us check is FCV bank check
*You can only accept on-us cashier checks
What should you check for when receiving a check?
***Always check DAMP
D: date
A: Amount (Legal amount is the written amount)
M: maker (check that the name and signatures match)
P: payer
Which goes first, the check or the deposit slip?
Deposit slip
