Cash is the most common form of payment in the world. It’s easy to do and can help you get you to make your purchases on the net payment. However, digital ways of payment surpass cash handling. But checks are used widely.
Working around the age of making yourself independent and self-sustainable is a good habit. As a teenager, when you are working and get your first paycheck, it is a moment of joy. But this joy comes with the question of how to cash teenagers first paycheck as you don’t have a physical ID as you are under 18. So how can you tackle this situation? So keep on reading this article will guide you to get through it.
Different ways to cash a teenagers paycheck
There are different ways to cash a teenager’s paycheck. It depends on your preference and conditions. So we will discuss each that may help you out.
How to cash teenagers paychecks by using a checking account
When you have received the check, you can go to the bank where you already have a teenage checking account. Then go to the representative of the bank and follow the steps:
- Ask for the charges of cashing if there are any.
- Endorse the check on the backside. (i.e., sign the check)
- Fill out the payment slip if they ask to and sign it.
- Take your cash, and you are good to go.
Sometimes the banks don’t have enough cash at that moment. They give you a down payment of the check. For example, for a check of $1000, they will give you around $200, and the rest will be deposited into your bank account. To deposit the check in your account, you must consider that it may take two or three days. Then you can withdraw the cash by using your debit card.
Cash A Teenagers Paycheck Without A Bank Account From The Issuing Bank
You can also cash your paycheck from the issuing bank if you don’t have a bank account. But they may charge you a fee if you don’t hold a checking account in their bank. It will be some percentage of the check amount. But they may ask for verification from the writing authority of the check.
You will receive the payment either in cash or deposited into your account. Depending on the bank service quality, this may take 2-3 business days. You have to go to the writer’s bank and follow the steps:
- Endorse the check with your signature on the backside.
- Present your check before the cashier.
- After verification, he will cash your check.
It is beneficial to go to the check writer’s bank. Because they have access to the questioning amount from the writer’s check and will provide you with the total amount immediately.
Endorsing it to someone other
When you are a teenager, you don’t possess a proper ID as you are under 18. It can be frustrating when you want to cash your paycheck. You can endorse it to someone else to cash, as the person you are endorsing must possess a valid ID. They can be your parents or a trustworthy person. While endorsing the check to a third party, don’t forget to mention the minor on the backside of the check.
Using a joint account
You can ask a person with a valid ID, unless he is your other member in a joint checking account, for you to cash your paycheck and save you from this condition.
How To Cash Your Paycheck When You Are In A Hurry?
Sometimes when you are in a hurry and need the check to be cashed instantly, you can use the following methods when you need to cash a check.
Cash it from a retailer
You can always cash your check from several retailers or grocery stores and charge a small fee. They usually charge less than the writer’s bank. You can either purchase the amount of the check or get the cash instantly. Some retailers may ask for your Photo ID copy or any identification documents.
So always accompany an older person with a valid ID to cash a paycheck. Moreover, some retailers won’t cash it unless you are their premium member. One safety measure that should be followed while cashing a check is always don’t sign the back of the check unless you need to cash the check.
Using Elders Favor Or Directly Deposit In Their Account
You can ask your elders, guardians, uncle, or aunt for this favor. You can ask your elders to keep the check, and he will give you the cash for the written amount. It is the best way to cash the check if you are in a hurry.
Safety Measures while cashing a check
There are specific safety measures you must take while cashing a check. It will not only promise smoother service but will also save you from many problems.
- Always verify the person/organization that wrote you the check.
- Check the address and last and first name of the person/ Organization.
- Always ask for cash if you haven’t met the person or encountered the organization.
- Ask for the contact information of the writer in case you have to reach them.
- The check is made through a legitimate bank.
- Check if sufficient funds are in the check writer’s account, which covers your amount.
- Check for the credentials of the check. It is necessary that your name is written correctly on the check and it matches your name on your Valid PHOTO ID. Bank won’t cash the check if your name is written according to your identification document.
- Always look for endorsement details. Check the date and amount and verify if they are written correctly.
- Check for the owner of the account signature. Without the owner’s signature, you won’t be able to cash the check.
- Endorse and sign the backside of the check before you cash it.
- If the check is written in the payee of more than one. All payees have to endorse and sign the backside of the check.
- But if they manage a single joint account, only one can cash the check by signing it individually.
- Try to cash the check on the date it is given to you. Some checks have validity dates. After those dates, you won’t be able to cash the check.
We hope this article has greatly helped you cash a teenager’s paycheck. If you have any questions, please let us know in the comments.
Afza Ahmad is a freelance writer specializing in finance and banking. With an in-depth knowledge of the industry, she has written extensively on topics ranging from stock market trends to international banking regulations.