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Definition of Thrid Party Check please.
AthlonInside




msg:317596
 7:07 am on Jun 9, 2005 (gmt 0)

Why is a 3rd party check?

If a check is payable to me from my boss, is it a 3rd party check?

 

grandpa




msg:317597
 7:33 am on Jun 9, 2005 (gmt 0)

If you're trying to cash it at the corner grocery store, then yes it's a 3rd party check (from their perspective). Taking the same check to the bank it was issued on removes the 3rd party (grocery store). Your own bank should accept it too (not as 3rd party).

That's my understanding. Of course, this comes from someone without a bank account or even any money :)

AthlonInside




msg:317598
 7:38 am on Jun 9, 2005 (gmt 0)

So If I got a check payable to my name from my BOSS and I bank it into my own account (under my name), that's not a 3rd party check right?

grandpa




msg:317599
 7:41 am on Jun 9, 2005 (gmt 0)

I wouldn't think so. When I was a regular working stiff on a 9 to 5 schedule, that's how we handled it every other week.

tbear




msg:317600
 8:38 pm on Jun 9, 2005 (gmt 0)

If your boss paid you with a check from someone else (the third man, LOL), not related to your deal with the boss, it would be a third party check (or cheque).

imstillatwork




msg:317601
 4:08 pm on Jun 10, 2005 (gmt 0)

A three party check is a check written by person A, to Person B, and given to person C as payment.

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