When you receive a check, there are two ways to get the money. You can either cash the check or deposit it. In the process, nanaisin mong makatipid sa pagbabayad ng fees at iwasang magkamali.
Ano ang pagkakaiba ng pag deposit or pag encash ng cheke? Pag nag encash ka ng cheke, makukuha mo ang pera in cash. Pag nag deposito ka naman, made-deposit ito sa bank account mo na maaari mong ma-withdraw anytime.
Ang pinakamadaling paraan eh ang pagpunta sa banko kung saan nakalagay ang bank account mo.
“Ayaw ng banko tanggapin ang checke ko!” Bakit? These are the reasons why the bank may refuse to process your check.
(1) Mali ang pangalan ng Payee. Make sure na ang pangalan ng payee sa check na idedeposit mo ay pareho sa pangalan ng bank account mo. Wrong spelling is WRONG. Hindi idedeposit ng banko ang check mo if hindi mo kapangalan kasi baka hindi ikaw yan. Nagiingat lang naman din ang banko.
(2) Post-dated Check. Make sure na dated today or past date ang check mo. Hindi idedeposit ng bank ang checke pag future date or post-dated ang check.
(3) WRONG SPELLING IS WRONG. Mapa name, date, number, amount in words, kailangan right spelling. Kaya bago tanggapin ang check, make sure na tama lahat ng details kasi hassle pumunta sa banko at wala ring mangyari.
(4) Stale na ang check mo. Ano ang ibig sabihin ng “stale”? Under the Philippine law, a check is considered stale ang date ng check mo ay lampas na ng 180 days or six months from the date of the check (Section 186 of the Negotiable Instruments Law). Kaya pag nakuha ang cheke, huwag na patagalin at ideposit na yan agad.
(5) May Erasures. Bawal ang erasures. Hindi na tumatanggap ang banko ng may counter-signature ngayon. Kung may malii sa pagsulat, kailangan new issuance ng check na lang.
(6) Kulang or Mali ang signature. Ito mahirap malaman. Kasi hindi naman natin usually alam sino ang authorized signatory ng mga checkeng natatanggap natin. So if the bank refuses your check due to issues on the signatures, please contact the person or company who issued you the check so they can replace it for you.
Don’t forget to get your deposit slip and have the bank update your passbook to make sure that the deposit is reflected. May pera ka na!
Ngayon, paano naman if you want to Encash your check instead?
(1) Go to the bank of the issuer. Kahit saan basta same bank ng check. Kung BDO ang check, sa BDO pumunta.
(2) Ask the bank tungkol sa fees at pinaka affordable options para makuha mo ang pera mo. There are banks that charge fees for depositing or encashing a check with them especially if from different regions. For example, if the check is from a Makati bank account and is to be deposited or encashed in Cavite, BDO charges a fee.
(3) Make sure na walang 2 parallel lines sa upper left side of the check. If meron, it means you cannot encash. You can only deposit it to your account if may bank account ka sa bank na pinuntahan mo. If wala, you may encash.
(4) Bring a valid ID. Kailangan pareho ang pangalan ng payee name sa valid ID mo. If not, you cannot encash the check.
(5) Bilangan ng maiigi ang cash na nakuha. Baka kulang yan. Kung sobra, well honesty system na lang siguro.
Again, please remember to get your deposit slip.
Dealing with physical checks today is difficult because of the pandemic. Maraming ayaw lumabas ng bahay dahil mejo malayo ang banko. At nakakatamad din. Restricted ang mga galaw natin at may mga safety protocols na kailangan sundin. If you’re familiar with using a mobile app, there are Banks now that have Online Check Deposits feature like Unionbank or ING bank. Ito yung feature na you can deposit your check by simply taking a photo of it from a mobile app. Feel free to ask your bank or search on Google kung meron ng ganitong features ang bank mo. Winner toh!
Tips:
(1) Sa mga magbabayad sa amin ng monthly amortizations nila, ang spelling ng payee name namin ay LLOYD’S FINANCING CORP. Madalas nagkakamali ang mga clients sa spelling at naisusulat nila ay “LLYODS”. Nababaligtad nila ang “O” at ang “Y”.
(2) Remember to bring your valid ID, facemask and full faceshield before leaving your house.
(3) Remember to get your deposit slip or any proof of transaction with any bank.
(4) Always have the bank update your passbook after any transaction with any bank.
So nakadeposit ka na ng check sa bank account mo. May laman na! Pero maiwithdraw mo ba? Alamin sa next episode ng aming Checking Account 101 Series: Bouncing Checks.
Speaking of which, do you know that having a checking account will increase your odds of being approved for a loan? Checking accounts are very convenient. Follow our Checking Account 101 Series to learn more.
Wait, there’s more! Apply to our loans by presenting a checking account and get 0.88% Christmas low interest rate! Message Us Now!Again, salamat sa pagtangkilik sa aming Checking Account 101 Series! Kung hindi kapa naka subaybay, just scroll down below.
