How Does a Fast Check Work?
For people who use online banking to send and receive money, a “fast check” is a great way to expedite the process of receiving funds. What a fast check is in terms of time, is basically a draft of a loan agreement that can be sent out within a matter of hours to the bank where the loan is being processed. This means that instead of waiting up to thirty days to get your loan approved, you can have the money in your checking account tomorrow. This is perfect for people who need money urgently, but don’t want to wait the full period of thirty days for traditional lending institutions.
To send a fast check, first you will need to find a bank that offers this service. Most banks offer it through their Internet banking system. Next, you will need to create a draft for your loan. Using a standard checkbook is usually the best option because it is still easy to write a quick check, although some establishments will accept post-dated checks as well. Your bank may require a voided check or a post-dated check before they are able to process your fast check.
Once you have prepared your loan you will be able to go into the following day’s financial institution. When you arrive there, be sure to provide the exact amount of the check you wish to cash. It is very likely that the employee at the counter will ask if it is a bank draft or a debit card check. If you have a debit card, then simply swiping the card will allow you to electronically withdraw the money from your checking account. If you have a bank draft, you will need to write the check to the correct company, which is usually a separate branch of your bank. Finally, the transaction will be completed and the check will be cashed at the appropriate location.