Cheue cashing companies.

[gardener2]

There are many cheque cashing companies who will advance cash against third party cheques. How is any company able to pay into their bank a cheque made payable to someone else?

[Ethel]

Q2 What are Third Party Cheques ?

This is a cheque payable to the customer (in their name) and presented for payment through a cheque casher or third party. Cheque cashers , who may be franchisees or agents of another company, are granted by their bankers a facility to process such cheques

A good an explanation as any. The individual has to provide proof of id and sign a legal document 'assigning' the cheque to the company.