No matter if you are a business owner or an employee, if you have a post-dated cheque, you can immediately cash out your cheque to get cash. In the term of the lending period, the lender offers cash in exchange for cheque that are not due. When the cheque is due, the lender banks in the cheque into the bank.
Process of Cheque Cashing
a) Business Owner
For a business owner, you may receive post-dated cheque from your vendors. One of the way is to ask the vendor to write the cheque in the name of our lender. We also have to evaluate the cheque issuer’s background. We will also need to assess the background of the cheque issuer. Eventually, unless the cheque bounced, we may need the borrower to formally sign some agreements to agree to reimburse the lender. Once all these have been done, the borrower receives the money immediately after the processing payment has been withdrawn and the interest on this financing.
b) Salaried Employee
Whilst for a worker, you will receive post-dated cheque from your employer, as payments for his or her salary. Because of logistical downside, the employer might not be convenient to issue cheque at month finish, thus supplying post-dated cheque. During this case, the worker can even request the employer to jot down the cheque in our cash lender’s name. Next, we are going to verify that the cheque is from your employer, and past pay slip or bank statements to validate your regular payment. Lastly, the receiver can have to sign some agreements to reimburse the loaner ought to the cheque bounced. In the end this, the receiver will get the money straightaway.
If you have any financial problems, we are always here to help you or give you professional consultations to overcome your difficulties. Please do contact us in order to solve your problems right away. We cover Ang Mo Kio, Batok, Clementi, Tampines, Yishun, Pasir Ris, Chu Kang, Serangoon, Jurong, Woodlands, Sengkang, Kranji, Orchard and Hougang.