Summary
The user asked about the legalities of check receipts and their conversion into cash. The user was informed that in Michigan, a check is considered cashed when its negotiated by the payee, not when a receipt is issued. The color of the dollar amount and the payment reference ID on the receipt do not have legal significance. It was clarified that a receipt is not a form of currency, but a proof of a transaction. The user was advised to contact the third party, Online Check Writers, for further clarification.Full Conversation
When is a receipt considered cash, and how can you collect from it? Are there any particular colors for the amount numbers that represent cash (i.e. green, black, red etc?
Are you referring to a specific type of receipt, like a promissory note or a check?
From a check.
What is the specific issue you're facing with the check? Are you unable to cash it or is there a dispute about its value?
The check was deposited through a third party collecting payments and they sent me a receipt, but the check wasn't directed to be deposited into the linked bank account with the third party. So I'm wondering if the receipt is made out to cash?
Did the third party provide any explanation or reason for not depositing the check into the linked bank account?
Customarily, the account holder is responsible for that, but there's no ach connected to do this.
What is the name of the third party collecting payments? In Michigan, the Uniform Commercial Code governs checks and their negotiation.
Online check writers
What is the exact wording on the receipt you received from Online Check Writers? In Michigan, a check is considered cashed when it's negotiated by the payee.
It has the date, payment ref. id amount in red and a memo
What does the memo on the receipt say? In Michigan, a check is considered cashed when it's negotiated by the payee, not when a receipt is issued.
From the source of the payor
Explanation: The memo doesn't typically determine if a check is cashed. It's the negotiation of the check that matters. If there's a dispute, you may need legal assistance.
What about the payment ref. I'd?
The payment reference ID is typically used to track transactions. It doesn't determine if a check is cashed. In Michigan, negotiation of the check is key.
The dollar amount in red, means what?
The color of the dollar amount doesn't typically have legal significance. It could be a company-specific notation. You may want to contact Online Check Writers for clarification.
Ok, thanks! Now, if the receipt is cash, how can I actual use it for transactions?
Are you asking how to use the receipt as proof of payment or are you trying to convert the receipt into cash?
Convert to cash for individual transactions?
Are you asking if you can use the receipt as a form of currency or are you trying to get the money that the receipt represents?
Form of currency.
In general, a receipt is not considered a form of currency. It's a proof of a transaction, not a negotiable instrument like a check or cash.
Ok thanks! So, the only option would be, as far as purchases, would be to collect the full amount from the receipt by submitting it to a bank or a cash advance location?
No, a receipt cannot be converted into cash or used as currency. It's merely a proof of a transaction. You should contact Online Check Writers for further clarification.
Thanks!
You're welcome, ****! If you have any more questions in the future, feel free to ask.
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