What does Cashing mean?
In the credit card industry cashing generally means converting any type of financial instrument, like a check, guarantee, draft, share, or insurance policy into cash.
On a more specialized level, cashing is a type of carding felony. It involves using a stolen credit or debit card’s information in order to directly withdraw sums of money from a credit or debit card, credit line, or bank account, belonging to a consumer that has been a victim of identity theft. This action is also called “PIN cashing”.