Encash
/ɪnˈkæʃ/
Definition 1 of 1
Pro Tip 1/3Financial Context
Encash is often used in banking or financial environments when referring to liquidating assets or instruments. 
After winning the lottery, she went to encash her winning check.
Pro Tip 2/3Immediate Availability
Using 'encash' implies the need or desire to have the money available for use immediately. 
They needed to encash the travelers' checks to pay for the hotel.
Pro Tip 3/3Not for Deposits
Encash specifically means to turn into cash, not just to deposit in a bank account. 
I don't just want to deposit my bonus check; I want to encash it and celebrate.