Can you deposit someone else’s check in your account?
To deposit a check made out to someone else in your own bank account you have to...
It is often called a third-party cheque.
To do this payee should endorse the check over to you.
They will need to write “Pay to” and your name on the back of the check and sign it.
There is no legal requirement that the bank accept such checks.
So, the bank may refuse to accept the check or may put a hold on it until the transaction clears from the other bank.
Some banks will accept such a check only if the payee is present when it is deposited, so they can verify their ID.
Mobile Check Deposit in this case will most probably not work.
Видео Can you deposit someone else’s check in your account? канала Slava - Money
It is often called a third-party cheque.
To do this payee should endorse the check over to you.
They will need to write “Pay to” and your name on the back of the check and sign it.
There is no legal requirement that the bank accept such checks.
So, the bank may refuse to accept the check or may put a hold on it until the transaction clears from the other bank.
Some banks will accept such a check only if the payee is present when it is deposited, so they can verify their ID.
Mobile Check Deposit in this case will most probably not work.
Видео Can you deposit someone else’s check in your account? канала Slava - Money
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