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Who has the liability of endorsement on a deposited check?
The payee, who is the person the check is written to. If they don't sign the back of the check before they deposit it, then the bank the check is drawn on (where the person who wrote the check banks at) can return the check for up to 7 years after it is deposited into the payees account. If that happens, then the bank where the payee banks at (where the check was deposited) will usually debit your account for the amount of the check. Also, if a check is made out to more than one person and includes the word "and" between the persons names, then both must sign or it must be deposited into an account owned by all payees listed on the check and stamped by the bank. If the word "or" is between the names, then only one payee need sign it. If it is made payable to a business or trust, then it must go into a business or trust account. It cannot go into the personal account of the business owner or of a trustee.
Can you cash a check made out to two payees?
You can cash a check made out to two payees if you are one of the payees and the other has signed the check. You can also cash it if both payees have signed it over to you.
An account owner must do this in order to approve a check to be deposited into their account?
If you have a bank account and are trying to deposit a check, you will have to sign the back of that check. If the back is not signed, it cannot be deposited or cashed.
Can a check be deposited in a dormant account?
Yes
What does returned deposited item mean?
A bounced check. Probably a check that you deposited into your account was no good so the bank returned it and deducted the money from your account.
How can you make sure your check was deposited into your account?
yes
What must an account owner do in order to approve a check to be deposited into their account?
endorse
Can a check made out to a husband and wife be deposited only to the husband's bank account?
It can be deposited anywhere.
Can you deposit a business check to your personal account?
No, you cannot deposit a business check into a personal checking account. You can only deposit a check into an account that shares the same name, i.e. A check is made out to ABC company--it can only be deposited into an account that is titled ABC company. It cannot be deposited into a personal account--even if that is the personal account of the owner.
A check is made payable to two people do both parties have to be on the checking account in which the check is deposited?
No
What is a check stamp used for?
A check stamp is used for endorsing checks. They are usually for businesses and will have the information of the account it will be deposited into, such as account number and name or business on the account.
Can you have my tax check deposited in my dad account?
It Depends:Yes you can - If you are a joint holder of your dads accountNo you cannot - If your dad is the only holder of his accountThis is because, a check can be deposited only into the account that is fully or jointly held by the person to whom the check is issued.
