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Can a cheque be endorsed by benefishree further to anyone if it is crossed as Payees Account only?
Zubiheart
The basic idea of crossing a cheque is to bring the Banking function in, ensuring that the money reaches the payee, or in the event of a miscarriage or fraud is tracable, and when endorsed also this feature is intact, as the final recipient and the veracity of the endorsement have gone through the banking process, since the instruments status as "Account Payee" cannot be altered except by the original drawee.
But leaving the original payee out of the loop helps him fudge his tax returns, and therefore not desirable
Wiki User
∙ 14y ago
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Can a crossed cheque be endorsed?
"Account Payee" Cheque cannot be endorsed. only payee of the cheque is entitled to get credit of the amount i.e., the amount will be credited to his account only. However if it is "Not Negotiable" crossing it does not mean that the cheque can not be transferred further it can still endorsed but the transferee will not get better title than the transferor.
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