Yes, but conditions must be met. The person has to endorse the check and you may have to have the funds of your own in the account to cover the check in case it is NSF.You may have to wait to use the funds until the check clears the bank it was issued from.
Yes, especially if you have formal permission to do so. It is usually a social norm to deposit checks into either your own account or into the account of an immediate family member, but you may deposit a check into any valid account.
Yes. The person making the deposit does not have to be legally on the account, and the name on the check does not have to be the name of the person who's account it's going into. As long as the person who the check is written out to has signed the back and is present for the deposit they may do so. If i receive a check but owe my sister money I have the opportunity to deposit it into her account. It is highly encouraged that in those situations I would sign the check over to her by signing the back, and writing "pay to the order of.." including my sisters full name, then she would sign below.
It is very important that the person whose check it is specifies that they want to deposit into a specific account other than their own.
No... It has to say your name on it. If you try it, it will be termed as Forgery and you can be legally charged for doing so.
On the other hand, if you sign your name (if you are trying to deposit the check into your own account) under the signed name of the person whose name is on the check, then you can deposit the check into your account. It will be as if the check was made out to you.
Yes, it is called "forgery" and could also be theft, fraud and embezzlement.
Yes. As long as the check is endorsed (signed on back) you can deposit a check in an account you do not own. However, cash withdrawal is not allowed.
That is up to each banking institution, but most will.
There is nothing illegal about it. Note that your funds may not be available for a while until the other persons check clears.
no, because that would be bad.
Checking
A check is a demand. It is an order to pay someone form your checking account. A checking account is a demand deposit.
To clarify, I owe money at US Bank for a defaulted credit card with them. I have a TCF checking account. If I try to deposit a check made payable to me, and that check happens to be a US Bank check, can US Bank seize the check made payable to me even if I deposit it into my TCF checking account? Not sure if they will see that US Bank funds are made payable to me from someone else's account. Any insight would help! Thanks!
No
Yes, it is possible for someone to be added to a checking account as a deposit-only signatory, meaning they can only make deposits into the account but cannot write checks or make withdrawals. This arrangement is often used when someone needs to provide funds to an account but does not need or want access to the funds for spending or withdrawals.
An endorsed check is a check that was written to someone without a checking account, or someone who could not deposit the check, that has been signed by that person so that someone else can deposit it for them.
Endorse, or sign, the check on the back. Put your account number on there and write For Deposit Only.
My current bank checking account is invalid. How do I change the account number to the new checking 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.
I think it is US $ 500 for a simple checking account. The bank would give you an ATM card and a check book for this account. However if you arrange to have a Direct Deposit (Your Monthly Salary/paycheck) into this account Bank of America waives this minimum balance requirement and you can have it as a Zero-Balance checking account.
You can deposit someone else's check in your account if they sign it over to you. They need to endorse it over to the person they wish to have it and sign underneath.
You can deposit someone else's check in your account if they sign it over to you. They need to endorse it over to the person they wish to have it and sign underneath.
Each bank has different policies, so to find out the best answer, you should check with the bank where you are attempting to deposit the check.If they will allow you to deposit your paycheck into someone else's checking account, they will likely request that:- Both you and the account holder sign the check, in the presence of the teller- For you, the person to whom the paycheck is payable, to present unexpired, valid photo ID confirming that you are the person who you say you areAlternatives- The obvious: get your own bank account and deposit your check there.- Cash your paycheck, which can be done at the bank on which the check is drawn, at a check cashing service such as Amscot, or at certain banks or grocery stores that offer check cashing services.