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Old 02-03-2009, 06:05 PM
 
2,764 posts, read 2,388,762 times
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Quote:
Originally Posted by NewJersey? View Post
Wow, so many points I want to quote. Thanks for the replies! Seems like I CAN deposit the check without her signature.

Yes, "deposit". I'm sorry I used "Cash" in the title. I did explain it further in the posts. I'm just depositing the check every two weeks when it is mailed to our house. My wife is at work, I go to the bank, make the deposit, and that's it. I never wanted to sign 'her' name. I just wanted authorization to deposit checks.

Let's see if I got this right. "For deposit only" on the back of the check AND my signature AND the checking account number? Is that it? Is that the law or something, or is it what "most banks do"?

I wonder why the teller had no answers for me when I asked "Is there ANYTHING my wife and I can do, sign, fill out, that will allow me to do this?". She could have said "for deposit only..." Oh well... Thanks for all the help.
Unless the check is made out to you I don't see any reason why you'd have to sign it. Just write or stamp deposit only on the back of the check and deposit it in an account that has your wife's name on it. And yes, you can put the account number on the back too.
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Old 02-03-2009, 06:11 PM
 
617 posts, read 2,213,335 times
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Quote:
Originally Posted by trishguard View Post
Unless the check is made out to you I don't see any reason why you'd have to sign it. Just write or stamp deposit only on the back of the check and deposit it in an account that has your wife's name on it. And yes, you can put the account number on the back too.
Thank you! I will do that next time.

If I ever need cash out, I'll just write a separate check. No problem. The cash in the checking account is always more than the check amount.

Thanks for all the replies!
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Old 02-03-2009, 07:14 PM
 
Location: The Big D
14,874 posts, read 23,874,869 times
Reputation: 5787
Quote:
Originally Posted by NewJersey? View Post
I wonder why the teller had no answers for me when I asked "Is there ANYTHING my wife and I can do, sign, fill out, that will allow me to do this?". She could have said "for deposit only..." Oh well... Thanks for all the help.

Because they don't train them very well nowadays

You don't need to sign YOUR name though. Just:

For Deposit Only
Acct Number


FYI: You are REQUIRED to have the account number on the back of all checks anyway. The endorsement of "For Deposit Only" is a RESTRICTIVE ENDORSEMENT. If ALL checks being deposited have that on the endorsement NO CASH BACK can be done on THAT deposit. It is part of the UCC rules (Uniform Commercial Code).

I'd just order a rubber stamp that says:

Bob & Sally Jones
First National Bank
Acct # 1234567
For Deposit Only

Afterall, that is how just about 99.99% of ALL checks made out to a business are "endorsed" to begin with.
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Old 02-04-2009, 09:02 AM
 
2,151 posts, read 3,209,150 times
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You know, you could've just talked to a manager at the bank.
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Old 02-04-2009, 10:15 AM
 
Location: Somewhere in northern Alabama
11,748 posts, read 27,321,510 times
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momof2dfw is exactly right. With a corporation, I never sign the checks that go into the corporate account. They get the account number stamped on the back like she says, and that is it.

A JOINT account doesn't mean that BOTH parties have to sign a check on that account to make it valid, right? If a check was put in the night deposit with a deposit slip, the bank wouldn't return the check to the sender would it? The clerk who denied the deposit was an idiot, probably the next in line for the president of the bank job. If I had more than one incident like this, I'd be changing banks.
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Old 02-04-2009, 10:29 AM
 
Location: The Big D
14,874 posts, read 23,874,869 times
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Quote:
Originally Posted by harry chickpea View Post
momof2dfw is exactly right. With a corporation, I never sign the checks that go into the corporate account. They get the account number stamped on the back like she says, and that is it.

A JOINT account doesn't mean that BOTH parties have to sign a check on that account to make it valid, right? If a check was put in the night deposit with a deposit slip, the bank wouldn't return the check to the sender would it? The clerk who denied the deposit was an idiot, probably the next in line for the president of the bank job. If I had more than one incident like this, I'd be changing banks.

I've seen a lot of elderly people also use the rubber stamps for the back of their checks. When one has Parkinson's or bad arthritis it sure makes life a lot easier on them. I always recommended it for these customers as it was hard to watch them struggle to endorse their checks.

No, a JOINT account does NOT need both or more parties to sign the back of a check for deposit. I'll break down a few different things:

1. Check made out to wife for deposit: All it needs is HER endorsement OR "For Deposit Only" and the account number written on the back of it. If you deposit said check in the night drop the bank teller that does it will put the account number on it. This is a SAFE PRACTICE to do for ALL deposits in case a check gets lost somewhere.

2. Check made out to wife and husband wants to CASH it: Wife MUST have endorsed it BUT the words "For Deposit Only" can NOT be written on it. That is a RESTRICTIVE ENDORSEMENT that limits what can be done w/ that instrument.

3. Check made out to Husband AND Wife for deposit: Both can sign it OR only one can sign it. The endorsement "For Deposit Only" can be written on it along w/ the account number.

4. Check made out to Husband AND Wife for CASH: BOTH MUST endorse it and the restrictive endorsement of "For Deposit Only" can NOT be on it.

5. Insurance Draft made out to John W. Smith AND Suzy A. Smith: BOTH PARTIES MUST ENDORSE IT EXACTLY AS IT IS MADE OUT!!! John can NOT just sign, "John Smith". It MUST have the initial as well. Not having it CAN cause it to be returned and the draft not accepted. Drafts are usually only accepted for deposit only and a hold put on them until the funds cleared. The reason being is that the insurance company is making sure that ALL PARTIES are acknowledging payment and by signing the back of the check all recourse has been released. I've seen these returend PLENTY of times because it is lacking one persons endorsement or it was not endorsed properly. Sure some slip thru nowadays w/ all of the automation but they are still REQUIRED to be endorsed properly.
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Old 03-23-2010, 03:13 PM
 
2 posts, read 34,526 times
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My CORPORATION Has Both Me & The Wife Listed At The Bank. We Received A Federal Tax Refund Made Out To BOTH Of Us. We Signed the Back, And Used The Corporate Stamp - "pay To The Order Of BOA For Deposit Only Name Of Corp. And Account Number". They Returned It (Was Thru ATM), Are We Going To Be Able To Cash It?? They Stated That It Wasnt Made Out To The Company. We Have Deposited Other Checks That Were Made Out To Us As All Of Xtra $$ Goes Into Business...Why All Of A Sudden Now Its Not OK?? Hopefully Bank Manager Will Ok It?? Any Help......
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Old 03-23-2010, 03:52 PM
 
Location: Boise, ID
5,566 posts, read 10,898,943 times
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Quote:
Originally Posted by momof2dfw View Post
Of course I'd talk to your bank officer to make sure they know what is going on and they can instruct their tellers of PROPER bank regulations that a "for deposit only" endorsement IS allowed and LEGAL on all checks to be deposited. UNLESS it is a "bank draft" and THEN it would REQUIRE every single person signature that it is made out to. Most likely her payroll check is not such. These are usually going to be insurance checks for claims.
Or tax refunds. I went to deposit a tax refund in my husband and my joint account and they would not let me even do the deposit without his endorsement as well as mine.

Quote:
Originally Posted by momof2dfw View Post

FYI: You are REQUIRED to have the account number on the back of all checks anyway.
Interesting, we deposit about 100 or so checks a month, made out to all different parties (property management, plus real estate & construction) and probably 20 of them every month don't have an account number on them, since I don't endorse them, since they are going into "other peoples" personal accounts, and none of the tellers at the bank has ever said a word about having to have account numbers on the backs of the checks. They just put their little stamp on it and keep going.

Quote:
Originally Posted by biglifeelectronics View Post
My CORPORATION Has Both Me & The Wife Listed At The Bank. We Received A Federal Tax Refund Made Out To BOTH Of Us. We Signed the Back, And Used The Corporate Stamp - "pay To The Order Of BOA For Deposit Only Name Of Corp. And Account Number". They Returned It (Was Thru ATM), Are We Going To Be Able To Cash It?? They Stated That It Wasnt Made Out To The Company. We Have Deposited Other Checks That Were Made Out To Us As All Of Xtra $$ Goes Into Business...Why All Of A Sudden Now Its Not OK?? Hopefully Bank Manager Will Ok It?? Any Help......
It is because it is a Tax Refund check. It probably says somewhere on it that it must be endorsed EXACTLY as the check was made out. My question is why are you getting a tax refund to you personally on a tax refund for a Corporation. If it truly is a Corporation, the check should have been sent made out to that corporation. You may or may not be able to do anything with it. You may have to contact the IRS and deal with getting them that check back and getting a replacement check.
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Old 03-23-2010, 06:01 PM
 
Location: Oakland CA
7,604 posts, read 10,628,219 times
Reputation: 8353
Quote:
Originally Posted by biglifeelectronics View Post
My CORPORATION Has Both Me & The Wife Listed At The Bank. We Received A Federal Tax Refund Made Out To BOTH Of Us. We Signed the Back, And Used The Corporate Stamp - "pay To The Order Of BOA For Deposit Only Name Of Corp. And Account Number". They Returned It (Was Thru ATM), Are We Going To Be Able To Cash It?? They Stated That It Wasnt Made Out To The Company. We Have Deposited Other Checks That Were Made Out To Us As All Of Xtra $$ Goes Into Business...Why All Of A Sudden Now Its Not OK?? Hopefully Bank Manager Will Ok It?? Any Help......
They probably thought you made a mistake and they were trying to save you a hassle -- a corporate account isn't a personal bank account. A tax refund is a personal check -- not tied to a business transaction.

I know at least on my business account all the money that goes into it is accountable on my taxes as income... and our tax refund (should we get one) goes into our personal account.

If you really want it in your corporate bank account, take it in and present it for deposit. If the teller needs to take it up the line for approval, you'll be there to explain why you want to do this, and they will tell you if they can or not....
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Old 03-23-2010, 08:51 PM
 
43,177 posts, read 47,049,205 times
Reputation: 13673
Forgery really only comes up when the person whose signature is on the back says he/she did not sign it . Otherwise nothing comes up with it actually as a criminal charge.
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