Check Writing & Cashing
I received a check payable to both my spouse and me. Do both of us have to endorse (sign the back of) the check?
If a check is issued to two people, such as John and Jane Doe, the bank generally can require that the check be signed by both payees before it can be cashed or deposited. If a check is issued to John or Jane Doe, […]
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My account requires two signatures to pay a check, but the bank paid the check with only one signature. What can I do?
Contact the bank directly and notify them of the situation. A checking account may be established with only one signature or with more than one signature on the signature card depending on the bank's policy. If only one […]
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My daughter endorsed her check and I tried to cash it for her, but the bank refused. Can the bank do this?
Generally, yes. This check is considered a third-party check because you are not the check's maker or the payee. A bank sets its own policy whether to accept or reject third-party checks and is not legally required to […]
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I received an insurance check made payable both to me and to the bank. Should I send it to the bank?
The check may be payable to both the policy holder (you) and the lien holder (the bank). Once you receive the check, notify your bank to determine what steps should be taken, including whether you should send the check to […]
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Writing & Cashing Checks
I wrote a check and post-dated it. However, the bank cashed it before the date written on the check. Can the bank do this?
Yes. Banks are permitted to pay checks even though payment occurs prior to the date of the check. A check is payable upon demand unless you submit a formal post-dating notice with your bank, possibly for a fee. Contact your […]
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I need to cash an $8,000 check. The bank said it needs sufficient notice to provide that much cash. What can I do?
Instead of requesting the entire amount of the check in cash, consider obtaining a cashier's check or wire transfer for all or part of the check amount. Your deposit account agreement should say how much notice the bank […]
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What is Check 21?
Check 21 refers to the Check Clearing for the 21st Century Act. Check 21 is a federal law that allows banks to handle more checks electronically. It allows banks to truncate a check by removing the original from […]
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I went to the bank the check was drawn on to cash it. The bank refused to cash the check because I do not have an account with them. Is this legal?
There is no federal law or regulation that requires banks to cash checks for non-customers. Most banks have policies that allow check cashing services only for account holders. If a bank agrees to cash a check for a […]
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