02/27/2012
How should a check be endorsed when made payable to person (our customer) and a business name (not our customer) and there is no "and" or "or" between the named payees?
02/27/2012
Most of our customers are depositing checks remotely using a check scanner. We spot check deposits over a certain amount and have noticed occasionally some are made payable to multiple payees and they are not endorsed properly. We normally put a Reg CC hold on the deposit because most of the time the check is returned. We had one instance where the check was not returned and now the bank that issued the check is asking us for the funds back (6 months later) because of missing endorsements. We can't prevent the customer from depositing the check (unless we take the machine away), but what options do we have to get the other bank to return it, sooner than the 7 days?
02/20/2012
What is the proper endorsement when a check is made payable to John Doe and below it Chase LLC with no "and" "or". Can this check be deposited to John Doe's personal checking with cash back? (BTW Chase LLC is not a customer of the bank).
02/20/2012
Please explain the liability when a business customer attempts to deposit a check made payable to multiple businesses i.e. Business A and Business B. Someone from Business A signed it but there is no way to verify the authority and endorsement and Business B is trying to deposit the check into their account.
01/30/2012
I have a customer that has a check made out to General Contractor and Sub Contractor, (the Sub Contractor is my customer) My customer wants to deposit the check into account at my financial institution. What is the required endorsement to transact this item?
01/23/2012
We have a customer that wants to cash a check with this verbiage in the payee designation: "John Doe TTEE Jan Doe Trust DTD 12/28/1972." What is the correct endorsement on this check? What endorsements are required on cashing a check payable to a name AND name JWROS account?
01/23/2012
We have an account where someone has been forging checks and cashing them. What is the liability of the bank? Is there a time frame where the customer is just out of luck?
01/23/2012
Does a bank have the right to charge-back a check that was deposited into an account when the check was made payable to someone other than the owner of the account? For Example: The check is made payable John and Jane Doe but they want to deposit it into Sue Smith's account. John and Jane both sign the check. Does Sue need to sign the check as well for the deposit to go into her account? If the check is sent back NSF, does that bank have the right to charge-back Sue Smith's account if her signature is not on it?
01/16/2012
What are the consequences for someone depositing a double endorsed government check?
01/09/2012
When a Business comes in to cash an on-us check, should we cash the personal check or convert to a teller check? Also, is an signature endorsement required from the Business's Financial Institution?