07/18/2011
If our business customer's account name is Growing Tree Learning Center Inc., can we accept the following checks (with payee names) for deposits: 1) GTLCI; 2) GTLC; 3) Growing Tree; 4) Growing Tree Learning Co. 5) Learning Center. What is the common banking practice on this issue? Any regulation violations?
07/04/2011
I have a corporation that has multiple trade names. They already have one account set up with a single trade name. Should we require them to open a separate account for the additional trade name? Alternatively, can they just add it to the current account and we can redo the documents? Is there any risk to the bank to have multiple trade names on one account?
06/27/2011
A bank guarantees a business customer's endorsement for depositing a check. Are they verifying just the customer or the fact that they are an authorized signer for the business?
05/30/2011
A returned cashier's check is marked "refer to maker". What recourse does the payee have?
05/09/2011
I have a check made payable to John Doe and Jane Doe, Individually and as Husband and Wife, Only. Can you please explain this endorsement?
05/02/2011
Can a recipient of social security benefits endorse their check payable to the order of a third party?
05/02/2011
If a check is made payable to X and Y, both must endorse. What if it is payable to X with Y?
04/25/2011
The endorsement used by the US Treasury on tax payments they receive has been changed. They have removed the verbiage "credit to the US Treasury." There is still a reference in the endorsement as to who made the payment, but nothing showing the Treasury received benefit of the check. Should we accept this endorsement without question?
04/25/2011
When an Official Check is missing one of two endorsements, how long do we have to return the item for "missing endorsement" and do warranty claims apply per the UCC?
04/11/2011
A person brings in a check payable to her employer that is endorsed over to her. She endorses and cashes or deposits the check. However, the employer's endorsement is fraudulent. Is the bank of first deposit on the hook for the funds?