Answer by John Burnett: If there is no language on the check limiting negotiability, I am unable to figure out why these checks would not be exchangeable for cash, except in cases where a bank's policy addresses such checks.
There is no reason I can fathom that an issuer would want to prevent its checks from being cashed. So, unless I'm missing something here, the target of your indignation (or questions) should be the bank being asked to cash the check.
Answer by Ken Golliher: Where are you getting the impression that these checks cannot be cashed? If you re-post in the Operations Forum, we will respond, but we need to know how you reached your conclusion that the checks are for deposit only.
First published on BankersOnline.com 1/5/04