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kinda poor

@sbcglobal.net

got check made out to 2 people - how to sign it for deposit?

so i got this check made out for 2 people,
we're both on the bank account, but do we both sign the back of the check to deposit it or just 1 signature is needed?


crossedeyed
Troublemaker

join:2004-07-30
Malvern, AR
Depends. If it says and between the names, then yes. If it says or, then just one of you
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sdgthy

@optonline.net
reply to kinda poor
For deposit, one should be all you need.


cocothebean
You Are My Nightmare
Premium
join:2002-11-16
Carson City, NV
reply to kinda poor
If both names are on account only 1 signature is required.
But, when I get 1 like that we both sign just in case.


Irun Man
Premium
join:2002-10-18
Walden, NY
reply to kinda poor
CYA's- have both parties sign, just in case. Some banks can be sticklers with their rules for deposits. As long as the check is being deposited you should be fine, just don't attempt to cash it.
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wafen
Mr woogie
Premium,MVM,Ex-Mod 2006-14
join:2001-02-01
Maplewood MN
kudos:1
reply to kinda poor
said by kinda poor :

so i got this check made out for 2 people,
we're both on the bank account, but do we both sign the back of the check to deposit it or just 1 signature is needed?

Depends.
If you are a minor and this is a custodial account, both you and your parent/guardian would have to sign.
If you're an adult, some banks will accept deposits with one signature.
If this is a personal check just sign it and below the signature line put "Deposit Only" and you should be fine.
If this is a business check or the like, the bank most likely will require both signatures as the check guarantor is requesting.
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tcope
Premium
join:2003-05-07
Sandy, UT
kudos:2
reply to kinda poor
From what I have read recently, Bank Of America has changed their practice in this matter. Even if both parties are on the account, the check would still require two signatures of they are seperated by the word "and". Other banks may be the same.

Note: This seems much better to me as even if it's a joint account, the word "and" would be used to protect both parties interest in the funds.... regardless of their joint bank account status.


AbBaZaBbA
Premium
join:2002-07-10
Wildomar, CA
kudos:4
reply to kinda poor
sign it and stick it in the atm (assuming it's not a huge huge amount) they really don't care or check the checks deposited in atm's becuase it's too much of a hastle to return them to the customer so they just process them.


dba
Resistance Is Futile
Premium
join:2004-02-05
Colorado Springs, CO
reply to kinda poor
Only one of you need to sign the back of the check for deposit.
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CylonRed
Premium,MVM
join:2000-07-06
Bloom County
reply to Irun Man
said by Irun Man:

CYA's- have both parties sign, just in case. Some banks can be sticklers with their rules for deposits. As long as the check is being deposited you should be fine, just don't attempt to cash it.
Yep - at my CU - the teller will determine what happens. When my wife goes in with a check made to me for deposit in our joint account - she just signs it with her name. When I try and do the same thing with one of her checks - I get the teller that insists that we BOTH have to sign it to deposit it in our joint account.
--
Brian

"Some people are like Slinkies...
Not really good for anything......
But they still bring a smile to your face when you push them down a flight of stairs."


kinda poor

@sbcglobal.net
reply to kinda poor
went to the teller to ask,
BOFA teller said only 1 signature needed.

but next time we'll both sign it just in case.


Combat Chuck
Too Many Cannibals
Premium
join:2001-11-29
Verona, PA
reply to Irun Man
said by Irun Man:

just don't attempt to cash it.
There are banks that still cash checks? (as opposed to just depositing the check and drawing off of your previously available balance)
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CylonRed
Premium,MVM
join:2000-07-06
Bloom County
All of them should do it still....


Irun Man
Premium
join:2002-10-18
Walden, NY
reply to AbBaZaBbA
said by AbBaZaBbA:

sign it and stick it in the atm (assuming it's not a huge huge amount) they really don't care or check the checks deposited in atm's becuase it's too much of a hastle to return them to the customer so they just process them.
YMMV; my Credit Union called me on a check I deposited in their ATM the previous day; the date had the wrong year and they mailed it back to me. I had to ask the payor for another draft with the correct date!
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Life is a journey; death is a given.


Greg_Z
Premium
join:2001-08-08
Springfield, IL
reply to kinda poor
The key is to remember: One name on the check, but two people on the account, the person the check is made out to, signs the check. Two people on the check, but under one account name holder, both sign. Both persons name on the check, & two people on the account, both sign the check. There is no more deviation then that.

Banks will not accept checks no matter what, if two parties are on the check as the Payee.
--
I threw out the map a long time ago. Now I follow my own direction!


sdgthy

@optonline.net
reply to AbBaZaBbA
The problem with using an ATM is that if they loose the check, you have to prove they received and processed it. I had a former bank pull that on me. If I had given the deposit to a teller, they claimed, I would not have had to get a copy of the cancelled check to prove they had processed it. From that day I no longer deposit checks using an ATM and I give them to a teller.


93388818
It's cool, I'm takin it back
Premium
join:2000-03-14
Dallas, TX
reply to tcope
said by tcope:

From what I have read recently, Bank Of America has changed their practice in this matter. Even if both parties are on the account, the check would still require two signatures of they are seperated by the word "and". Other banks may be the same.

Note: This seems much better to me as even if it's a joint account, the word "and" would be used to protect both parties interest in the funds.... regardless of their joint bank account status.
Our BofA hasn't changed yet. In fact, we don't sign checks at all, we just write "for deposit only, checking acct: 11111111" on the back. They take them everytime.
--
-Corona


n1zuk
making really tiny tech things
Premium
join:2001-10-24
Malta
kudos:2
reply to kinda poor
Sign your name, then sign the other person's name. Unless someone complains, no one will bother to look at the signatures. After all, they are bank tellers, not handwriting experts...
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93388818
It's cool, I'm takin it back
Premium
join:2000-03-14
Dallas, TX
reply to kinda poor
I have a coworker that just signed up for banking accounts at USAA. She said you can scan a check and email it in as a deposit. Obviously, no signature needed then.
--
-Corona

tcope
Premium
join:2003-05-07
Sandy, UT
kudos:2
said by 93388818:

I have a coworker that just signed up for banking accounts at USAA. She said you can scan a check and email it in as a deposit. Obviously, no signature needed then.
Hmmm... can I just make a few thousand copies of the check and deposit those also? Seems like this might defeat a few security features on checks (micr ink, anti-copy paper, etc).

Why would it be obvious that a signature is not needed? A person could still sign the check and then scan it.


93388818
It's cool, I'm takin it back
Premium
join:2000-03-14
Dallas, TX
said by tcope:

said by 93388818:

I have a coworker that just signed up for banking accounts at USAA. She said you can scan a check and email it in as a deposit. Obviously, no signature needed then.
Hmmm... can I just make a few thousand copies of the check and deposit those also? Seems like this might defeat a few security features on checks (micr ink, anti-copy paper, etc).

Why would it be obvious that a signature is not needed? A person could still sign the check and then scan it.
Sorry. She said no signature required on the scanned checks. Seems like theirs a chance of fraud, but maybe they wait to credit until the check really clears. Dunno for sure.
--
-Corona