A check endorsement is a signature on the back of a check. Financial institutions require all parties listed on the check to sign the back to be able to cash or deposit the check. A check typically has a designated area for customers to sign, and it is usually marked with the statement "Do not write, stamp or sign below this line."Know More
The signature on the back of the check should match the name on the front. If the payer of the check spells the name incorrectly, financial institutions advise individuals to sign it the way it's written and then sign it normally. The same is true of any others listed on the check unless other signatures are not necessary.
In addition to the endorsement, individuals should also consider restricting how tellers can process the check. If the check already has a signature on the back of it, anyone with an ID matching that name would be able to cash the check. Using a phrase such as "deposit only" indicates to the bank teller that he or she is not to give cash on that transaction, and it limits the transaction to a deposit only. If someone picks up the check with fraudulent intentions, this will make the person unable to cash the check.Learn more about Personal Banking
People can cash a check by going to a branch location of the bank or credit union that issued the check, according to the Consumer Financial Protection Bureau. Individuals must present proper identification to cash the check.Full Answer >
A canceled check is one that has been paid by the bank and marked as canceled. Canceled checks also prove payment when a recipient claims that he has not been paid by someone that owes him money.Full Answer >
A stale check is one that is presented for payment six months or more past the date on its face. Banks are under no obligation to cash a stale check unless it is a certified check; however, the institution can cash the instrument if it appears to be a payment made in good faith. Each financial institution may have its own policy on whether to pay or decline these checks.Full Answer >
Under certain circumstances, you can cash a check made out to someone else. The most common method used to cash a check made out to someone else is to have them sign the back of the check. The payee's signature creates a blank endorsement, allowing anyone holding the check to cash it.Full Answer >