The three types of check endorsements are blank, restrictive and special. Each type of endorsement has its own rules for depositing or cashing the check.Know More
A blank endorsement, the most common type, is endorsed by the payee and presented to the bank for cash or deposit. A restrictive endorsement is done by writing "For deposit only" in the endorsement area, instead of the payee signing his name. This type of endorsement is only to be deposited to the payee's account at his financial institution.
A special endorsement is used when the payee wishes to sign a check over to another person. This is done by the payee signing his name, then writing "Pay to the order of (new person's first and last name)." The new payee then signs his name in the endorsement area and cashes or deposits the check.Learn more about Personal Banking
Business owners can find templates through online and traditional payroll services and in downloadable apps. The services and software make it easy to generate pay stubs in a variety of formats.Full Answer >
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."Full Answer >
Purchasing a cashier's check immediately transfers the monetary amount of that check from the buyer's account into the bank's account, where it remains until the recipient cashes the check, explains About.com. Because the bank verifies the funds before issuing the check, cashier's checks are more secure than personal checks.Full Answer >
According to Forbes, a bank is not obligated to pay a check that is more than six months old. After the initial period it is to the discretion of the bank whether to honor the check or not.Full Answer >