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Endorsing a Check


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#1 FYI

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Posted 14 March 2011 - 03:24 PM

Do you endorse your check before depositing it into the bank? If not, why not?

At what point after receiving the check, do you endorse the check? Immediately after receiving it? While filling out deposit slip?

What information do you put on the check when endorsing? Just a signature? Signature plus account?
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#2 Bet Chesed

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Posted 14 March 2011 - 03:29 PM

Do you endorse your check before depositing it into the bank? If not, why not?

At what point after receiving the check, do you endorse the check? Immediately after receiving it? While filling out deposit slip?

What information do you put on the check when endorsing? Just a signature? Signature plus account?


Yes, because that's the way my parents taught me how to do it, and I've never questioned the practice.

I endorse right before I deposit, same time as the slip, and include the account number. I didn't know there were alternatives!
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#3 FYI

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Posted 14 March 2011 - 03:30 PM

I didn't know there were alternatives!

Of course there are.
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#4 Razie

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Posted 14 March 2011 - 03:35 PM

hardly ever get checks, but when I do I endorse at the bank, or if I endorse beforehand I'll write "For Deposit only to Account # xxxxxxxxx"

logic is that once you endorse it, if you lose it anyone else can take it and cash it. But I suppose that's true with cash. Don't lose cash, and don't lose checks :p

But if it were, say, a $10,000 check, I definitely wouldn't endorse it until I was at the bank.

#5 FYI

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Posted 14 March 2011 - 03:38 PM

hardly ever get checks, but when I do I endorse at the bank, or if I endorse beforehand I'll write "For Deposit only to Account # xxxxxxxxx"

logic is that once you endorse it, if you lose it anyone else can take it and cash it. But I suppose that's true with cash. Don't lose cash, and don't lose checks :p

But if it were, say, a $10,000 check, I definitely wouldn't endorse it until I was at the bank.

Is it safer to wait until at bank to endorse? OR is it safer to endorse ASAP with the deposit only claim?
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#6 Razie

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Posted 14 March 2011 - 03:45 PM

Is it safer to wait until at bank to endorse? OR is it safer to endorse ASAP with the deposit only claim?

deposit only is safest. Someone can forge your signature, but it's hard to cross out a deposit-only assertion.

#7 FYI

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Posted 14 March 2011 - 03:49 PM

deposit only is safest. Someone can forge your signature, but it's hard to cross out a deposit-only assertion.

So why would you do the opposite wiht a $10,000 check versus an $18 Chanukah gift?
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#8 Razie

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Posted 14 March 2011 - 03:50 PM

So why would you do the opposite wiht a $10,000 check versus an $18 Chanukah gift?

I wouldn't now - I'm saying you're right. For deposit only is probably the safest approach.

Thing is, I take care not to lose checks, so whatever.

#9 FYI

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Posted 14 March 2011 - 03:51 PM

Thing is, I take care not to lose checks, so whatever.

I guess you're more responsible than I am.
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#10 lyric

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Posted 14 March 2011 - 03:57 PM

You don't need to endorse a check made out to you AFAIK, unless you are paying it over to someone else. eg. Ami magazine sends me dollar checks which for me are a PITA, so MH takes them and pays them into a dollar bank account he has in Israel, so I endorse them otherwise he wouldn't be able to do that as they're made out to me.
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#11 FYI

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Posted 14 March 2011 - 03:59 PM

You don't need to endorse a check made out to you AFAIK, unless you are paying it over to someone else. eg. Ami magazine sends me dollar checks which for me are a PITA, so MH takes them and pays them into a dollar bank account he has in Israel, so I endorse them otherwise he wouldn't be able to do that as they're made out to me.

Endorsing a check, means you're giving over rights to another person, afaik. You can endorse a check to a person or a bank. I believe there is a limit to how many times one check can be endorsed though.
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#12 lyric

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Posted 14 March 2011 - 04:11 PM

Endorsing a check, means you're giving over rights to another person, afaik. You can endorse a check to a person or a bank. I believe there is a limit to how many times one check can be endorsed though.


I've never yet endorsed a check to a bank. I just pay it in to my account.
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#13 FYI

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Posted 14 March 2011 - 04:11 PM

I've never yet endorsed a check to a bank. I just pay it in to my account.

What does that mean? (Do you mean 'deposit'?)
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#14 Red Hare

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Posted 14 March 2011 - 04:16 PM

i deposit my checks online.
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#15 lyric

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Posted 14 March 2011 - 04:16 PM

What does that mean? (Do you mean 'deposit'?)

Yes.
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#16 FYI

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Posted 14 March 2011 - 04:16 PM

How?
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#17 Guest_miri_*

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Posted 14 March 2011 - 04:19 PM

As an aside, my business law books spelled it "indorse" instead of "endorse," and it drove me batty. Even Firefox thinks it's spelled wrong.

#18 FYI

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Posted 14 March 2011 - 04:23 PM

As an aside, my business law books spelled it "indorse" instead of "endorse," and it drove me batty. Even Firefox thinks it's spelled wrong.

How can a law book not know how to spell the word endorse?
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#19 lyric

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Posted 14 March 2011 - 04:30 PM

How?


How what?
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#20 Guest_miri_*

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Posted 14 March 2011 - 04:33 PM

How can a law book not know how to spell the word endorse?

Both are correct, but endorse is much more commonly used.




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