Cheque in team name! Help!

F

fitz

Registered User
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26
Our tag rugby team was involved in a promotion over the summer with a drinks company. They have now sent us a cheque. Problem is is that the cheque is written out to the team name and they wont write it to any individual.

We could obviously setup a club account with a bank and lodge it that way but thats quite a lot of hassle...requires constitution etc..

Any bright ideas as to how to cash the cheque??

Cheers.
 
years ago i got a friend that worked in the credit union to cash my cheques. i also got another friend who worked in a shop to cash my cheques. do you know of anyone in this way? that might be one way but i am not 100% sure. anybody else know?
 
I'm pretty sure you can lodge it to your own account i.e. endorse it and the bank will wait till its cleared before giving you any cash on it. Is this not the same as third party cheques ?
 
elcato said:
I'm pretty sure you can lodge it to your own account i.e. endorse it and the bank will wait till its cleared before giving you any cash on it. Is this not the same as third party cheques ?
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I'm pretty sure Elcato's right here, at least on the basis of my own experience. The bank will also come back to you pdq if the corresponding debit from the issuing account is ever queried subsequently, but from what you've said that sounds unlikely...
 
As long as the cheque is not crossed and marked 'a/c payee' you can lodge the cheque on your club's behalf.
 
daltonr said:
As long as the cheque is not crossed and marked 'a/c payee' you can lodge the cheque on your club's behalf.
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If there are 2 diagonal lines either drawn or printed on the cheque, then it is regarded as crossed, and therefore can only (in theory) be lodged to an account bearing the name of the payee. the 2 diagonal lines are the crossing of the cheque regardless of anything written between the lines. Some banks print diagonal lines onto each cheques, so in effect each cheque is then crossed.
 

Actually Joe1234 you're incorrect:

If you look up [broken link removed] it states:


As daltonr said... as long as cheque is NOT crossed AND written 'a/c payee', fitz can lodge on behalf of club.

-soc
 
soc said:
Actually Joe1234 you're incorrect:
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First trust is a uk bank, and probably covered by uk law. When I learned about banking law, it was irish law, and so it could be different. What I stated in my previous post, was what I was taught. Although it is a few years ago, I doubt if there has been any change since.
 
I regularly lodge cheques not made out to me to my BOI account. Some are crossed/some not. I use the express lodgement service. Have been doing it for years now and was never queried. My acc is credited within hours and once the cheques clear there is no problem. Everyone happy!
 
Pollock said:
I regularly lodge cheques not made out to me to my BOI account.
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I know for a fact that someone who has a business account with bank of ireland was prevented from lodging cheques made out to him because the account was in his trading name, ie Persons name John Smith, and cheques made out to him. Trading as JS Electrician (for example). Bank would not let him lodge cheques made out to John Smith because the account was in the business name.
 
Thanks for the feedback! The cheque isnt crossed. So should I cross it and write "A/C Payee" and sign the back and lodge it?

Alternatively I could sign the back and lodge it as it is via express lodgement??

advice?
 
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