Cheque - lodging someone else's cheque into my ac without their signature on back?
- Thread starter Aichay13
- Start date
No, its not crossed
No, its not crossed
then can the payee cash it in a shop where they are known: you will find lodging third party cheques to accounts very tough these days, even if signed on back.
They will send it for collection if any doubt which means that u wont get value until they have the funds form the payee's bank
They will send it for collection if any doubt which means that u wont get value until they have the funds form the payee's bank
Prittstick
Registered User
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- 40
If you have a Credit Union account, try lodging it there. They are usually not as pushed on these finer details, especially if they already know you.
Yeah I do have a credit union account...then I'll try it there, i really hope it works thank you
Steven Barrett
Registered User
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- 5,324
If it's not crossed, they have to sign on the back. Otherwise, how can the teller know whether it's a stolen cheque or not.
Anti-money laundering legislation is incredibly tight these days and staff should be trained and instructed not to cash unsigned 3rd party cheques.
thedaddyman
Registered User
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- 1,340
If the cheque is crossed a/c payee only then it has to be lodged to the payee and cannot be endorsed over to someone else. Most banks these days when they are cashing a cheque will lodge it to your account and if it bounces, they will debit you back.
On the front of the cheque just after "Payee" are two words, "or order". If you get the payee to sign the cheque on the back and beneath their signature they write "pay Mr. (your name).
Then you sign beneath this, technically, you should be able to lodge it into an account in your own name.
Then you sign beneath this, technically, you should be able to lodge it into an account in your own name.
So what is to stop somebody else signing the cheque pretending to be the original payee??? I'm not saying that you should do this OP. But what if I found a cheque for a small amount, got somebody to sign the payee's name (so the handwriting wouldnt be like mine) and lodged it to my account.
If its a small amount the original recipient probably isnt going to bother about it.....so the cheque would (probably)never be cancelled and i'd have the cash.
If its a small amount the original recipient probably isnt going to bother about it.....so the cheque would (probably)never be cancelled and i'd have the cash.