F
finisklin
Guest
Hello!
hope someone can help on this one......
I received a cheque from my insurance company in relation to a claim for water damage due to burst pipes over Xmas. I received two cheques - one made out to myself personally and the other to myself and Ulster Bank who have an interest in the property.
The teller informed that it is bank policy not to accept cheques where it is made out to an individual and Ulster Bank. It is as if Ulster Bank and myself have a joint account. The cheque is also crossed account payee. The cheque looks like as follows (example):
Pay: A.N. Other and Ulster Bank
The insurance broker has confirmed that the reason for issuing it like this is that the bank has an interest in the property as my mortgage is with Ulster bank. In addition, the insurance broker has indicated that they have had no complaints like this and that this is the first time it has happened.
It looks like the insurance company have to figure out antother way to make the payment. That's not my problem, as such.
My question is this - have people experienced something similar with Ulster Bank or is this just an isolated case? Can this really be there policy?
hope someone can help on this one......
I received a cheque from my insurance company in relation to a claim for water damage due to burst pipes over Xmas. I received two cheques - one made out to myself personally and the other to myself and Ulster Bank who have an interest in the property.
The teller informed that it is bank policy not to accept cheques where it is made out to an individual and Ulster Bank. It is as if Ulster Bank and myself have a joint account. The cheque is also crossed account payee. The cheque looks like as follows (example):
Pay: A.N. Other and Ulster Bank
The insurance broker has confirmed that the reason for issuing it like this is that the bank has an interest in the property as my mortgage is with Ulster bank. In addition, the insurance broker has indicated that they have had no complaints like this and that this is the first time it has happened.
It looks like the insurance company have to figure out antother way to make the payment. That's not my problem, as such.
My question is this - have people experienced something similar with Ulster Bank or is this just an isolated case? Can this really be there policy?