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No. Firstly you cannot cash a check made out to another person and it is a crime. Secondly, if you want to open an account in your name, you can use only cash or a check that is payable in your name i.e., the name of the account holder. If you try to use the other persons check, the bank may politely refuse you or in worst case raise a complaint against you for forgery with the cops.
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A check is made payable to two people do both parties have to be on the checking account in which the check is deposited?
No
Check received is that an account payable?
No it's cash. Though it is in the form of a "check" it is easily transferred to cash and is recorded as such. Also, even if it wasn't considered cash (it is) it would be a receivable, not a payable.
Are checks written by a depositor and paid by the bank?
Yes, a person with a bank account (a depositor) can write a check against that account for a sum of money. The person given the check (who the check is made out to) then presents it to their bank and the banks between them move the money from the account of the person who wrote the check to the account of the person who was given the check.
Is it forgery if a spouse writes a check out of a single account?
It depends: a. No - If the spouse writes a check out of a single account held by the person writing the check b. Yes - If the spouse writes a check out of a single account that is held by their spouse and the person writing the check is not a joint owner of the account. To be simple: Writing a check from an account that is not held by the person writing the check is a crime.
How can a check made out to the decedent's estate be cashed?
A check made payable to the estate of a deceased person can be a problem. Legally, it must be cashed by the court appointed estate representative, i.e., the executor or administrator. If there is no other property owned by the decedent and no probate was filed, and if the decedent owned a joint bank account with another person, the bank may allow the check to be deposited in that account. However, if that doesn't work then a probate will need to be filed to establish the identity of the person who can legally cash the check.
Can a check made payable to one person be deposited to joint account?
yes
When funds are withdrawn from a persons account by a check payable to cash is this a negotiable instrument?
At Chase, checks payable to cash are only negotiable by the account holder for the account the checks are written from.
A check is made payable to two people do both parties have to be on the checking account in which the check is deposited?
No
Who is the person to whom a check is made payable is called?
The payee
Do you sign the back of a cashier's check?
If it is made payable to you, yes. If you are the remitter (purchaser - person paying with the check), no.
If you owe money at a bank can they still seize funds if you deposit a check from someone who also holds an account there into your checking account at a different bank?
To clarify, I owe money at US Bank for a defaulted credit card with them. I have a TCF checking account. If I try to deposit a check made payable to me, and that check happens to be a US Bank check, can US Bank seize the check made payable to me even if I deposit it into my TCF checking account? Not sure if they will see that US Bank funds are made payable to me from someone else's account. Any insight would help! Thanks!
Check received is that an account payable?
No it's cash. Though it is in the form of a "check" it is easily transferred to cash and is recorded as such. Also, even if it wasn't considered cash (it is) it would be a receivable, not a payable.
Can you change a check in to money?
Yes, a check is a bank draft drawn on an account. Provided the account has funds and is payable to you, it can be cashed at your bank or any check cashing place or if you go to the bank it was drawn on with ID, they will cash it for you.
Cashing someone else's payroll check without account?
Is No. 1 - Forgery and No. 2 - Not Possible. you can only cash checks that are payable to your name/account.
Are checks written by a depositor and paid by the bank?
Yes, a person with a bank account (a depositor) can write a check against that account for a sum of money. The person given the check (who the check is made out to) then presents it to their bank and the banks between them move the money from the account of the person who wrote the check to the account of the person who was given the check.
Is it forgery if a spouse writes a check out of a single account?
It depends: a. No - If the spouse writes a check out of a single account held by the person writing the check b. Yes - If the spouse writes a check out of a single account that is held by their spouse and the person writing the check is not a joint owner of the account. To be simple: Writing a check from an account that is not held by the person writing the check is a crime.
Can ABC Company deposit a check into their account if the check is made payable to CBS Company?
Yes if the bank accepts it, but ABC company is liable for the amount if the check isn't paid.
