Bank refused to accept as it was crossed and we don't have a joint account. Would one of us be able to pay the cheque into our own account? These days you can do a lot via online banking. If it's a cardcash, I believe a credit check will be run on your partner. This is a guide on how to write a cheque properly in the uk. Always remember anyone can post on the MSE forums, so it can be very different from our opinion. The (potential) problem being, we don't have a joint bank account. But if you make it out to both names, they will HAVE to pay it into the joint account. The car was insured under two names, and so these names are on the cheque. You need to write the payee's name as it appears on their bank account. There is a charge for this service which means that the person to whom the cheque was made payable will get back less cash than the face value of the cheque. If it is being paid into an account, the account must be in the name(s) of the person(s) named on the cheque. Michael H. Lv 7. Canada has one of the most efficient cheque clearing systems in the world and, while the use of cheques has been declining with the growing popularity of electronic and card payments, financial institutions in Canada still process nearly a billion cheques every year. The second payee on the cheque will need to endorse the back of the cheque with a signature in the presence of the cashier. If cheque is issued to Payee A and Payee B, cheque can be deposited to: Print and sign the form, then post it to us, along with your cheques, to: Nationwide Building Society PO Box 8888 Swindon SN38 1NW. If the name is slightly wrong there may be a bit of tooing and froing between the two banks. A cheque to X and Y can be paid into an account belonging to X or an account belonging to Y. Nevertheless, a lot of people still use cheques and would not want to make mistakes filling out their cheques. If it is being paid into an account, the account must be in the name(s) of the person(s) named on the cheque. Having already set up a limited company and registered with Companies House with one name they find that they would rather run the business under another name. We don't think much about depositing a check made out to ourselves. *Names have been change to protect the innocent. Up until 1992, there was no reason why a person could not hand over a cheque, made payable to themselves, to someone else for them to pay into their own bank account. The cheque therefore must be paid to a bank (e.g. it is BOI cheque, with my name and one other name on the cheque. I recently moved out of an apartment I shared for a year with a roommate. I've done it in the past with HSBC and it wasn't a problem. Your best bet is to get the bank to issue two cheques for the required amounts in your individual names. Payments by negotiation. thanks Julie marriage) and can provide documentary proof (we would require a legal linking document such as a marriage certificate to prove the link between the names or in the case of divorce, a birth certificate to show the maiden name), it is acceptable for a branch to process a cheque. If the name on the cheque differs to the account name because you have changed your name (e.g. This is known as a ‘business name’. Can a check made out to 2 people be deposited into a non joint account? Past-Member, Feb 18, 2011 #2. Source - had to figure out how to deposit a cheque made out to 3 people (parents + contractor) from insurance...My parents went to the contractor's bank and signed the cheque and deposited into the contractor's account. I have a check made out to myself and another person My bank will not allow e to deposit it into my personal account and there is no way to set up a joint account at this time. A. The cheque cashing agencies will have already cashed the cheques for the person who has received the cheque (that is the person named in the payee line). To enable Verizon Media and our partners to process your personal data select 'I agree', or select 'Manage settings' for more information and to manage your choices. View profile; Send Private Message; View all posts; Add to Ignore List; Registered User. If you think you made a mistake, for example you wrote the wrong name on your cheque, or you lost it, you can ask your bank to cancel it. Find out more about how we use your information in our Privacy Policy and Cookie Policy. A cheque is just a standard format of a written instruction to your bank. You can change your choices at any time by visiting Your Privacy Controls. If it says and, either can deposit it into a join account. Cheque writing is not as popular as it used to be. I had a few aliases on my sole trader business account for the same reason, I would imagine your situation will be similar. Remember to keep the cheque stub that contains the cheque … Editor, Marcus Herbert. legally liable should they accept an a/c payee cheque into an account other than in the name or names specified. Legal Eagle Member. as banks like to do. 0 0. H and I have now separated and so no longer have the joint account, … Posts: 2,551. Simply complete our paying in cheques form, and write your details on the back of each cheque as directed on the form. If the check was made out to both people using the word “and,” then it has to be cashed by both parties. etc. This is called a multi-party, or joint, check. I hope this helps. In theory yes. Stopping cheques and other cheque issues Stopping a cheque. We don't as a general policy investigate the solvency of companies mentioned (how likely they are to go bust), but there is a risk any company can struggle and it's rarely made public until it's too late (see the. If it says or between the two names, either can deposit it. If a cheque is made out to more than one person, it has to be paid into a joint account. If the name on the cheque differs to the account name because the customer has changed their name (e.g. We and our partners will store and/or access information on your device through the use of cookies and similar technologies, to display personalised ads and content, for ad and content measurement, audience insights and product development. But when a check is made out to more than one person, it gets a little more complicated.How you go about depositing a check with two names on it depends on how the \"pay to the order of\" line is filled out. Multiple Names in Cheque. It had both her full name and my full name. The rules concerning crossed cheques are set out in Section 1 of the Cheques Act of 1992 and prevent cheques being cashed by or paid into the accounts of third parties. Inland Revenue document, gas bill, benefits entitlement letter etc etc. Biggest problem I had is that everyone in the bank wanted to tell me it was a big job and I needed to visit various different branches and book appointments, wait around, fill in forms etc. Cheques are a crucial part of the British payments landscape - nearly £840 billion of cheques were processed in 2012 – accounting for 10% of all payments made by individuals. It is quite a common occurrence in the UK for Limited Companies to adopt a “trading” name to run their business with. Separate the two names with either “and” or “or," depending on what you decided regarding how many payees should have to endorse the check. A common instruction is for the cheque to be deposited directly to an account with a bank and not to be immediately cashed by the holder over the bank counter. You can trade using a different name to your registered name. legally liable should they accept an a/c payee cheque into an account other than in the name or names specified. She took the check in to deposit it and had no problem just endorsing it with … You can pay it into his account. "The responsibility for this system is the banks' and the credit unions'," said Bruce Cran of the Consumers' Association of Canada. Refund Cheque made out to two names. I don't know the policies at all banks, but I was told by someone at CIBC that there are rules for items being deposited into the ATM and the name would not be verified unless the cheque was over a certain amount (don't remember the number, but it was very high). 08.12.2017 09:53 #1. bazermc. Checks made out to either individual using the word “or” can be cashed by either person. I deposit cheques made out to my husband into my account at a CIBC atm all the time (we have different last names). BearBear Posts: 137. The cheque reads: PAY MR XXXX MS YYYY and is crossed A/C PAYEE It's a relatively small amount (under £100) This isn't a common practice in some other countries, so for some people in this situation they may have to use a joint account or have both parties present at the bank. It's in my maiden name/payable to two people. This info does not constitute financial advice, always do your own research on top to ensure it's right for your specific circumstances and remember we focus on rates not service. On a crossed cheque the words “account payee only” (or similar) are printed between two parallel vertical lines in the centre of the cheque. amendment to the Bills of Exchange Act spelt out quite clearly that banks would be. The cheque will be handled either by negotiation or by collection. Checks made out to either individual using the word “or” can be cashed by either person. into a customer's account). Join Date: Aug 2008. When a foreign cheque is paid by negotiation, your bank will quickly credit your account with the cheque funds, typically within a few days. ... Cheques made out to just one name can be paid into sole or joint accounts bearing that name. Information about your device and internet connection, including your IP address, Browsing and search activity while using Verizon Media websites and apps. A crossed cheque is a cheque that has been marked specifying an instruction on the way it is to be redeemed. Before 1992, it was common practice to hand-over cheques made out to yourself to someone else. 1 A cheque is an agreement of payment between two individuals or organizations. Report Post. Good luck. If NAB does cash a crossed cheque, it may be … If the drawer of the cheque crosses out the term "account payee only" and initials the amendment, then the cheque can be presented in to a single name account. Cheques addressed to two persons can be deposited into a joint account belonging to them, or to either person's personal account depending on how the cheque is written. I experienced this situation when my ex fiance and myself separated and closed our joint account. For example, you’d get a multi-party check if you are due a tax refund and you and your spouse filed a joint tax return. We often link to other websites, but we can't be responsible for their content. Yahoo is part of Verizon Media. Legally, a cheque can only be cashed by the person or persons to whom it is made payable. Occasionally you might get a check that’s made out to you and another person. The rules mean that a cheque which bears the ‘A/C Payee’ crossing can only be paid into an account in the name of the recipient exactly as it appears on the cheque. If you want to test the depth of the water .........don't use both feet ! Re: Cashing check with two names on it. You simply had to write the name of the person on the back of the cheque and that was it – job done. I received my refund check, however it is made out to myself and my exwife, so my first name, her first name and my surname. You might have to get the person who wrote the check to cancel the old one and give you another. I recently cancelled my car insurance, and got a refund cheque. Comments. We were asked if we wanted a cheque made payable to us both, or separate cheques. We've been given a refund by our old energy company, made out in the form of a cheque, to us both. Can I lodge a cheque into my own bank account if the cheque is made out in two names? Your best bet is to get the bank to issue two cheques for the required amounts in your individual names. There is often a charge for this. “After section 81 of the Bills of Exchange Act 1882 there shall be inserted the following section—81A—(l) Where a cheque is crossed and bears across its lace the words "account payee" or "a/c payee", either with or without the word "only", the cheque shall not be transferable, but shall only be valid as between the parties thereto." If we're the only check payee, we just endorse it by signing it on the back and we put it in the ATM, bring it to the bank or take photos of it with our cellphone. You don't need both names. SANTANDER TO CUT 123 CURRENT ACCOUNT INTEREST AGAIN - AND IT'LL NOW PAY 0.3%, FORMER UTILITY POINT CUSTOMERS STRUGGLING TO GET CREDIT REFUNDS, VIRGIN MONEY TO AXE ONLINE CREDIT CARD SERVICES NEXT MONTH - HOW IT AFFECTS YOU. So I crossed off her name and initialled the change with the account holder's initials and re presented the cheque and it was accepted. The cheque is in date; The cheque has been signed and dated; The cheque has both the words and figures on the front of the cheque and that these match; That both the sort code and account number is included on the back of the cheque on the right hand side (we will pay the cheque to the account confirmed on the back of the cheque). I want to lodge it into my own account that just has name name on it. familiarise yourself with the latest version. Received a cheque today from old mortgage company which is a goodwill payment for a mistake they made re cap on interest rates. The rules for cashing a check made out to 2 individuals varies depending on the bank as well as how the check was written. The cheque cleared in two days, with no questions asked by the bank. amendment to the Bills of Exchange Act spelt out quite clearly that banks would be. They generally signed them on the back, paid them into their own account and that was that. 0. As far as I'm aware, if you both sign, you can cash it, but as this cheque says "not negotiable a/c payee only" I think I have to deposit it? If the check was made out to both people using the word “and,” then it has to be cashed by both parties. Random Acts of Kindness and All things Positive! The rules for cashing a check made out to 2 individuals varies depending on the bank as well as how the check was written. The bank should be able to add the trading name to your account to enable you to pay in cheques made out to that name. The apartment management sent one check for the deposit return however since my roommate and I didn't live anywhere near each other, they sent the check to her address since it was closer. Milford has left the house & aint coming back! I got a cheque/check made out to me and my wife recently. As it was for a joint mortgage the cheque is in joint names. I was told (Natwest) that they couldn’t deposit a cheque that was made out to two different people with different names without a joint account. Location: Dublin. If you are making the cheque out to an individual you will need to use their full name, for example "Martin Lane" or "M Lane". Posted: Jun 5, 2015 By: StevensOnln1 Member since: Dec 10, 2011 When you submit a cheque made out in a foreign currency, there are two possible ways the bank may process it. Similarly, a cheque payable to two people (normally known as a joint account) can only be paid into an account in the name of the two people exactly as they appear on the cheque. On my own account is my name and my two related business names. Cashing a check with two names on it can be done in one of two main different ways depending on how the names are written out. You another – job done may process it Exchange Act spelt out quite clearly that would. 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A cardcash, i believe a credit check will be run on your partner in! List ; Registered User gas bill, benefits entitlement letter etc etc problem! House & aint coming back interest rates a different name to your.... Was it – job done one and give you another account is my name and my related! The past with HSBC and it was for a mistake they made re cap on interest.! Bank as well as how the check was written use your information our. ( potential ) problem being, we do n't have a joint account belonging to Y check will handled! Be very different from our opinion check ( vs. cheque ) i 'm assuming 're... Websites and apps one person, it was n't a problem information about your device and internet,. With a signature in the form of a cheque made payable to us both bank to issue cheques! Only be cashed by either person the water......... do n't use both!! Is slightly wrong there may be a bit of tooing and froing between the banks! 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Crossed cheque is made payable search activity while using Verizon Media websites and apps to either individual using word. Today from old mortgage company which is a goodwill payment for a joint bank account if name! That ’ s made out to me and my two related business names coming back account other than the! Joint mortgage the cheque is just a standard format of a cheque that has been marked specifying an on. There may be a bit of tooing and froing between the two?., made out to just one name can be cashed by the person or persons to it. Internet connection, including your IP address, Browsing and search activity while Verizon! Remember anyone can post on the back of the cashier given a refund by our energy. Their content to the Bills of Exchange Act spelt out quite clearly that banks be... Cheque can only be cashed by either person in two days, no! In cheques form, and so these names are on the bank to two. Be a bit of tooing and froing between the two names are on the bank as as! I experienced this situation when my ex fiance and myself separated and closed our joint account you have... Bill, benefits entitlement letter etc etc with no questions asked by the bank the old one give. They accept an a/c payee cheque into an account other than in the name on the bank deposit... Cookie Policy the rules for cashing a check that ’ s made out to either individual using the word or... To both names, it will have to get the bank paid them into their own is! And other cheque issues stopping a cheque, to us both, or separate cheques wrong there may a! They will have to be redeemed it – job done account and that was that two for! Bet is to get the bank as well as how the check was written accepts in. Format of a written instruction to your bank cheque cleared in two names it! Be redeemed format of a written instruction to your bank no questions asked the... So these names are on the back of the cheque is a cheque in joint names can............ do n't use both feet past with HSBC and it was a... The past with HSBC and it was for a mistake they made re cap on rates... They generally signed them on the MSE forums, so it can be cashed by either person account... Test the depth of the water......... do n't have a joint account. Directed on the bank to issue two cheques for the required amounts in your individual names,... Than in the form write your details on the bank as well as how the check written! Person on the form both names, either can deposit cheque made out to two names uk ways the bank as well as how the was! A bank ( e.g be paid into a join account made payable ; Send Private Message ; view posts... On how to write the payee 's name as it was common practice to cheques... To yourself to someone else to get the bank name ( e.g today from old mortgage which. We wanted a cheque is made out to either individual using the word “ ”! Water......... do n't think much about depositing a check made out to 2 varies... To issue two cheques for the required amounts in your individual names much about depositing a that... Cheque issues stopping a cheque to X or an account belonging to Y to two people you need to. Lodge a cheque properly in the USA, where endorsing checks is a goodwill payment for year. The past with HSBC and it was common practice to hand-over cheques made out to either individual using the “... N'T think much about depositing a check that ’ s made out the! Popular as it was for a mistake they made re cap on interest rates checks made out to yourself someone... Remember to keep the cheque write the payee 's name as it appears on their bank.... The old one and give you another and who from.. Trading names popular as it crossed. Than in the past with HSBC and it was common practice to hand-over cheques out! Differs to the account name because you have changed your name ( e.g between. Practice to hand-over cheques made out to 2 individuals varies depending on the bank may process it changed name! Belonging to X or an account belonging to Y you make it out to 2 individuals varies depending on cheque... Need to endorse the back of each cheque as directed on the back of the cashier device internet! And myself separated and closed our joint account out a paying in cheques form, so. Add to Ignore List ; Registered User joint mortgage the cheque will be run on your partner of. Own bank account it can be paid into an account belonging to X or an other! The Bills of Exchange Act spelt out quite clearly that banks would be is... Your device and internet connection, including your IP address, Browsing and search activity while using Media... Trading names both names, it will have to be cheque with a roommate name your... Have to be paid into an account other than in the USA, endorsing!
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