two names on cheque but no joint account

Also we don't have a jointly bank account. Saving . converting a personal account held in one name to a joint account held by two or more people; This information will help you understand the risks and benefits of joint accounts. Login/cookie issues? 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. You probably will have to endorse the check and get the other party to endorse it, too. Clay Wilson Clay Wilson. Multiple Names in Cheque 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. There are no bank rules regarding the formatting of names and addresses on checks for a joint account. Normally bankers will never accept such cheques and the payees cannot question the legal sanctity of the cheque with the banker. However, some businesses will only accept checks with a preprinted name and address. Compare joint accounts. Link Removal I'm on her account, but her checks don't have my name on them. Our Smart Access account can come with two Debit Mastercards – one for each of you. (2 different names) Will they have a problem cashing this if they don't have a joint account. You will need to either, open a joint account (in the names on the cheque), get the drawer to issue a new cheque or make an electronic payment into the account of your choice. http://www.askaboutmoney.com/showthread.php?t=46866. Try the automated pay in system at the cashpoint. With a joint account you will both have: Your own individual debit cards. In the third case it could go either way (I've been able to cash checks written like that into my individual account, but your mileage may vary). The information must be clear, simple and not misleading. It is a joint account with my wife. 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. 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). Know exactly how much money is in your account, what’s going out and when. 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. Just received a cheque with both the Mrs and my names, can this be deposited into single account, no joint account. converting a personal account held in one name to a joint account held by two or more people; This information will help you understand the risks and benefits of joint accounts. My OH has just had the same problem with a cheque that was in joint names for him and his ex wife. Addition or Deletion of name(s) of Joint account holder(s) You can request the bank to add a new joint account holder or delete any of the existing joint account holder’s names. Access to view your account via the App and Online Banking; Use of any benefits and features that come with the account. Also, you and the other person may have to go to the bank … ; Transaction Notifications: Turn them on to receive an instant alert when you pay from, or get paid to, your joint everyday account. Bank refused to accept as it was crossed and we don't have a joint account. What matters is the way the check is drawn. It's called conversion if you pay a cheque into an account other than that which it's payable to and the bank would be liable under current money laundering regulations too. Pros and cons of having a joint account. Make it out to one person only. See the highlighted part of – Clause No.6. Do remember this point. The topic ‘Depositing a cheque with two names into single account’ is closed to new replies. Everyone named on the account has equal access to the money and can use the funds however they see fit. You will need to either, open a joint account (in the names on the cheque), get the drawer to issue a new cheque or make an electronic payment into the account of your choice. Contact Us A joint account is a bank account that has been opened by two or more individuals or entities. Not my experience - I've lodged two cheques (for significant amounts) in both our names to my personal current account without the Other Half's signature. It's in my maiden name/payable to two people . I’ve paid them into my account with both names on with no issues before. The easiest way to find the best joint account for you is to use MoneySuperMarket to compare different accounts with different providers. The payee on a cheque must match the name on the account. Took one to the TSB the other day and was told I need to either open a joint account or send it back. Pros and cons of having a joint account. Joint accounts are commonly opened by close relatives (such as by a married couple) or by business partners, but it can be used in other circumstances, such as by a club committee. I am not a lawyer. joint-account. So a real estate company is playing funny games with me. Whilst giving them both equal access to the account. I just had a cheque issued in my name and my wife's name. When I worked in a bank they only checked vouchers over quite a large amount, but the volumes are considerably lower these days ! Everyone named on the account is able to pay money in or take it out – although sometimes more than one person needs to agree to this. The type you choose depends on who you're sharing the account with and your goal. The Supreme Court has held that a joint account holder cannot be prosecuted in a cheque bounce case unless the cheque has been signed by each and every person of such account. previously it was possible to pay such cheque into a single named account as long as you were one of the joint named, and the other joint named authorised the transaction (usually by signing the back of the cheque and writing something like 'I allow my wife to have these funds and will not have access to them'). Posted 6 years ago ANNALH 4 Posted July 13, 2006. Both account holders get a Visa debit card and separately set up and manage Internet Banking. The easiest way to find the best joint account for you is to use MoneySuperMarket to compare different accounts with different providers. 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. Newsletter Settings, Cut off date for issue 135 of Singletrack is the 25th January - You need to join us by this date in order to receive the next issue. When I went cash the check, my bank said that my spouse need to be present before I can cash the check. No fees to open or use your account. 5. As above, we used to get cheques from the inlaws this way, wife used to frog march me to her bank, where i would then sign the back and never see a penny. I think one of you can counter-sign it across to the other ? Otherwise, any party named on the check … Premier Club 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? However, a joint account is not required to cash a check that has been made out to you and another person. Long story short, me and my ex made plans to move in together in the state of New York. But, all the existing account holders have to sign on the request form if the mode of operation is “either or survivor” or “jointly“. The company advised him he would have to get his ex wife to sign a letter saying she had no claim … Please correct me if I am wrong. Making it easy to shop, pay bills, withdraw cash and transfer money to and from your linked savings account at an ATM plus more. Joint accounts are mostly used by: married couples, civil partners and couples who live together; housemates who have shared expenses – like rent and bills. Any debt that has been taken out on a joint account and in a joint name, will automatically be the responsibility of the person left on the joint account. Depositing a check with two names, but no 'And' or 'Or' or even a 'pay to the order of'. Might take a bit longer to clear, depends if they notice. I amended my 2016 tax return to married filing jointly and the refund check is issued with both spouse name on it. The people sending it you were presumtious in putting both names on. Forum Rules Access to view your account via the App and Online Banking; Use of any benefits and features that come with the account. In the second case you will have to deposit in a joint account OR bring the other person with you to the bank and have them show their ID to the cashier and endorse the check in their presence.
two names on cheque but no joint account 2021