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Vancouver Off-Topic / Current Events The off-topic forum for Vancouver, funnies, non-auto centered discussions, WORK SAFE. While the rules are more relaxed here, there are still rules. Please refer to sticky thread in this forum.

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Old 01-09-2013, 09:33 PM   #1
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deposit someone else's cheque

my brother had a job during the winter break and got paid with a cheque. he doesnt have a bank account but he wants to cash it in. can i deposit it in my own account if the cheque is addressed to my brother?
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Old 01-09-2013, 09:33 PM   #2
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I'm sure if he goes with you it won't be an issue. But if not then idk
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Old 01-09-2013, 09:39 PM   #3
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Yes, he can endorse it.

(Sign the back)
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Old 01-09-2013, 09:58 PM   #4
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He could also try going to the issuing bank (should say somewhere on the cheque) and just cash it himself.
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Old 01-09-2013, 09:59 PM   #5
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Yes, he can endorse it.

(Sign the back)

done it tons of time... have em endorse it and get him a Bank ACCOUNT
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Old 01-09-2013, 10:15 PM   #6
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Some banks don't take endorsed cheques anymore, depends on the institution and up to the branches discretion.
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Old 01-09-2013, 10:20 PM   #7
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open a bank account, it takes like 20mins
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Old 01-09-2013, 11:23 PM   #8
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Some banks will allow you to endorse it.. It depends on each branch but try one outside of downtown. The more fraud that occurs in a certain area the higher the chance of them not accepting it. (aka downtown is high fraud compare to a branch in kits)

But as other said before.. opening an account takes 15-20mins! If your brother wont be using it much and he doesnt want to pay fees. Just open a "everyday savings account" those are free and you usually get 1-2 free transactions a month (cash withdraws)
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Old 01-09-2013, 11:31 PM   #9
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Most banks don`t allow 3rd party endorsed cheques anymore. Like someone else said, he can just go and cash it at the bank it was issued from as long as he has a couple pieces of appropriate ID.

Probably in his best interest to open an account somewhere though to make life easier. I think most institutions offer some sort of free account now.
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Old 01-10-2013, 01:12 AM   #10
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i have a check that was marked down 2011 from a part time job. i thought i lost it but i found it now. i got the check from helping someone mow the lawn of his and i dont think he lives at the same place. will i still be able to get he cash deposite?
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Old 01-10-2013, 01:23 AM   #11
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open a bank account, it takes like 20mins
These advice gets annoying after a while. I'm sure there is a personal reason he's not getting a bank account
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Old 01-10-2013, 01:30 AM   #12
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i have a check that was marked down 2011 from a part time job. i thought i lost it but i found it now. i got the check from helping someone mow the lawn of his and i dont think he lives at the same place. will i still be able to get he cash deposite?
cheques expire after 6 months, 1 year if govt of canada cheques.

to OP, like most people have said, he can endorse the cheque but he HAS to also be there, give two pieces of ID. basically the teller needs to verify that the endorsement is from the right person before the teller would want to get their stamp (and their responsibility) on it. after that, you take ownership of the cheque, and is responsible if the cheque bounces or is in any other way not cleared, not your brother anymore.

alternatively, if your teller refuses 3rd party endorsed cheques, he can sign the endorsement on the cheque, and you toss it into the machine as if you're depositing your own. if it takes 5 business days to clear, so be it, but this used to be something done on a regular basis back when cheques were more common.
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Old 01-10-2013, 02:47 AM   #13
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he can endorse the cheque to you... but he should open his own bank account.. it doesnt take to long to set up i'm sure.
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Old 01-10-2013, 08:03 AM   #14
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Hey can also take the cheque to a Money Mart type location and they will cash it for him and take a small fee.
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Old 01-10-2013, 08:19 AM   #15
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My god...banks don't take endorsed checks anymore?

Fuck, they are getting to be worse than lawyers.
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Old 01-10-2013, 11:50 AM   #16
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My god...banks don't take endorsed checks anymore?

Fuck, they are getting to be worse than lawyers.
banks prefer not to, but they have to allow it somehow. i'm not sure which banks do not allow this.
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Old 01-10-2013, 01:27 PM   #17
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or you could go to those payday loan stores that cashes cheques.. they take a percentage.. not sure how much...
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Old 01-10-2013, 01:29 PM   #18
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My god...banks don't take endorsed checks anymore?

Fuck, they are getting to be worse than lawyers.
yeah, also remember when a certified check actually meant something?
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Old 01-10-2013, 01:43 PM   #19
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yeah, also remember when a certified check actually meant something?
they still mean something...most banks up to $10,000 lol.

asides from that, with a certified chq/money order/draft banks not cleared due to being more than $10,000, the payee's bank can verify funds through fax/calling the branch it's certified/drawn on (because the money is on the cheque).

you can't do this with a regular cheque because the bank the cheque is drawn on does not have the authority to say anything about the cheque whether it's a good one or not because the money is on the person's account, not on the cheque.
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Old 01-10-2013, 02:50 PM   #20
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i know TD doesnet accept a cheque to be deposited into an account if the cheque doesnt match the name of the account
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Old 01-10-2013, 02:54 PM   #21
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Just deposited it with my brother at an RBC branch. Its not as simple as endorsing it by signing the back. The person the cheque is addressed to need to bring 2 pieces of ID and then sign it at the branch in front of the teller. Otherwise they won't accept it.

Thanks RS!
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Old 01-10-2013, 03:00 PM   #22
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Quote:
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My god...banks don't take endorsed checks anymore?

Fuck, they are getting to be worse than lawyers.
why should they take endorsed cheques?

if the payee does not bank with the same institution as the person trying to deposit the endorsed cheque, the bank has no way to verify whether or not that signature is signed by the actual payee themselves.

anyone could sign the cheque then claim its "endorsed"
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Old 01-11-2013, 12:24 AM   #23
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Just deposited it with my brother at an RBC branch. Its not as simple as endorsing it by signing the back. The person the cheque is addressed to need to bring 2 pieces of ID and then sign it at the branch in front of the teller. Otherwise they won't accept it.

Thanks RS!
told ya @ 2 piece of id and needing to be there that's the only way to verify the third party without the account! now just hope his cheque doesn't bounce, or else your account takes a hit!
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Old 01-11-2013, 09:33 AM   #24
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why should they take endorsed cheques?

if the payee does not bank with the same institution as the person trying to deposit the endorsed cheque, the bank has no way to verify whether or not that signature is signed by the actual payee themselves.

anyone could sign the cheque then claim its "endorsed"
Yeah, I get it. We deal with about 80 or so checks a month. Usually its just a straight deposit, move on with your life kind of thing.

I just get annoyed with companies treating their customers like criminals.

It USED to be that as 'I' was a good, long-term customer then you would have no problem because 'I' was the one putting it through my account. You know me, so you should have some faith in me.

I had problems with BMO regarding checks for my business account. We only had a small BMO where I grew up. Mom banked there. Dad banked there. Hell, everyone banked there. So when its time for me to get an account, it got set up there. Then I need a checking account, so off to BMO I go. Then, years later, life changes, and I need a business account. Off to BMO I go.

And I get told, "there will be a hold on your checks for 5 days"...you are kidding me, right? I've been a customer since I was 12. Did not matter. I had my client that I was working for pay me in a couple smaller checks to up the volume but still had to get in a fight with the manager to get the hold lifted.

Insane. It was...insane. I'm still bitter about BMO, even though I get treated like a fucking rock star now...there must be notes on file that I get angry when I'm told no.
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Old 01-11-2013, 05:13 PM   #25
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My god...banks don't take endorsed checks anymore?

Fuck, they are getting to be worse than lawyers.
money is srs business. didn't you know?
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