[shenmecar]

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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[XplicitLuder]

I'm sure if he goes with you it won't be an issue. But if not then idk
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[Gridlock]

Yes, he can endorse it.

(Sign the back)

[MeetHanz]

He could also try going to the issuing bank (should say somewhere on the cheque) and just cash it himself.

[tool001]

Yes, he can endorse it.

(Sign the back)


done it tons of time... have em endorse it and get him a Bank ACCOUNT

[rawr]

Some banks don't take endorsed cheques anymore, depends on the institution and up to the branches discretion.
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[Fafine]

open a bank account, it takes like 20mins

[MelonBoy]

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)

[smaggs]

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.

[ilovebacon]

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?

[mr_chin]

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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[entrax]

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.

[tonyvu]

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.

[murd0c]

Hey can also take the cheque to a Money Mart type location and they will cash it for him and take a small fee.

[Gridlock]

My god...banks don't take endorsed checks anymore?

Fuck, they are getting to be worse than lawyers.

[entrax]

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.

[FerrariEnzo]

or you could go to those payday loan stores that cashes cheques.. they take a percentage.. not sure how much...

[drunkrussian]

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?

[entrax]

yeah, also remember when a certified check actually meant something?

they still mean something...most banks up to $10,000 lol. :thumbs:

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.

[jmanhas]

i know TD doesnet accept a cheque to be deposited into an account if the cheque doesnt match the name of the account

[shenmecar]

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!

[Drow]

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"

[entrax]

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 :D 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!

[Gridlock]

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. :)

[bloodmack]

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?

[Drow]

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. :)

:suspicious:

[noclue]

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. :)

I understand your sentiments but we are still in a recession and fraud goes way up so I don't mind if they do their due diligence regardless how long i've banked with them.

The only way for them to let their guard down is if you have $500k+ or a healthy cashflow in your business account. Then they treat you like king, you can call them to come to your house to do banking services if you want. Kinda like HSBC Premier. Downside is that they sell your info to advertisers and you get bombarded with amex/porsche brochures in the mail.

[Ronin]

Why on earth would you not have a bank account? I've had one since I was like 6. Been with Canada Trust since their logo with orange and I had a kid's account.

[ImpactZ]

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.

Government cheques do not have a stale date.

[.foxtrot.]

Government cheques do not have a stale date.


THIS. They wont go bad. The only trouble you might get with govt checks is that if you have a fishy account they make call the gov office to verify it or, tell you to come back when the office is open if you want funds ASAP!

[yray]

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. :)

LOL BMO customer service is retarded

One time I decided to pay credit card bill in cash because I also needed to help a relative pay her 65+BC bus pass. So I brought the CC bill and the bus pass bill to the teller and she gives me shit about not having a BMO chequing account and she won't be able to pay the bus pass bill. I was about to flip off so I read the back of the bill out loud that said "This bill can be paid at any financial institution in BC", I then asked " Are you not a financial institution?? :troll:" ; she got really pissed of and then she asks me for my mastercard to verify the account :fulloffuck:, what type of fraud can I pull off when I am paying two bills.

[falcon]

I dont understand why this thread has two pages. It should have ended after the 2nd post.

Yes, have him sign the back endorsing the cheque and deposit it. Done.

/end thread