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Lodging cheque

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  • 03-03-2008 5:02am
    #1
    shayser
    Closed Accounts Posts: 1,650 ✭✭✭


    My wife received a large cheque from a solicitor. It's made out to her and is crossed. We want to lodge this into an account that is in my name only. Is there any problem or procedure for doing this, i.e., signing the back, her having to present herself to the bank in person, etc? Thanks.


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    #2
    unclebill98
    Registered Users Posts: 3,816 ✭✭✭unclebill98


    It can only go into an account that has her name on it. Be that a joint or sole account.

    It makes no diff is someone else does it, it just must follow the rules above.

    Does it say account payee only?


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    #3
    shayser
    Closed Accounts Posts: 1,650 ✭✭✭shayser


    unclebill98 wrote: »
    Does it say account payee only?
    I don't have it in front of me now but I seem to remember that it does. Would this further restrict the cheque?


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    #4
    unclebill98
    Registered Users Posts: 3,816 ✭✭✭unclebill98


    Well sometimes the crossing can say "and co". If it says "Account Payee Only" then your left with only being able to lodge it into the payee's account.


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    #5
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    As unclebill has said. If it becomes an issue, get your wife to open an a/c and then do a transfer to your a/c after the cheque has cleared.


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