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Deposit Crossed Cheque to Credit Union A/C

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  • 10-06-2010 6:00pm
    #1
    paddybag
    Registered Users Posts: 9 ✭


    Hi Guys,
    Just wondering, if i have a crossed Band Of Ireland cheque. Can I deposit this cheque into a Credit Union Account? The Credit Union account has the same Name as the cheque.

    Thanks


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


    Depends on the type of crossing.

    If its "A/c payee only" then it must go into an account bearing the name of the payee. This crossing can only be removed by the person whom wrote the chq.

    If its "And Co" or "Not Neg" then it is a general crossing, it may be lodged into someone elses account as long as its endorsed correctly.


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    #3
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,920 Admin ✭✭✭✭✭Toots


    If the CU account is the same as the name on the cheque, then you should be able to lodge it in no problem. If it's going into a joint account with yourself and someone else, you'll need to endorse the back before you lodge it.


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