Lodging a Cheque

hillbloom

We have a cheque for over 5000e from An Post.  Withdrew Savings Bond.  Actually it was initially purchased when my child was born & it is HIS money. He needs it for college now. It is a joint account both names are on the Cheque. Will that cause problems when he goes to lodge it in his account in Bank of Ireland, even though I sign the back of it?  

Bank of Ireland: Sean

hillbloom wrote: »

We have a cheque for over 5000e from An Post.  Withdrew Savings Bond.  Actually it was initially purchased when my child was born & it is HIS money. He needs it for college now. It is a joint account both names are on the Cheque. Will that cause problems when he goes to lodge it in his account in Bank of Ireland, even though I sign the back of it?  

Hi hillbloom,

Once the cheque is not 'Account Payee only', both names can sign the back of it and then can be lodged to your sons account.  If the cheque is 'Account Payee only', it can only be lodged to a joint account held by the beneficiaries on the cheque.  

Thanks for contacting us through boards.

Seán