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Two lines &co on kids cheque

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  • 07-06-2021 7:02pm
    #1
    polydactyl
    Registered Users Posts: 853 ✭✭✭


    Both my kids got a cheque today and there are two lines with &co written on both. I understand this means it must go directly into a bank account and not be cashed as an added security measure. It does NOT say AC payee only.

    However can these go into my account so I can then transfer it to their savings.....all accounts are in my name however.


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    #2
    Ally Dick
    Registered Users Posts: 12,697 ✭✭✭✭Ally Dick


    polydactyl wrote: »
    Both my kids got a cheque today and there are two lines with &co written on both. I understand this means it must go directly into a bank account and not be cashed as an added security measure. It does NOT say AC payee only.

    However can these go into my account so I can then transfer it to their savings.....all accounts are in my name however.
    Legally that crossing is the same as when you add the A/C Payee Only bit. Some branches will return it unpaid if they spot it


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    #3
    Bank of Ireland Reps
    Closed Accounts Posts: 1,293 ✭✭✭Bank of Ireland Reps


    polydactyl wrote: »
    Both my kids got a cheque today and there are two lines with &co written on both. I understand this means it must go directly into a bank account and not be cashed as an added security measure. It does NOT say AC payee only.

    However can these go into my account so I can then transfer it to their savings.....all accounts are in my name however.
    Thanks polydactyl for taking the time to get in touch. 

    Yes, you can lodge these to your own account if they're are crossed with & co.

    They will need to be endorsed with the childrens names written on the back of the cheque. If your children are too young to write their name on the back, you can do this for them.  

    Hoping the above helps, 

    Many thanks
    Alison


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