A/C Payee Cheques?

hungryhippo

Hi was just wondering what the situation is with a cheque that is marked Account Payee Only? If the person to whom the cheque is made out endorses the back of the cheque can this then be deposited into another persons account? Just somebody asked me to cash a cheque for them as the banks are open funny hours last week and next and just wondering what the situation is?
It's not a life or death matter as i know the person well and would be quite happy to advance them the money without the cheque so just wondering whether i should take it off them or leave it with them and get the money back next week or whatever. Anyone working in a financial institution/with experience of this your help would be much appreciated. Thx.

Rabies

A bank will not lodge a cheque marked "account payee only" in to your account unless you are said payee.
Trust me, I have tried

RainyDay

Beware of mixing up friends & money.

vector

Well you could change your name by deed poll to match that of the cheque and open a bank a/c under that new name!

But seriously, subject to your legitimacy the desirable option would be to ask the drawee to cancel the cheque and issue a new one in your name.