Dealing with cheques as gifts

seamus

Decided I'd ask here, because no doubt a number of you have been through this.

We've received our first cheque made out to both of us (a draft actually). Am I right in thinking that this can only be lodged to a bank account containing both of our names?

I contacted the bank about adding a second name to my account, and I was told I'd need to go into my branch specifically with the usual documentation for the wife to be - driver's licence & a recent bill.

Also, the draft we've gotten has our two current names on it. My wife isn't taking my surname, but I've no doubt that some people will make cheques out to Mr & Mrs Seamus. Will the bank ask for a marriage cert so that we can register "both" of my OH's names on the account, or will they take it at face value?

kmick

No just lodge it. There will not be a problem. You should be lodging it to a joint account however in case your wife runs away with the pool boy in Jamaica. You cant be safe enough these days.

smelltheglove

You should both sign the back of it and then lodge it into the bank. I lodge cheques into my husbands account all the time. The only time there may be a problem is if the cheque is crossed.

seamus

Cool, thanks. I guess I can always just try to lodge it and they'll tell me if there's a problem and give it back to me.

Sizzler

She just needs to sign the back

iguana

Banks can actually be extremely fussy about this, so be prepared be unable to cash/lodge it.

seamus

So I'm better off going up to the desk with these than just throwing it in the quick lodge?

iguana

seamus wrote: »

So I'm better off going up to the desk with these than just throwing it in the quick lodge?

I'd recommend it to be on the safe side, or give your bank a call and find out what the policy is. I had to get a cheque re-issued with a name change last week for a very similar reason. Cheque issued in my married name when my bank account is in my own name.

I'm in England so different FSA codes apply so you might be luckier. But signing the back of the cheque was a no go as was having a marriage certificate or multiple ID's with my different surnames and the fact that my husband is a joint holder of the account.

smelltheglove

I use both permanent tsb and bank of ireland and never really a problem, have even lodged into an ulster bank where my husband also has an accoutn and the only time we were questioned by any was with a crossed cheque in the permanent tsb. I even lodged a crossed cheque into my husbands banl of ireland account, although i'd say this is only because i lodge there quite frequently. You should be fine really.

Redmen Rule OK

Can you not just ask the person giving you the cheque to change the payee? That will avoid any hassle at the bank plus you can hide it from your future spouse..........you never know when you might need it!

seamus

Redmen Rule OK wrote: »

Can you not just ask the person giving you the cheque to change the payee? That will avoid any hassle at the bank plus you can hide it from your future spouse..........you never know when you might need it!

Ah yes, no better way to start a marriage than with theft and deception.

It's not exactly a nice thing to have to do, to ask someone to reissue a cheque, particularly if it's a gift.

FWIW, I lodged a draft into BOI today that was made out to both of us, into my account. I imagine if it was made out to "Mr & Mrs Seamus", that might be a different deal, but I can't see anyone doing that.

My name is Mud

Im getting hitched in 2 weeks, and a relative has sent me a USD cheque, made out to Mr & Mrs Mud.

We setup a joint account recently, but that has her maiden name on it. So we have to come back when we are married, with the cert, so that the bank can change the name on the account and lodge the cheque.

Clareman

I just went to the counter with the cheques and cash and deposited them into the account, same as with drafts, nothing to worry about.

Personally, I can understand people giving cheques, it's safer and handier for a lot of people (ust write the cheque, put it in the card, job done, don't hav to worry about the card going missing), I can't understand people getting bank drafts, they are as safe as cash but you have to go to the trouble of getting to the bank and getting the draft, same goes for vouchers, but some people don't like giving money so that's their decision, those are almost as good as cash now

Toots

Well the thing is with a bank draft the money comes out of your account straight away, so some people find it easier to budget with a draft. If you give someone a cheque, the funds aren't debited from your account until the cheque is lodged or cashed so depending on when the couple get to the bank, it could be months. The giver might find it difficult to have to keep monitoring the account to see has the cheque come out and consistently make sure there's 'x' amount in the account all the time. Imagine giving someone a cheque for a wedding present and it bounced! Embarrassing!!!