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BOI refuses to lodge US dollar cheque unless I endorse it...

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  • 09-03-2011 9:01pm
    #1
    ixtlan
    Registered Users Posts: 1,209 ✭✭✭


    Before I go complaining to BOI, I just wanted to do a sanity check (no pun intended) to make sure I'm not missing something here.


    I recently received some dollar cheques from the US. 4 cheques totalling less than $50.

    They have an "endorse cheque here" slot at the back. My wife goes to BOI and tries to deposit them into my account. The bank teller says... no can't do... he hasn't signed them... My wife points out that they are made out to my name, and even have my address printed directly on the cheques, matching my BOI account... teller says no, they must be endorsed, end of story.

    Now, is this a case of a teller not knowing how cheques work? My understanding is that "endorsing", aka signing the back of the cheque, is for the purpose of passing the cheque to someone else, and if the cheque has my name and address then there is no point whatsoever to me signing it?! I mean, no one is going to compare my signature in case there are 2 people with the same name living at the same address?!

    Unless... the cheques will be returned to the US and they want proof of me accepting it? Maybe. This just annoyed me, and I thought I had lodged such cheques before without a signature, but it's a long time ago.

    Ix.


Comments

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    #2
    DAT64
    Registered Users Posts: 67 ✭✭DAT64


    Hey
    Unfortunetly not BOI decision or any other Irish bank.
    All US Dollar cheques need to be endorsed by the Payee prior to lodgement.
    So much red tape surrounds cheques these days, if they had taken your cheques for lodgement they would have been returned unpaid by US bank and you probably would have incurred a charge by your bank.
    Hope this helps.


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    #3
    Rebel1977
    Registered Users Posts: 802 ✭✭✭Rebel1977


    YOU have to sign the back of the cheque, if they are taken in and processed without being signed, they could come back unpaid from the US


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    #4
    ixtlan
    Registered Users Posts: 1,209 ✭✭✭ixtlan


    OK guys, thanks. I guess that's just the way it must be so.

    Ix


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    #5
    Aoife0102
    Closed Accounts Posts: 4 ✭Aoife0102


    All foreign cheques have to be endorsed on the back -

    FYI
    the endorsement has to be the same on the back as it is on the front.
    For all limited company cheques the authorised person has to write their job title also


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