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Lodging a cheque in someone elses name to my account

  • 07-06-2005 8:22am
    #1
    AARRRGH
    Closed Accounts Posts: 12,382 ✭✭✭✭


    Hello,

    I want to lodge a friends cheque into my account. I'm not sure how I do this. Do I get them to write their name on the back of the cheque, or do I write my name on the back of the cheque?

    Also, the cheque has two lines (with no text between the lines) across the text on the cheque. Does this mean it is crossed?

    Any help appreciated.

    Thank you.


Comments

  • #2
    ButtermilkJack
    Registered Users, Registered Users 2 Posts: 632 ✭✭✭ButtermilkJack


    Hey, as far as I know the two lines mean it is crossed. This means only the named person can lodge/cash the cheque. If it wasn't crossed, I think your friend could sign the back and you could then cash it in at a bank (rather than lodge it direct to your account).

    Not too sure on this - but I'd give them a call first to save you a trip!


  • #3
    dahamsta
    Banned (with Prison Access) Posts: 16,659 ✭✭✭✭dahamsta


    AFAIK the lines are just printed there for convenience, you need to write something between them to "activate" the protections. Been a while since I did business studies, but here's a few Google results that might help out a little:

    http://www.google.ie/search?hl=en&safe=off&q=cheques+crossed+negotiable+transferable+payee+co

    adam


  • #4
    Victor
    Registered Users, Registered Users 2 Posts: 78,574 ✭✭✭✭Victor


    If it is going through an account it shouldn't really be a problem.


  • #5
    Sparky
    Registered Users, Registered Users 2 Posts: 22,231 ✭✭✭✭Sparky


    if its signed on the back of the cheque by the person who signes the cheque it can be lodged to any account, but if its crossed with writing in the middle it means its for the person the cheque is written for, this similar thing happened to me where my mam used my BOI lodgement book by accident and lodged a cheque of €10,000 to my account, when i found out and told her she said thats why i was wondering why the lady asked me to sign the back of the cheque.


  • #6
    nlgbbbblth
    Closed Accounts Posts: 5,668 ✭✭✭nlgbbbblth


    not many people know the Cheques Act 1959 but

    1 two lines is a crossing
    2 '& co' is a crossing
    3 'account payee only' is a crossing
    4 'not negotiable' is a crossing

    cheques with 1,2 and 3 are endorsable. That means the payee can sign the reverse of the cheque and it can be lodged to a third party's account. Yes, even if it says 'account payee only' - as the third party is now the payee once the cheque has been endorsed.
    It also means that the bank has full protection should be cheque be returned unpaid.

    However if the crossing is 4 then the cheque cannot be negotiated by anyone else other than the payee. If it is negotiated then the bank are guilty of negligence and haven't a leg to stand on if something goes wrong,


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