What does it mean for a check to be indorsed “for deposit only”?
- Listed: August 10, 2022 11:22 am
- Expires: This ad has expired
Description
What does it mean for a check to be indorsed “for deposit only”?
If you write “for deposit only” on the back of a check made out to you and then sign your name, the check can only be deposited in your account.
This is called a “restrictive indorsement,” and it should prevent you or any other person from cashing the check. If you receive a check that was made out to someone else and that person endorsed it “for deposit only,” you should not be able to cash it.
40 total views, 1 today
Listing ID: 97162f394e409ef7
- Listed by: Editor
- Member Since: July 24, 2018
Other items listed by Editor
- How can I reduce the costs of my checking account?
- Are there any fees to use a payroll card?
- I sent money to a friend in a foreign country, but the amount received was less than what I sent. What can I do?
- Should I enroll in direct deposit?
- I am having problems with domestic or international wire transfers, remittances, or international money transfers. What can I do?