Cheque made payable to two parties - Can either one cash it?

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suzyann

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Hi, My mum is due a cheque on a policy she took out a number of years ago - she also put my Dad's name on the policy - She has made all the premiums on the insurance policy . The cheque will be made payable to both parties . Can she lodge directly to her sole bank account - Does she need his signature on the bank of thecheque in order to get cashed ?
Thanks
 
With the bank i think it has to be a joint account. I got a refund from our solicitor last week the chq was in both our names we dont have a joint account so i lodged it into his credit union with both our signatures
 
ok thanks - will mean having to set a Joint account up - may try the credit union account approach as outlined by Ann-marie first
 
shilling said:
If the cheque is payable to joint names it must be paid into a joint account.
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Not my experience - I've lodged two cheques (for significant amounts) in both our names to my personal current account without the Other Half's signature. At most, if it's paid to both names, it might be advisable to have the back of the cheque endorsed by both parties in paying it in to whichever account you choose, but I'd be surprised if the OP's mum has any difficulty lodging the cheque.
 
When we got married we got lots of cheques made out to both of us but had no joint account. I had no trouble lodging them to my own account, just got hubby to sign them on the back.
 
No trouble here lodging joint cheque to PTSB account in one name only. Other party signed the back of the cheque
 
Ditto for me, lodged it to my PTSB account with signature of other party on the back.
 
If the cheque is crossed "a/c payee only", it really has to go into joint account. Also, if the cheque is for a large amount a bank will probably insist on it being lodged to joint account and won't just accept an endorsement from one party and then lodging it into sole account of the other.
 
Bizarrely, with BOI you can't lodge a cheque made out to your partner into your joint account. They have to do it.
 
I tried to lodge a substantial cheque yesterday to my own account that was in both myself and my brothers joint names and that had a/c payee written on it. I went to one Bank of Ireland and stupidly asked at the counter if it would be a problem. I was told that because it had a/c payee on it, then it had to be lodged to a joint account. I then drove to another bank of Ireland a few miles away, went to the counter, said nothing and the cheque was cashed no problem. So if you're not happy with the first answer, then try a different branch!
 
There is no law in Ireland that says it must be paid into a joint account.
The banks have made up their own rules and unfortunately impose them at will.
 
WizardDr said:
There is no law in Ireland that says it must be paid into a joint account.
The banks have made up their own rules and unfortunately impose them at will.
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The check may be crossed, if it is there is a legal responsibility on the Bank to ensure that the payee(s) get these funds otherwise if a complaint arises then there is full recourse to the Bank that encashed the cheque incorrectly, I think it is covered in the Cheques act under collections but am open to correction.
 
Just found myself in a similar situation. If a cheque is made out to myself and a sibling can I lodge it to my current account once my siblings signature is on the back?
 
Yes, and if it is under 10k and lodged at a machine as opposed to over the counter, it's quite likely the bank won't even notice who it was made out to as they don't check low value items
 
Peanuts20 said:
Yes, and if it is under 10k and lodged at a machine as opposed to over the counter, it's quite likely the bank won't even notice who it was made out to as they don't check low value items
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That wasn't my experience with AIB. Lodged the cheque through machine but got a phone call that evening confirming that I was to call back and collect the cheque the next day and relodge to a joint account between the people named on the cheque. The cheque was not for a large amount. They check the cheques lodged at the end of the day.
 
If a cheque payable to one person can be endorsed by that person and lodged by another (and it can) then I would expect that a cheque payable to joint parties could be endorsed by one and lodged by the other?
 
Sue Ellen said:
That wasn't my experience with AIB. Lodged the cheque through machine but got a phone call that evening confirming that I was to call back and collect the cheque the next day and relodge to a joint account between the people named on the cheque. The cheque was not for a large amount. They check the cheques lodged at the end of the day.
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I've done it at both AIB and BoI with never an issue in the recent past.
 
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