Cashing cheque with two names on it.

Discussion in 'Banking, credit cards, etc' started by Bronte, May 23, 2007.

  1. 10to1

    10to1 Frequent Poster

    Messages:
    128
    Re: Cashing check with two names on it.

    Make it out to one person only. I got a cheque/check made out to me and my wife recently. Bank refused to accept as it was crossed and we don't have a joint account. So I crossed off her name and initialled the change with the account holder's initials and re presented the cheque and it was accepted.
     
    Last edited: Jun 9, 2009
  2. Hybrid Boss

    Hybrid Boss Frequent Poster

    Messages:
    36
    Re: Cashing check with two names on it.

    Wow must be a huge amount if you wrote a cheque come on tell us how much was it?
     
  3. 10to1

    10to1 Frequent Poster

    Messages:
    128
    Re: Cashing check with two names on it.

    a paltry sum actually. Naturally I told my wife and as the issuer was my father I also told him I was doing likewise.
     
  4. Lilly2099

    Lilly2099 Frequent Poster

    Messages:
    98
    Re: Cashing check with two names on it.

    I had a cheque like this made out in two names to myself and my boyfriend. AIB would not let me lodge it to my account under any circumstance, however my boyfriend was able to lodge it to his Ulster Bank account with my name signed on the back no questions asked??!
     
  5. Gulliver

    Gulliver Frequent Poster

    Messages:
    484
    Need to clarify a few things here.

    1...There is no legislation, rule or formal agreement among banks with regard to encashment of cheques in any circumstance. A bank is free to make its own rules, and/or to use its discretion in regard to encashment. In fact, the number of cheques cashed is small and is dropping rapidly.
    2... To Parklane, endorsing a cheque can indeed transfer the ownership of the cheque, but there is no obligation on a bank to accept the cheque for payment into any other account other than that of the named payee. So the new owner may find that he owns a cheque which is in practical terms not negotiable
    3...To Bronte - a cheque made out to an inanimate payee (cash, bearer, etc.) is a valid cheque, but again, there is no obligation on a bank to accept it. Some will not.

    There is no legislation relating to cheques in Ireland in the 20th or 21st century (apart from a purely technical piece in 1959) and there is unlikely to be any in the future. The EU Payment Services Directive, which will have legal status in Ireland from Nov 2009 covers every other form of payment. Cheques are specifically excluded as they are considered to have passed their useful life and will be withdrawn soon.
     
  6. Mpsox

    Mpsox Frequent Poster

    Messages:
    1,616
    No they won't. IPSO has publically set a date of 2016 for the demise of the cheque, privately they admit that there will still be a significant rump of paper left for the banks to process.
     
  7. natkretep

    natkretep Guest

    I just had a cheque issued in my name and my wife's name. (I'm in Singapore.) After queuing up for half an hour, the person told me I had to have a joint account. Will have to go and open a joint account for the sake of the cheque.