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March 24, 2015
Maze of Debit Card Compliance
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Building a BSA Training Program
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April 8, 2015
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#922469 - 03/13/08 04:34 PM JT TEN on checks
sstevenson Offline
New Poster

Registered: 12/13/07
Posts: 14
I have never seen the abbreviation JT TEN on a check after after the names of multiple payees. What exactly does this abbreviations stand for and does it mean that only one of the payee has to negotiate the check?

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#922494 - 03/13/08 04:57 PM Re: JT TEN on checks [Re: sstevenson]
Dallas Fan Offline
100 Club

Registered: 02/22/08
Posts: 218
Loc: RIC
JT TEN stands for Joint Tenants. If the check is being deposited into an account owned by both payees and they both have equal access to the account then no endorsement is required. A stamp FOR DEPOSIT will suffice.

If however, one of the payees is trying to deposit into his/her own personal account then both signatures would be required.

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