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October 24
How to Audit Advertising - Compliance Issues Here, There, Everywhere!;
Patricia Cashman

October 29
Documenting an Applicant's Intent to be a Joint Applicant;
David Dickinson

November 4
Issues with Deceased Customers;
Mary Beth Guard and John Burnett

November 5
Vault Burglaries, Floods, Fires & Other Disasters;
Dave McGuinn

November 6
MLO v LO - Who Has to Do What?;
Jack Holzknecht and Mary Beth Guard

November 13
Domestic Violence & Workplace Violence: There Is A Link;
Shelly Collins and Dana Turner



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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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BSA/AML/CIP/OFAC
#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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