Click to return to BOL home page
Banker Store Read A Reg BOL Insiders Career Connect Learning Connect Bankers Information Network

   

















    Site Map

    Our Sponsors

    Home















Compliance Gurus
Lending Gurus
Security Gurus
Marketing Gurus
Technology Gurus
eBanking Gurus

Print Friendly! Email This Article! Discuss NOW!



What Does "Endorsement Cancelled" Mean?
Answer by John Burnett, BOL Guru
Guru BIOS

Question: We received a check back as a return stamped "endorsement cancelled". What that mean? Is it the same as a stop payment?

Answer: No. Not at all. It's a holdover from ancient banking practice (ten years ago?). The bank that endorsed the item on the way to the payor bank is notifying the world that they don't want their endorsement to be used against them if the check bounces later.

First published on BankersOnline.com 03/15/04



Home | Compliance | Lending | Operations | Security | Marketing | Technology | eBanking
BOL Archives    Privacy Policy    Important Disclaimer   Recommend This Site !   Contact Us


BankersOnline is a free service made possible by the generous support of our advertisers and sponsors. Advertisers and sponsors are not responsible for site content. Please help us keep BankersOnline FREE to all banking professionals. Support our advertisers and sponsors by clicking through to learn more about their products and services.