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Check Payable to Business and Individual
Answer by Ken Golliher, BOL Guru
Guru Bio

Question:   A customer wants to cash a check payable to himself and a business. What is the rule on this?

Answer:   Whether a check is payable to John Doe and Bob Smith or John Doe and Alliant Inc. the rule is the same, two signatures are required. If you accept the check with only one endorsement, your bank guarantees the missing endorsement; i.e. you promise that the other payee got the money. If it did not, your bank is liable.

Your methods for verifying the endorsement of a business entity that does not bank with you are virtually non existent. I suggest you send the customer to the business entity and they can craft a solution together, one that probably involves the business entity's bank, not yours. The business entity's bank is in a position to verify your customer's signature.

First published on 1/17/11

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