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#2100886 - 09/28/16 09:09 PM For Deposit Only Endorsement Deposits
Tabbetha, CRCM Offline
Junior Member
Joined: Feb 2009
Posts: 47
Biloxi, Mississippi
A customer has two checks to deposit in their joint account, one is stamped 'for deposit only' and the other is not. The customer wants cash back from the deposit. Since the second check is endorsed and is not stamped, is it permissible to give cash back and have the customer sign the front of the deposit ticket for receiving the cash back?
Last edited by Tabbetha, CRCM; 09/28/16 09:11 PM.
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#2100921 - 09/29/16 09:45 AM Re: For Deposit Only Endorsement Deposits Tabbetha, CRCM
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 79,633
Galveston, TX
Why don't you just ask them to endorse the check?
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#2100931 - 09/29/16 11:57 AM Re: For Deposit Only Endorsement Deposits Tabbetha, CRCM
osucpa Offline
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Joined: May 2011
Posts: 1,402
On the second check what type of endorsement was it?

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#2100971 - 09/29/16 02:52 PM Re: For Deposit Only Endorsement Deposits Tabbetha, CRCM
Tabbetha, CRCM Offline
Junior Member
Joined: Feb 2009
Posts: 47
Biloxi, Mississippi
The first check is payable to the husband and was stamped "for deposit only". The second check was payable to the wife, who was there making the deposit to their joint account. She wanted cash back which did not exceed the amount of her check. Her check was endorsed by her.

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#2100988 - 09/29/16 03:22 PM Re: For Deposit Only Endorsement Deposits Tabbetha, CRCM
happyauditor Offline
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happyauditor
Joined: Nov 2004
Posts: 809
NY
Seems perfectly fine to me.
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#2101026 - 09/29/16 05:06 PM Re: For Deposit Only Endorsement Deposits Tabbetha, CRCM
Bottle Caps Offline
New Poster
Joined: Jan 2016
Posts: 10
That seems OK to me, just have her endorse the back of the check that she is getting the cash from. smile
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#2101074 - 09/29/16 07:33 PM Re: For Deposit Only Endorsement Deposits Tabbetha, CRCM
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 39,684
Cape Cod
Have her sign the acknowledgment of receipt of the cash back on the deposit ticket. The check payable to the husband is technically not indorsed, but you don't need an indorsement to take it for deposit since it's going into his (joint) account. UCC 4-205
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#2101112 - 09/29/16 10:05 PM Re: For Deposit Only Endorsement Deposits Tabbetha, CRCM
RockChucker, CAMS Offline
Diamond Poster
Joined: Jul 2013
Posts: 1,657
The Country
As mentioned, the stamp for deposit only is not an endorsement it is a restriction.
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