Technically, no, because there's an exception.
Yes, as to on-us checks.
No, as to Treasury checks if they are not deposited to an account of a payee of the check. Yes, if they are deposited to an account of a payee of the check.
_________________________
John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8