That's not enough. An indorsement is defined as including the signature of the holder. That signature can be in ink or pencil, typewritten or pre-printed. It can be a thumbprint or anything else that has been adopted by the holder as his/her/its signature and accepted by the transferee as a signature.
There are times that a drawer really wants the manual signature of the payee. Insurance companies, for instance, often require a manual signature as demonstrating that the payee was alive when the check was transferred.
A bank, as suggested above, is in a rather unique position of being able to supply its depositor's indorsement if necessary. But that's a "crutch" that a lot of people use as an excuse not to require customers to indorse (with a signature). If the customer's signature appears in the indorsement (rather than the bank's rubber stamp), it's easier to demonstrate that the payee received value.
Last edited by John Burnett; 11/20/02 07:15 PM.
_________________________
John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8