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.
Last edited by John Burnett; 11/20/02 07:15 PM.
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.
John S. Burnett
Fighting for Compliance since 1976
Bankers' Threads User #8