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#1563000 - 06/09/11 07:21 PM Virtual Endorsement
andrewf Offline
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Joined: Apr 2009
Posts: 4
If certain checks deposited through a Lockbox service are being returned by the drawee due to “Missing Endorsement” which I gather is for the payee, aren’t these items guaranteed by the bank of first deposit?
Also, in Check 21 is there such an endorsement as a ‘Virtual Endorsement?”
All advise is greatly appreciated.

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Deposits and Payments
#1563021 - 06/09/11 07:34 PM Re: Virtual Endorsement andrewf
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 83,426
Galveston, TX
If certain checks deposited through a Lockbox service are being returned by the drawee due to “Missing Endorsement” which I gather is for the payee, aren’t these items guaranteed by the bank of first deposit?

Yes

Also, in Check 21 is there such an endorsement as a ‘Virtual Endorsement?”

§ 3-416. TRANSFER WARRANTIES.
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