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Endorsement for Revocable Trust-"For Deposit Only"

Answered by: 
Randy Carey

Question: 
Would the check be properly endorsed? If a check is payable to John Smith and Mary Smith, Settlers and Trustees of The John and Mary Smith Revocable Living Trust, is it sufficient to endorse the check with "For Deposit Only" and an account number? There are no markings or stamps on the back of the check from the depositary bank.
Answer: 

That endorsement would be sufficient as long as it was deposited into a like-named account. The BOFD has provided you a warranty that this has happened and if it did not, you have recourse through the BOFD.

First published on BankersOnline.com 7/23/12

First published on 07/23/2012

Filed under: 
Operations
Filed under operations as: 
Endorsement
IT

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