Wednesday, August 5, 2009

When I deposit cheques into my business bank account what am I obligated to do on the back of the cheque?

My business is small and I am personally responsible. I always thought by endorsing the back with my signature that was all that was needed. Is it the bank or my responsibility to put my account number on it?
When I deposit cheques into my business bank account what am I obligated to do on the back of the cheque?
It is your responsiblity if you want it applied to the correct account. You should put the following on your checks for deposit


FOR DEPOSIT ONLY


ACCOUNT #


SIGN YOUR NAME





This will ensure that no one can cash your check and that it can


only be deposited in your account
Reply:It's a suggestion to be sure the check goes in the right account. All you have to do is sign the back. Report Abuse

Reply:Well where I work we stamp it with Deposit only - Company Name (In your case it would be your signature) - Bank Name - Account number. If I were you I would do the same. You should definitely put your account number on the back. That way it will get into the right account! Don't trust the bank to do it for you. They have some idiots working there sometimes you know!
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