A cashier's check is similar to a money order, but there's no limit on how much you can send. To deposit money into someone else's bank account, you can send a money order for amounts under $1,000, or a cashier's check for larger amounts. It's as simple as that. But then such an extreme case, would the bank stop someone from depositing checks? They will have to write something like “Pay to (your full name)” and then sign it on the back of the check. But yes, it is possible for someone else to deposit checks for you. googletag.pubads().enableSingleRequest(); Reply. Yes, you can endorse a check for someone else to deposit in any account, yours or his or some random person in the Middle East. You may be able to walk into a branch and deposit cash into someone else's account, but many banks are rejecting cash deposits to avoid fraud. The most basic way to move money into someone else's account is to walk into the bank and tell the teller you'd like to deposit cash. Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. Unless the other person is standing there with you. What you decide to do with your money is up to you. So yes, someone else can deposit your check in Well Fargo, US Bank, Bank of America, Chase, TD Bank, etc. $10 monthly service charge is also waived if any owner of the account … We are not going through probate as mom had no real assets (residing in CA - less than 150,000 in assets). I'm sure the teller broke a law doing this. moving money electronically from one banking institution to another, Why open a high-yield savings account now, with interest rates down, 7 reasons you may need life insurance, even if you think you don't, The best online high-yield savings accounts right now. Banks can say all they want "the don't allow it". Some banks are banning cash deposits into someone else's account, though. Another way to deposit a check with a payee other than you is in a third-party transaction. as well as other partner offers and accept our, Fee-only vs. commission financial advisor. What was the name of this horror/science fiction story involving orcas/killer whales? There is no other way to be certain. As I said, if I deposit a check to your account, it can bounce and the bank would charge you a fee. I was a teller manager in college- If the check is small and you have been a good customer for a long period of time an exception can be made. I am responsible for paying all the bills and then i give him money to spend. This does not influence whether we feature a financial product or service. @JoeTaxpayer: Did not think in these terms, some one would willing deposit a check for fun in my account so thay i get penalized for bounce charges. Select the option to complete the transfer. Sign up for Personal Finance. Legally speaking, as a general rule identification is not required to make a deposit. Your bank will let you know what to write. Which banks have cash-deposit machines in Germany? As long as you have the other person’s account information and all paperwork is filled out properly, you can make the deposit. If you can have someone who knows your account number come in to a Chase branch with the check - they'll be able to deposit it for you. All checks, especially government checks, are subject to scrutiny. My boyfriend and I have a joint account but without checks, and I have a single account bc i was working and it is where my unemployment now goes. You will … How to reveal a time limit without videogaming it? Why is it so hard to build crewed rockets/spacecraft able to reach escape velocity? Or you can walk into a bank and ask the teller to deposit the check into the person's account, as long as you have their full name and account number. Depositing a check, unless it's drawn on the same bank, runs the risk of a bounce. Whereas you can get a money order at a bank, the post office, or a convenience store, cashier's checks are only available at banks. The answer is ‘Yes’, someone else can deposit your checks. Explain for kids — Why isn't Northern Ireland demanding a stay/leave referendum like Scotland. You'll get a receipt, so if the deposit never goes through for some reason, you have proof of the money order. Choose an account both you and the other person share, if possible. I think you should ask the bank. There are no rules to prevent a payee from endorsing a U.S. Department of Treasury check and depositing it in someone else's account. If the checks were yours and were written to him, then that's no problem.. 1. Subscriber I hope I can change my client's mind into using wire tranfers or person-to-person quickpay, but before that happens, I've to find a easy way to get those checks deposited without being there in person. I'm currently out of US territory, someone needs to pay me, so he made a check to me, with my name and CHASE account number on it, of course. The bank will place a freeze on the account to prevent any further transactions from posting to the account. Can my significant other deposit a check made out to me? If this is the case for you, you might wonder if there are payroll deposit rules or direct deposit restrictions that prohibit you from depositing your paycheck into an account without your name on it. Typically, check holders sign a check when they want to cash the check, but a signature endorsement is not necessary for depositing a … Write a check. While you can’t just withdraw money from another person’s bank account, you can deposit money if the situation calls for it. Is it possible to cash a check made to someone else's name? Your bank's policies may vary. Why not? The best choice will depend on which institutions you each bank with, how much money you're sending, and how much you're willing to pay in fees. It only takes a minute to sign up. Re: Can you deposit a check in someone else's name in your account . My experience shows that not all banks follow all rules. However, the account owner can't just cash a check that belongs to another person. If your parents or anyone else has ever deposited money into one of your accounts, ask them if they made the unexpected deposit before contacting the bank. Edit - To know how your bank would handle, contact your bank. They simply don't care where the money comes from (assuming there is no fraud). Why do banks have daily deposit limits for check deposits with app? He choose to use my single acct to have his payroll deposited, i didnt and dont think that is allowable, so i had told him to just wait and get it by check. Pros and cons of different methods to transfer money from India to the U.S.? Tip. Print a conversion table for (un)signed bytes. Assuming your bank lets you deposit checks from home, then you will likely only need to prepare your check by endorsing the back. As I've answered in similar questions, banks may have their own rules, stricter or more lenient than the law suggests. Making a deposit does not require the bank to disclose anything and therefore does not jeopardize either your privacy or assets. But they MUST do it according to UCC. Deposit the check into a joint account as an alternative. It's best if you both go to your bank and he has a valid form of identification. I once had a tenant who often bounced checks on me, so I cashed them in person. The tellers did not know me and did not ask for identification. It seems as if it would be impossible to deposit a check into your own account if the check is made out to someone else. I once had a tenant who often bounced checks on me, so I cashed them in person. If someone deposits a check into your account without your permission, you must inform your bank that you have been the victim of fraud, especially if you have unknowingly removed funds from the account based upon that check. As a workaround, if you feel comfortable asking your client to do this, you could request the client email a close-up photo of the check to you, which you could print out and then deposit using the iPhone Chase app. Unfortunately, cashier's checks cost a little more than money orders, usually around $10. So, unless they know you, you can't deposit to someone else's account without their deposit or clear authorization. A wire transfer is a tool for sending money to someone who lives far away. Does not include fund transfers between Bank of the West accounts or any credits from Bank of the West. The best answer to whether anyone can deposit into your savings account is that it depends on your individual banking institution. The answer I got to this from Bank of America, from calling their help line, is that the proper way to do this is ordering a special endorsement stamp that has the account name, number, branch number, and "for deposit only", at a cost of $24. Also, if you open an account at a bank/credit union (e.g., Star One) that lets you upload a check photo or scan via the website, you could upload the emailed photo, wait for the deposit to clear, then inter-bank transfer it to your Chase account. (unknown) 2227. no you can sign the check over to him. Even if I cite a rule I know to be true, a dozen people can say their bank will do this for them. You can transfer money electronically through websites and apps such as Venmo, PayPal, and Zelle. When was the phrase "sufficiently smart compiler" first used? @Joe - the bounced check and the fee will be collected from the person who gave the bad check. When you buy a money order, you'll pay the small fee plus the amount you want to deposit. One of the easiest banking tasks in the world is depositing money. Stories, strategies, and tips for better personal finance. It can be especially useful if you don't have access to the recipient's bank. The bank will accept a deposit into the account regardless of who tries to do it. Call ahead to the branch and ask before you attempt it. There are plenty of times you'll need to give money to someone, but for one reason or another, you can't just hand them cash. So I deposited $10 and the $600 check was cashed for me. We do not give investment advice or encourage you to adopt a certain investment strategy. If a check was made out to my name instead of my business name, is there some way I can still deposit it into my business account? Many banks won't allow it because of fraud. Why would they really? How can I deposit a check made out to my business into my personal account? So, unless they know you, you can't deposit to someone else's account without their deposit or clear authorization. Many banks and credit unions also let you deposit joint checks through mobile apps or ATMs this way. Can there be democracy in a society that cannot count? Logically speaking, everyone's experience here is meaningless unless they bank at the branch you have in mind, this is a gray area, and it's worth dropping the dime. If the bank discovers the mistake before you do or before you notify them of the mistake, the bank will take back the money and put it in the correct account. How can we cash this check or deposit in to out account? How can I convince my bank to accept deposits without my signature? Before attempting to send a wire transfer, make sure your account and the recipient's account are both set up for wire transfers. Here are some of the most popular ones: One disadvantage to this method is that both people need to have an account with certain services, including PayPal and Venmo. Can I really not close a checking account if I have a year old outstanding check? Although fewer and fewer banks accept cash deposits into another person's account, many still accept check deposits. A leading-edge research firm focused on digital transformation. I have additionally had several people make deposits directly into my account without problem. The other answers below cannot confirm this either way, no one (including me) has cited a government banking regulation. We may receive a small commission from our partners, like American Express, but our reporting and recommendations are always independent and objective. However, it is their policy. In this case, you can deposit money into their bank account. 1 Deposits include direct deposit, mobile deposit, ATM deposit or in branch deposit of any amount. Bank policies vary from bank to bank. Because most banks have fraud-prevention measures that won't allow a direct deposit into an account bearing a different name. Depositing a check, unless it's drawn on the same bank, runs the risk of a bounce. @littleadv is correct, its not speculation as you can endorse the check, if its in your name, or just mark it for deposit only and as long as you are not cashing it or getting money back, it will go through. I recently opened a bank account and my dad wants me to deposit the check, Can I deposit my dads Check into my account or does he have to have his own account to deposit or cash it in? Can I Cash in someone elses Check into my bank account or deposit? Can I colorize hair particles based on the Emitters Shading? That individual can now endorse the check just as though it had been written out to them personally and deposit it in any account they like. How should I handle the problem of people entering others' e-mail addresses without annoying them with "verification" e-mails? In your question, the friend's name doesn't appear anywhere to the bank. To subscribe to this RSS feed, copy and paste this URL into your RSS reader. For example, one teller cashes my wife's check, but other one asks me for ID. In one case, it depends on whether you share an account with the actual payee. If you don't even know me, why would your bank subject you to that risk, by letting me deposit a check they don't know will clear? For instance, maybe you bank with a national bank but your friend banks with a local institution across the country. "So, unless they know you, you can't deposit to someone else's account without their deposit or clear authorization" - I'm not sure I understand this statement. technically they are all breaking the law by not doing so I've worked for three different banks. For example, you might pay the $200 you want to put into your friend's account, then a $2 fee for the money order itself. My dads Income Tax Refund just came but he doesnt have a bank account. Heck, let ANYONE deposit money in my account that wants to. Re: Can you deposit a check in someone else's name in your account . Locate the deposit option on your banking app. If you take action based on one of our recommendations, we get a small share of the revenue from our commerce partners. The case you mentioned can be handled by catch hold of person who wrote the check. Of course the bank just got bought by US Bank, so the rules may change. While paper checks are falling out of favor, you can still deposit a personal … googletag.enableServices(); On the back you just sign your name and then write "pay to the order of (insert boyfriend's name) and then he signs his name under that. It’s a simple process that has been around for decades, but in the age of online banking, it seems quite a few people might have forgotten how to do it the old school way.