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Paying a cheque into someone else's account
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# 1
Crabman
Old 29-10-2009, 12:41 AM
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Default Paying a cheque into someone else's account

Hi folks

Quick question on behalf of someone - is it still possible to endorse/countersign a cheque and have it paid into someone else's account?

The situation is a cheque has been made out to someone without a bank account. They would like to pay it into their daughter's bank account.

With the current postal issues they asked if I knew whether it was possible without having to send the cheque back and have it reissued. Taking the cheque to a "We Cash Cheques" shop isn't viable as they say the commission charge is quite high.

Any advice would be appreciated, thanks!
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# 2
noh
Old 29-10-2009, 1:08 AM
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If the cheque is crossed "Account Payee Only",which it will be, it can only be paid into an account in the payees name.

The cheque cannot be endorsed and cannot be paid into anyone elses account.

Has the person really not got any accounts not even a savings account?
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# 3
lectureral
Old 29-10-2009, 1:12 PM
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Yes - nowadays all (I think) normal personal cheques are stamped "Account Payee Only" - I can remember a time when it was not so - I think it changed in the late 80s - and remember signing cheques on the back to pay them into someone else's account. I also used to write 'a/c payee only' on all my own cheques. Happy days...
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# 4
CLAPTON
Old 29-10-2009, 1:12 PM
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why don't they open a savings a/c and pay the cheque in there?
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# 5
Crabman
Old 29-10-2009, 1:57 PM
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Thanks for the replies.

Popped into HSBC during lunchtime (and found someone who actually knew what they were talking about which made a nice change!) who confirmed what noh said in the above reply, I'm not sure why they don't appear to have a single account & how they manage finances although I don't see it as my business to enquire about that as it wouldn't be relevant, I was asked and said I'd try and find out.

The savings account option is one I suggested but perhaps it wasn't understood. I'll put it to them again as that's probably their best option given the "Account Payee" nature of the cheque. I don't think a credit check is required for a savings account, if a bad credit record is what is stopping them. If not, their only option will be to return the cheque and have it reissued.
I'm a Board Guide on the Savings & Investments, ISAs & Tax-free Savings, Public Transport & Cycling, Motoring and Parking Fines, Tickets & Parking Boards which means I'm a volunteer to help the boards run smoothly & I can move & merge posts there. Board Guides are not moderators & don't read every post. If you spot a contentious or illegal post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Views are mine and not the official line of MoneySavingExpert.com

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# 6
Gordias
Old 30-10-2009, 9:45 AM
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Fortuitous timing with this thread. I received a cheque yesterday for my son (1-year old) however it is made payable to me. I am a trustee on his savings account, does that make me an "Account Payee" and hence I can pay it in directly?

Alternative solution of paying it in to my bank and then 5-days later electronically transferring it is no big deal, but since we're talking about it!
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# 7
rb10
Old 30-10-2009, 11:20 AM
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Quote:
Originally Posted by Gordias View Post
Fortuitous timing with this thread. I received a cheque yesterday for my son (1-year old) however it is made payable to me. I am a trustee on his savings account, does that make me an "Account Payee" and hence I can pay it in directly?
Yes, as you are named on his account, there shouldn't be a problem doing that.
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