Can a cheque with two names on it be paid into a sole account

MRS_TO_BE_2

Does any one know if a cheque with two names on it eg Miss xxx and Mr xxxx be paid into the HSBC account of Miss xxxx?

Thanks

Mikeyorks

No, sorry. You can pay a singleton cheque into a joint account .... but not the other way around.

MRS_TO_BE_2

Looks like it will have to go through the overdrawn joint account!

Thanks though

Extant

If a cheque is crossed "Account payee only" or similar, then it can only be paid into an account of the same name.

There will be people around here who will tell you to try and get it past a cashier anyway.

Mikeyorks

I'm afraid so. As Mr xxxx may not, in the eyes of the Bank, agree with all the funds going to Miss xxxx? And, since the Cheques Act 1992, if it's crossed (as 99% are) ... he can't endorse his approval on the back.

So it has to go into an account in the name of both payees.

Looks like it will have to go through the overdrawn joint account!

opinions4u

If the drawer of the cheque crosses out the term "account payee only" and initials the amendment, then the cheque can be presented in to a single name account.

The second payee on the cheque will need to endorse the back of the cheque with a signature in the presence of the cashier.

The only problem you will have is that the cashier probably won't realise that the law allows this!!

milfordmadness

MRS_TO_BE wrote: »

Does any one know if a cheque with two names on it eg Miss xxx and Mr xxxx be paid into the HSBC account of Miss xxxx?

Thanks

Appreciate what other people on here say but it may be worth mentioning that UK banks are reknown for not checking cheques and the system is easily beaten/got around, if not for fraud reasons.

For example, someone told me banks only 'manually check' cheques after a certain limit, otherwise they are presented and cashed unless reported lost/stolen in the interim (its cheaper than paying for a whole team of cheque checkers lol). However, I decided to test this and wrote a cheque to my wife payable to Mickey Mouse & Friends for 333 pounds and signed it from Bill & Hillary Clinton. The cheque was cashed no problem, in the normal timeframe.

However, the problem was getting it into her bank in the first place and that is where HSBC may be harder..... in Hbos, for example, their ATM have special facilities that once the cheque is read, no human needs to touch it so depositing a cheque this way always gets presented for payment as the name is simply ignored - only the monetary value is read by the machine.

However, i'm sure HSBC may manually take cheques out of their machines and pay them into your account so not sure if this would be the same....

Do a search on here (the forums) for cheque cashing and see what others have wrote, similar to my example above - someone will have tried it at HSBC. The other alternative is to set up a savings account and pay cheque direct into this..... :rolleyes:

milfordmadness

opinions4u wrote: »

If the drawer of the cheque crosses out the term "account payee only" and initials the amendment, then the cheque can be presented in to a single name account.

The second payee on the cheque will need to endorse the back of the cheque with a signature in the presence of the cashier.

The only problem you will have is that the cashier probably won't realise that the law allows this!!

I've heard this as well and to be honest most cashiers play it safe and do not allow this, which to be fair is their safest option because I suppose it could cause some bother if abused!!

Personally, it may be worth looking for this legislation online and then printing it and taking it to the bank with you and asking to speak to a manager - they will then be able to authorise it but yet again, may be a lot of messing about having to get cheque initialled etc (but then you could do that, they never check after all).....

opinions4u

milfordmadness wrote: »

most cashiers play it safe and do not allow this, which to be fair is their safest option because I suppose it could cause some bother if abused!!

But they would be wrong in law to do so.

What I suggest is perfectly legitimate.

milfordmadness

opinions4u wrote: »

But they would be wrong in law to do so.

What I suggest is perfectly legitimate.

We both know this little detail - but this is bank staff we're talking about...... Not the average person remember.... lol

That's why I suggested that they print the legislation off to at least have a good arguement!

ShelfStacker_3

milfordmadness wrote: »

We both know this little detail - but this is bank staff we're talking about...... Not the average person remember.... lol

I'm sorry?