Quick banking question...

kenshaz

our joint account is Mr T .O. Knowitalll & Mrs I .Knowitalll,both persons are named on the joint account ,no problem

BrandNewDay

kenshaz wrote:

Well I have cheques paid to me and I put them into our joint account ,since when has this new bit of nanny state legislation been in force.My salary is paid to me and that goes into our joint account.
I have been doing this for years,is it like the mobile phone law everyone ignores it

That's the opposite situation - a check written out to EITHER of you can be deposited into a joint account. What others are saying here is that a check written out to BOTH of you MUST be deposited into your joint account.

newlywed

Just before we married we got a cheque payable to both of us as Mr and Mrs when we had no joint account. Paid it straight into OH's account, no problem. They never queried it.

Not sure if it makes any difference how much it is for though?

regularsaver1

kenshaz wrote:

Well I have cheques paid to me and I put them into our joint account ,since when has this new bit of nanny state legislation been in force.My salary is paid to me and that goes into our joint account.
I have been doing this for years,is it like the mobile phone law everyone ignores it

yeah but you are on about paying a sole cheque into a joint account which is fine because you are named on joint account. what you casn't do is pay a joint cheque into a sole named account

Mikeyorks

Post #18 is exactly right - in respect of the OP. In theory that has always been the case. But prior to the Cheques Act 1992 you could both sign the cheque on the back .. and then pay it into a sole account. In fact you could then pay it into any account - and that is the potential fraud the Act was designed to close. As cheques were being stolen in the mail stream - a false signature 'per pro'ed on the back - and then paid into the fraudsters accounts.

The only 'new' legislation (the Cheques Act is 14 years old !!) - relates solely to cheques made out to Banks / Building Societies. It does not apply to 'large companies .. such as British Gas'. And it is 'advisory' rather than 'statutory' - but does mean a Bank can decline a cheque not meeting the new advice. As this link :

http://www.apacs.org.uk/media_centre/press/06_28_09.html

squashy

Ok. We all know that cheques are meant to be made out to exactly the right person, dated, counter signed if a 2 sig required business account, bladibladibla

In reality, cashiers are only human. They don't always check thoroughly. They should, but they sometimes don't. They are more likely to let it through if there is a big queue and they are under pressure to turn customers around, or if the cheque is paid in in the middle of a batch. I guess it depends on who you get and how sharp they are!

regularsaver1

even if the cashier misses it squashy they are doubly checked and can be rejected when they are banked later

anniecave

kenshaz wrote:

My salary is paid to me and that goes into our joint account.
I have been doing this for years,is it like the mobile phone law everyone ignores it

Salary payments are different. I could request my salary to be paid into my next door neighbour's account if I want. Don't know why I'd want to do that, but my employer would let me.

Cheques are different because they are a piece of paper with a payee name on them (obviously...)

By the way, I like the solution the person who started this thread did, asking his parents to cash the cheque - !!!!

Mikeyorks

squashy wrote:

Ok. We all know that cheques are meant to be made out to exactly the right person, dated, counter signed if a 2 sig required business account, bladibladibla

Trust you'll be as relaxed about it if one of your cheques is paid into a wrong account? Or will you be one that damns Banks for inadequate care?

squashy

Mikeyorks wrote:

Trust you'll be as relaxed about it if one of your cheques is paid into a wrong account? Or will you be one that damns Banks for inadequate care?

Well no. I'd complain of course. Just stating facts!