Cheque Question

diddldonna

Got a cheque for PPI claim in my husbands and my name, we dont want to put it in our joint account as it would likely get swolled up with all the bills etc. so want to put this into my account which is in my name which my husband agrees to. will a bank allow me to do this even though its in both our names?

zxspeccy

The short answer is no.

I am assuming the cheque is crossed “a/c payee only”, so will need to be deposited into an account in joint names. In the old days your husband could simply negotiate his half of the cheque over to you by signing the back, but that is no longer possible. Surprising this was because of all the cheque conversion fraud that was happening at the time.

The only way forward would be to send the cheque back and ask for it to be re-issued in just your name, however the PPI company may want evidence that you husband is willing to sign over his share of the cash. Give them a ring and see what they say.

pmduk

Why not simply transfer the money immediately it's cleared? Alternatively open a joint savings account with it.

diddldonna

pmduk wrote: »

Why not simply transfer the money immediately it's cleared? Alternatively open a joint savings account with it.

Been to bank and yes will only allow into joint account, going to transfer the money once cleared. Never thought putting in a cheque would be so hard, had to fill in a form, asked what it was for and do i want to speak to someone about how to invest.