Cheques addressed to two persons can be deposited into a joint account belonging to them, or to either person's personal account depending on how the cheque is written. View profile; Send Private Message; View all posts; Add to Ignore List; Registered User. I've done it in the past with HSBC and it wasn't a problem. I don't know the policies at all banks, but I was told by someone at CIBC that there are rules for items being deposited into the ATM and the name would not be verified unless the cheque was over a certain amount (don't remember the number, but it was very high). That means the bank accepts cheques in any of the three names. If the check was made out to both people using the word “and,” then it has to be cashed by both parties. Multiple Names in Cheque. If the check was made out to both people using the word “and,” then it has to be cashed by both parties. as banks like to do. Checks made out to either individual using the word “or” can be cashed by either person. Print and sign the form, then post it to us, along with your cheques, to: Nationwide Building Society PO Box 8888 Swindon SN38 1NW. We and our partners will store and/or access information on your device through the use of cookies and similar technologies, to display personalised ads and content, for ad and content measurement, audience insights and product development. I recently cancelled my car insurance, and got a refund cheque. Posts: 2,551. The rules for cashing a check made out to 2 individuals varies depending on the bank as well as how the check was written. We often link to other websites, but we can't be responsible for their content. Yahoo is part of Verizon Media. Cheques are a crucial part of the British payments landscape - nearly £840 billion of cheques were processed in 2012 – accounting for 10% of all payments made by individuals. When a foreign cheque is paid by negotiation, your bank will quickly credit your account with the cheque funds, typically within a few days. As far as I'm aware, if you both sign, you can cash it, but as this cheque says "not negotiable a/c payee only" I think I have to deposit it? 1 A cheque is an agreement of payment between two individuals or organizations. The rules for cashing a check made out to 2 individuals varies depending on the bank as well as how the check was written. Canada has one of the most efficient cheque clearing systems in the world and, while the use of cheques has been declining with the growing popularity of electronic and card payments, financial institutions in Canada still process nearly a billion cheques every year. It had both her full name and my full name. BearBear Posts: 137. A cheque is just a standard format of a written instruction to your bank. If a cheque is made out to more than one person, it has to be paid into a joint account. Past-Member, Feb 18, 2011 #2. For example, if paying two individuals with different last names, write “John Doe and/or Jane Smith.” Find out if the two payees have the same surname. You can trade using a different name to your registered name. Re: Cashing check with two names on it. I recently moved out of an apartment I shared for a year with a roommate. Do note, while we always aim to give you accurate product info at the point of publication, unfortunately price and terms of products and deals can always be changed by the provider afterwards, so double check first. You can change your choices at any time by visiting Your Privacy Controls. Location: Dublin. There is often a charge for this. On my own account is my name and my two related business names. The cheque therefore must be paid to a bank (e.g. Information about your device and internet connection, including your IP address, Browsing and search activity while using Verizon Media websites and apps. thanks Julie When you submit a cheque made out in a foreign currency, there are two possible ways the bank may process it. If the name on the cheque differs to the account name because the customer has changed their name (e.g. 1 decade ago. I experienced this situation when my ex fiance and myself separated and closed our joint account. A common instruction is for the cheque to be deposited directly to an account with a bank and not to be immediately cashed by the holder over the bank counter. Report Post. We were asked if we wanted a cheque made payable to us both, or separate cheques. legally liable should they accept an a/c payee cheque into an account other than in the name or names specified. 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