Personal Checks No Longer Have to Be Endorsed!
Sent out a check for $600+ in July. Didn't get what I ordered. Went to the bank to get a copy of the check to confirm that it had been received, and obtain endorsee's signature/stamp/identification. Only thing on the back of the check was a number. The branch I bank at couldn't help me, and gave me a 800 number to call. I called the 800 number and they gave me the run around, wouldn't give me any information on the number, over the phone. The told me they were going to send me a letter, which never showed up.
To make a long story short the above problem SUPPOSEDLY is caused by the identify theft crisis, that is now plaguing the U.S. Checks of $2000 or less don't have to be ENDORSED, all they require is what the banks call a routing number. To find out who has received and endorsed your check you have to contact the bank it was deposited/cashed in. They are not obligated to give you any information though.
I went in and talked with a bank officer about the above. She insisted that their was nothing wrong with this policy, the banks are now pursuing. She couldn't or woodn't accept the fact that this was a recipe for fraud. If any crook using any pretext can con you out of a personal check, for less then $2000, you'll have a heck of a time tracking him down and proving he is the one who cashed your check.
To make a long story short the above problem SUPPOSEDLY is caused by the identify theft crisis, that is now plaguing the U.S. Checks of $2000 or less don't have to be ENDORSED, all they require is what the banks call a routing number. To find out who has received and endorsed your check you have to contact the bank it was deposited/cashed in. They are not obligated to give you any information though.
I went in and talked with a bank officer about the above. She insisted that their was nothing wrong with this policy, the banks are now pursuing. She couldn't or woodn't accept the fact that this was a recipe for fraud. If any crook using any pretext can con you out of a personal check, for less then $2000, you'll have a heck of a time tracking him down and proving he is the one who cashed your check.
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The banks got a lot of regulations that were convenient to them pushed through in the wake of 9/11. Basically, they claimed they needed electronic clearing of checks in the event that the airlines shut down. And they got it. Anyway, it's been years since they honored the date you put on the check.
The laws and rules are not written to protect the people. They're written to make it convenient for the banks. While that, in itself is not evil, it usually means that in a crunch, the bank customer gets screwed and the bank finds itself protected.
We vote these people into power.0 -
Not to get off topic there rufe-snow: but is that luger yours, and would you be considering selling it on GB in the near future? [?] [8)][8)][8)] 0 -
quote:Originally posted by 65gto389
Not to get off topic there rufe-snow: but is that luger yours, and would you be considering selling it on GB in the near future? [?] [8)][8)][8)]
Yes! No!0 -
quote: [?] [8)][8)][8)]
Yes! No!
[/quote]
and to the point [:D][:D][:D][:D]0 -
I am pretty sure if you look into it that not only do they not have to be endorsed on the back, but if you happen to forget to sign it on the front many places can still prossess the check electronicly!
They do this in the same manor as if you did an e-check over the internet!
I have had one prossessed through my account this way.
Also many places (walmart being one) even tell you at the check out stand (on the little plaquard detailing check transactions) that they prosses thier checks useing such e-check methods!
That is why I pretty much quit writeing checks and just use my debit card for all transactions!0 -
I never endorse checks made out to me or my wife. As long as they are deposited into an account with the same name and the payee, they do not need to be endorsed. 0 -
quote:Originally posted by slipgate
I never endorse checks made out to me or my wife. As long as they are deposited into an account with the same name and the payee, they do not need to be endorsed.
I just had a 425.00 bank check returned to me to have endorsed. It was the first time it had ever happened to me. I was looking at my account and saw I was debited for 425 so I called my bank and she said the bank that made the bank check would not pay without the endorsment.
They sent me a letter and a copy of the original check and all I had to do was endorse the copy and redeposit it.
I have bought stuff on the internet with a personal check by just digitally photographing the made out check and emailing it to the place.
I guess they just use the tracking number and amount and get their money.0 -
I no longer use paper checks. If someone will not take my debit/credit card I send them a money order. 
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[8D]--I know most of you guys don't care for Bank of America, but having been a member for over 25 yrs--
--I've NEVER had trouble with personal checks, even had an email from I guy in Virginia that I bought a Weatherby from and His bank questioned my check, so thru my contact with my local BofA-they OK'd the check with his bank and it was smooth--
--I can cancel an account charge (within) the same month , by phone with no question--
--[:)][:)]--JIMBO0
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