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Signing over a cheque without banking it
Rank: Member Joined: 3/3/2016 Posts: 132
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If I have a cheque in my name (say a dividend cheque), and I want to pay someone else that amount, can I endorse the cheque somehow?
I mean sign at the bank and give him to deposit in his account.
Or do I have to bank it in my account first and then transfer?
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Rank: Member Joined: 1/31/2007 Posts: 304
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Plimsoul wrote:If I have a cheque in my name (say a dividend cheque), and I want to pay someone else that amount, can I endorse the cheque somehow?
I mean sign at the bank and give him to deposit in his account.
Or do I have to bank it in my account first and then transfer? That used to happen along time ago I doubt it happens today due to the fraud in the banking sector.
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Rank: User Joined: 1/20/2014 Posts: 3,528
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Nope Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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Rank: Member Joined: 10/26/2015 Posts: 151
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Plimsoul wrote:If I have a cheque in my name (say a dividend cheque), and I want to pay someone else that amount, can I endorse the cheque somehow?
I mean sign at the bank and give him to deposit in his account.
Or do I have to bank it in my account first and then transfer? Last I checked, endorsements are done only for payments made to Saccos and shylocks. And maybe if there's a minor difference in the names of the payee.
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Rank: Member Joined: 3/3/2016 Posts: 132
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Thanks for the responses people.
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Signing over a cheque without banking it
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