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Is signing my pay check over to someone else considered cashing it? Does the issuing bank consider it so?
March 16, 2017 08:05:31 AM
In reply to Rebecca, Lafayette
Thank you for reaching out to us on TD Helps, Rebecca. We are happy to help clear up some confusion in regard to cashing a check.
The answer to your question is based on who the check is made payable to. If the check is made payable to you, then you may simply sign your name on the back of the check before cashing or depositing it to your account.
If the check is made out to someone else, we recommend that both parties be present with a Teller and their valid Identification, and an Endorsement Authorization & Release Form must be completed if you choose to cash the check.
If you have a business account with us here at TD Bank, any check deposits made must be payable to the legal business name (this includes sole proprietorships). Also, the check must be made payable to the business as the original Payee, and must be deposited and not cashed. We can accept the check for deposit only into the payee's account.
Please note, government or insurance checks can only be presented for payment to the person listed on the "Payable to" line of the check, and for a check with two payees; these types of checks can only be deposited into a joint account naming both parties.
To better assist you, we recommend contacting our Banking Specialists 24/7 at 888-751-9000. After speaking with you, we will have a better understanding of the check you have, and we’ll be happy to offer some recommendations or suggestions at that time. You may also feel free to visit your local TD Bank store for further assistance. To find out TD store locations near you, please visit, http://go.td.com/TDStores.
We are always here to help, Rebecca. Feel free to let us know if you have any further questions.
Kris M, Mt. Laurel
March 16, 2017 08:05:43 AM