We’ll also look at what happens if a check is not properly endorsed, when it may be best not to accept a check at all due to missing or problematic endorsements, why business checks should not be deposited into personal accounts, and why less cash is not given on business accounts. Many “tricky” issues will be discussed, including deceased account holders, business accounts, endorsements for minors, income tax check endorsements, trustee endorsements, and endorsements by powers of attorney. Learn the safe way to handle checks and ensure that both you and your financial institution are protected from loss on negotiable instruments. You won’t want to miss this session! The information provided will build confidence and provide a thorough understanding of the legal issues surrounding endorsements.
What You’ll Learn:
- Who is the person entitled to endorse the check?
- What is a valid endorsement?
- Bearer versus Order Checks
- Who is the holder of a check and what is the holder in due course?
- Endorsements for minors, fiduciaries, business accounts
- Check cashing issues for business accounts
- Deceased payees on checks
- Postdated, stale dated, erasures, alterations and more lessons we need to learn
- Why we absolutely do not give cash back, cash or deposit into personal accounts checks made payable to a business
Who Should Attend?
This informative session is for tellers, head tellers, cashiers, managers, branch operations, bookkeeping, compliance officers who okay checks and deposit representatives who work with checks and accounts.