Posted on 08/10/2006 5:13:33 AM PDT by hsmomx3
Okay- it's not like I did anything wrong because I have done this in the past but yesterday we rec'd a check from our insurance company and it was made payable to my husband.
I endorsed the back of the check, and deposited it into my checking account. I've endorsed plenty of checks for him as he would tell me to.
The bank, as of this morning, removed this deposit completely.
I suppose husband will have to call the bank to verify this is okay what I did?
I hate when the banks do not have convenient hours to talk to someone.
Insurance companies commanly issue what is called a "sight draft"...It looks similar to a check but is treated slightly differently....They may have stopped it...
You did nothing wrong.....
Check with the Insurance company as to why they reversed payment.
Could it be because it is my name on the checking account and not his?
It's illegal to sign someone elses name. You can sign your own name if it's on file with the bank giving you authorization.
The insurance did not stop the check, the bank removed it from my account as it showed up right away lastnight and as of this morning the bank removed this deposit.
Really, I was always told I can sign my spouse's name.
For example, I changed the name of my company, and forgot to change the name on one account. The bank would not let me deposit into that account. I had to change the name on the account to be able to deposit the check.
I was told the reason was 9/11, but further research stated it was a deterrent against check theft.
Oklay--so I guess he will have to call them after I talk to the bank. thanks.
Have your husbands name added to your checking account and this will not happen.
I have no idea what your check was for, but we received a check from our insurance company to replace our roof which was damaged by hail. We deposited it and paid the roofer by personal check.
Our check to the roofer bounced because the insurance company had put a stop payment on the claim check. Seems the check had to be endorsed not only by us, but by our mortgage company as well, a little fact the insurance company did not bother to explain to us.
We talked to the bank and they honored our personal check, while waiting for the inusrance company to re-issue our claims check, and for us to get it endorsed by the mortgage company.
And who told you that? Think about it the other way around ... your husband signs your name, blows the money, and you sue the bank and the insurance company for giving away your money based on a fradulent signature. I assume from it being an insurance check that it was a large amount, large enough for the bank to pull the signature card. You really don't have much to stand on here. At a minimum you should have signed with your own name to be above-board on what you were doing.
Recently while I was out of town, a check needed to be picked up from a client as a deposit on a job. I had my ex-wife handle it. She just marked it "for deposit only" and put it in my account. Why couldn't you have done that?
I'm no lawyer,but unless you've been granted Power of Attorney by your husband I'll wager that that's not true. Of course,the reverse would also be true.
But they are still perfectly correct (though also a pain in the butt) in that you signed somebody else's name to a check not made out to you, and there's no official legal authority for you to do so.
Suppose that you had just decided to leave your husband and initiate divorce proceedings. He comes home and discovers that the bank let you take a check made out to him and use it for your own benefit. It could get ugly, and it's tha banks business to avoid that kind of ugliness or even the possibility of it.
I use 'for deposit only' on all checks I deposit.. I never sign them and I've done this for years... Though I don't deposit that many checks...
Could it be because it is my name on the checking account and not his?
***
If the checking account is only yours, with only your name on - then you also need to write (sign) your name under his as if he has signed it (you did for him) over to you - so on back of check - his signature, your signature and then "Deposit only in acct ######"
I have two checking accounts at two different banks, both in my name only. One of them will not allow me to deposit a check made out to my spouse and endorsed over to me. This is called a third party check, since I am the third party.
The other bank will allow it if the amount is not too large.
I imagine you are a lot more likely to encounter this restriction if the bank is a savings and loan than if it is a commercial bank. Regardless, your husband should have signed the check and endorsed it over to you by writing "pay to the order of and your name" if you want to deposit it in your account. But first you need to clarify with your bank if it will take a third party check.
http://www.palmbeachpost.com/treasurecoast/content/local_news/epaper/2006/08/10/m1a_SLSAVAGE_0810.html
Police chief indicted for signing ex's name on check. I know this is not the same as you, but what you did is still forgery. Having your husbands permission to commit forgery does not make it legal. NEVER sign a name that is not your own. Even with a power of attorney, you must sign your OWN name. Be glad you were not prosecuted. Good luck and be careful.
Memsab you are mistaken.
Me and fellow employees await your phone inquiry 24/7.
By the way it is overcast here in Mumbai today.
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