Hubby went into a bank yesterday, with a US$ cheque in my name, to deposit into our joint account. I had signed the deposit slip.
However the teller refused to accept it. She said that I had to sign the back of the cheque.
So I want to know - WHY????
I can understand situations where I'm transferring ownership of the cheque - for example, when a cheque is made out to me as an individual and I'm depositing it into a company account, I need to endorse the cheque by saying I'm a director of the company etc etc.
But why sign a cheque which is being deposited into an account of the same name? The teller said that the US bank would reject it unless it was signed. Is this a US thing???
I mean, the US bank doesn't have my signature on file, so they have no idea if it's really me anyway.
I'd really like to understand WHY this needs to be done. I don't like doing things for no apparent reason.
However the teller refused to accept it. She said that I had to sign the back of the cheque.
So I want to know - WHY????
I can understand situations where I'm transferring ownership of the cheque - for example, when a cheque is made out to me as an individual and I'm depositing it into a company account, I need to endorse the cheque by saying I'm a director of the company etc etc.
But why sign a cheque which is being deposited into an account of the same name? The teller said that the US bank would reject it unless it was signed. Is this a US thing???
I mean, the US bank doesn't have my signature on file, so they have no idea if it's really me anyway.
I'd really like to understand WHY this needs to be done. I don't like doing things for no apparent reason.