Personal Finance & Money Stack Exchange is a question and answer site for people who want to be financially literate. How to reveal a time limit without videogaming it? moving money electronically from one banking institution to another, Why open a high-yield savings account now, with interest rates down, 7 reasons you may need life insurance, even if you think you don't, The best online high-yield savings accounts right now. Why would they really? It did not matter if I was the account holder or anyone else. He choose to use my single acct to have his payroll deposited, i didnt and dont think that is allowable, so i had told him to just wait and get it by check. Print a conversion table for (un)signed bytes. Why not? A wire transfer is a tool for sending money to someone who lives far away. rev 2021.1.15.38327, The best answers are voted up and rise to the top, Personal Finance & Money Stack Exchange works best with JavaScript enabled, Start here for a quick overview of the site, Detailed answers to any questions you might have, Discuss the workings and policies of this site, Learn more about Stack Overflow the company, Learn more about hiring developers or posting ads with us, Did you tried this on chase before or you are speculating about it? To deposit money into someone else's bank account, you can send a money order for amounts under $1,000, or a cashier's check for larger amounts. Generally, if the check is endorsed "For Deposit Only" with your account number below, your friend will have no problem depositing it on your behalf with a teller. Can I Cash in someone elses Check into my bank account or deposit? My wife can intercept checks to me and deposit even with no signature. How can I have someone deposit a check for me? If a check was made out to my name instead of my business name, is there some way I can still deposit it into my business account? Account active It's as simple as that. Can my significant other deposit a check made out to me? My bank used to ask me for ID to cash a check. Have the Personal Finance Insider newsletter sent straight to your inbox. We do not give investment advice or encourage you to adopt a certain investment strategy. Is Harry Potter the only student with glasses? Some banks are banning cash deposits into someone else's account, though. Can I colorize hair particles based on the Emitters Shading? I once had a tenant who often bounced checks on me, so I cashed them in person. A cashier's check is similar to a money order, but there's no limit on how much you can send. You can transfer money electronically through websites and apps such as Venmo, PayPal, and Zelle. I'm sure the teller broke a law doing this. I've had two different banks ask for ID when depositing a check. Get it now on Libro.fm using the button below. I'm currently out of US territory, someone needs to pay me, so he made a check to me, with my name and CHASE account number on it, of course. While most people find this convenient, some workers don't have an account in their name or don't wish to have their pay deposited into that account. If you don't even know me, why would your bank subject you to that risk, by letting me deposit a check they don't know will clear? Logically speaking, everyone's experience here is meaningless unless they bank at the branch you have in mind, this is a gray area, and it's worth dropping the dime. If you can have someone who knows your account number come in to a Chase branch with the check - they'll be able to deposit it for you. For example, one teller cashes my wife's check, but other one asks me for ID. I've deposited checks to my brother's account several times, and not even once was asked to present an ID. They simply don't care where the money comes from (assuming there is no fraud). Many people fear signing or endorsing a check for deposit because if it is lost or stolen before it gets deposited, the money could be lost for good. Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. Although you will have to pay a couple dollars for a money order, it's a worthwhile alternative if you don't already have a paper checkbook. Can I really not close a checking account if I have a year old outstanding check? You may choose to write a paper check and give it to the person. Why do banks have daily deposit limits for check deposits with app? If someone deposits a check into your account without your permission, you must inform your bank that you have been the victim of fraud, especially if you have unknowingly removed funds from the account based upon that check. That said, anecdotally, on at least one occasion I know I have accidentally deposited a check through the Bank of America ATM without having endorsed it (payee and account name were the same) and it was deposited successfully. However, it is their policy. You will … My experience shows that not all banks follow all rules. As to that particular clerk - he definitely broke the law by letting you know the private financial info of that person. But yes, it is possible for someone else to deposit checks for you. I hope I can change my client's mind into using wire tranfers or person-to-person quickpay, but before that happens, I've to find a easy way to get those checks deposited without being there in person. You probably won't be able to send more than $1,000. window.googletag = window.googletag || {cmd: []}; The bank will accept a deposit into the account regardless of who tries to do it. Select the option to complete the transfer. Which banks have cash-deposit machines in Germany? If you take action based on one of our recommendations, we get a small share of the revenue from our commerce partners. Assuming your bank lets you deposit checks from home, then you will likely only need to prepare your check by endorsing the back. One of the easiest banking tasks in the world is depositing money. Unfortunately, you'll … What would cause a culture to keep a distinct weapon for centuries? You may be able to walk into a branch and deposit cash into someone else's account, but many banks are rejecting cash deposits to avoid fraud. The basic information you need to deposit money into a third-party bank account is: Or you can walk into a bank and ask the teller to deposit the check into the person's account, as long as you have their full name and account number. While paper checks are falling out of favor, you can still deposit a personal … For example, you might pay the $200 you want to put into your friend's account, then a $2 fee for the money order itself. @Joe - the bounced check and the fee will be collected from the person who gave the bad check. What you decide to do with your money is up to you. But typically it's not happening. Bank policies vary from bank to bank. Can I ask some other friend to go and deposit that check into an CHASE ATM easily? But they MUST do it according to UCC. Does not include fund transfers between Bank of the West accounts or any credits from Bank of the West. I am responsible for paying all the bills and then i give him money to spend. You'll get a receipt, so if the deposit never goes through for some reason, you have proof of the money order. They have the account number and just deposit their rent checks into an account that is setup for just apartment stuff. Another way to deposit a check with a payee other than you is in a third-party transaction. As a workaround, if you feel comfortable asking your client to do this, you could request the client email a close-up photo of the check to you, which you could print out and then deposit using the iPhone Chase app. honestly all banks across the us require id by the Patriot act it is up to the individual teller on your experience whether or not they know you and that's how people get away without being properly identified. Because most banks have fraud-prevention measures that won't allow a direct deposit into an account bearing a different name. I have additionally had several people make deposits directly into my account without problem. I want to avoid the hassle of asking my client to send the check by postage, and then use the iphone app or something else. I keep telling them they don't have to do that on my account. You can expect to spend $10 to $50 on a wire transfer. I recently opened a bank account and my dad wants me to deposit the check, Can I deposit my dads Check into my account or does he have to have his own account to deposit or cash it in? The answer is ‘Yes’, someone else can deposit your checks. Many banks won't allow it because of fraud. Whereas you can get a money order at a bank, the post office, or a convenience store, cashier's checks are only available at banks. Edit - To know how your bank would handle, contact your bank. On the back you just sign your name and then write "pay to the order of (insert boyfriend's name) and then he signs his name under that. Unfortunately, the money isn't yours unless you made the deposit or if someone else made the deposit on your behalf. By clicking ‘Sign up’, you agree to receive marketing emails from Business Insider You might have to pay a fee to send a direct … Unless the other person is standing there with you. There's a fundamental difference between the two--your account balance requires to bank to disclose personal information that making a deposit does not. However, after I made the deposit I asked for my account balance; they then requested identification. Wire transfers are often for large sums of money, like a down payment on a house. Different banks have their own set of policies, however, there is no legal restriction that to make a deposit, you would have to undergo identification. So, if the deposit was a mistake, you can't keep the money. Re: Can you deposit a check in someone else's name in your account . Is it possible to cash a check made to someone else's name? Is italicizing parts of dialogue for emphasis ever appropriate? Write a check. It seems as if it would be impossible to deposit a check into your own account if the check is made out to someone else. In your question, the friend's name doesn't appear anywhere to the bank. technically they are all breaking the law by not doing so I've worked for three different banks. @JoeTaxpayer: Did not think in these terms, some one would willing deposit a check for fun in my account so thay i get penalized for bounce charges. Call ahead to the branch and ask before you attempt it. Making a deposit does not require the bank to disclose anything and therefore does not jeopardize either your privacy or assets. In this case, you can deposit money into their bank account. I am named as the executor of the will. It's best if you both go to your bank and he has a valid form of identification. A leading-edge research firm focused on digital transformation. Before venturing into a bank branch to put cash in a friend's account, double check that the bank will allow you to do so. There are several ways to deposit money into someone else's bank account. @littleadv is correct, its not speculation as you can endorse the check, if its in your name, or just mark it for deposit only and as long as you are not cashing it or getting money back, it will go through. Subscriber Even if I cite a rule I know to be true, a dozen people can say their bank will do this for them. Once you endorse the check, it … The downside is that there's usually a limit on how much you can send with a money order. The matter of "identity" becomes an issue if there is ever dispute over who got the money. The best answer to whether anyone can deposit into your savings account is that it depends on your individual banking institution. I think you should ask the bank. You can even deposit money into someone else’s bank account if you wish. The other answers below cannot confirm this either way, no one (including me) has cited a government banking regulation. The case you mentioned can be handled by catch hold of person who wrote the check. googletag.pubads().enableSingleRequest(); This will clear up problems that the bank might have. Why is it so hard to build crewed rockets/spacecraft able to reach escape velocity? Air-traffic control for medieval airships. You may send a money order for amounts smaller than $1,000, or a cashier's check for larger amounts. Reply. You can certainly try to sign a check over to someone else so they can deposit it, but it won’t always work. How can I deposit a check made out to my business into my personal account? And just as a negative credit report can hurt your ability to borrow, a checking account history that shows a closed account can impair your ability to open a new account. If the bank discovers the mistake before you do or before you notify them of the mistake, the bank will take back the money and put it in the correct account. 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