Direct debits taken out in the sole name of the person who has passed away will need to be cancelled, as well as standing orders. For example, you might choose a savings account if you and your partner are saving for a house, or a transaction account if you are sharing rent and groceries with housemates. Ta. Checks made out to them in their married name, she signed and he lodged to his account. When I went cash the check, my bank said that my spouse need to be present before I can cash the check. Two options: - Open a joint account - Ask them to reissue a cheque in one name. Only personal and joint-alternate accounts will be shown in the dropdown list. A joint bank account is an account that you share with another person for things like paying the bills, depositing paychecks, or saving for a vacation or down payment for a car. I have a check made out to myself and another person My bank will not allow e to deposit it into my personal account and there is no way to set up a joint account at this time. Two options: - Open a joint account - Ask them to reissue a cheque in one name. Pay no monthly account fee. The latter is the most sensible option. The cheque cleared in two days, with no questions asked by the bank. Bank refused to accept as it was crossed and we don't have a joint account. If I have a Cashline account, will I be able to open a new account via iBanking? In the instant case, in case there exists a joint account in the name of Raman and Ganesan, there will be no problem. It’s still in the drawer, maybe I should put it in one of those envelopes? Please visit any DBS/POSB branch to open your new account. Please correct me if I am wrong. Jurisdiction. Classifieds Rules It's in my maiden name/payable to two people . Share. Login/cookie issues? Re: Cashing check with two names on it. Although these accounts can be opened by any two people regardless of relationship, they’re generally used by family members, couples or business partners who trust each other. joint savings account … Link Removal Posted 6 years ago Addition or Deletion of name(s) of Joint account holder(s) You can request the bank to add a new joint account holder or delete any of the existing joint account holder’s names. http://www.askaboutmoney.com/showthread.php?t=46866. Many times, with joint accounts, the bank will put the names of both account owners on the checks so that it is clear to anyone accepting the check that either you or your mom can write checks on the account Creditors will most likely accept checks signed by you, although they may want to contact the bank to verify them at least the first time around. To cash a check with 2 names separated by “and,” contact your bank or financial institution, since every bank has its own rules about this. If one person is authorised to operate he will sign the cheque. I am not a lawyer. Calculating your net worth ahead of time will help with the division of jointly owned assets. Compare joint accounts. Under 19 and Student Accounts can't be made into a joint accounts. Call your bank and ask. The bank has to be seen to be crediting the money to both parties. The information must be clear, simple and not misleading. If there are more than two names on the joint account, the financial protection may extend further, but you should check the terms and conditions with the bank or building society. Hassle to Deposit Checks Written to Two People. The information must be clear, simple and not misleading. I think one of you can counter-sign it across to the other ? Forum Rules With a joint account you will both have: Your own individual debit cards. 5. Know exactly how much money is in your account, what’s going out and when. Joint accounts are an easy way to help two people manage any joint spending such as bills or fees. I’ve paid them into my account with both names on with no issues before. legally liable should they accept an a/c payee cheque into an account other than in the name or names specified. Benefits of a joint bank account . (2 different names) Will they have a problem cashing this if they don't have a joint account. Cheers folks, its a ppi cheque from my own bank, will chance it with the teller at my own branch. Although these accounts can be opened by any two people regardless of relationship, they’re generally used by family members, couples or business partners who trust each other. Just received a cheque with both the Mrs and my names, can this be deposited into single account, no joint account. Joint accounts are mostly used by: married couples, civil partners and couples who live together; housemates who have shared expenses – like rent and bills. I often encounter customers who have kept their maiden name … So I crossed off her name and initialled the change with the account holder's initials and re presented the cheque and it was accepted. The names are mine, and the name of my ex. Many banks and credit unions also let you deposit joint checks through mobile apps or ATMs this way. Joint accounts are commonly opened by close relatives (such as by a married couple) or by business partners, but it can be used in other circumstances, such as by a club committee. Access to view your account via the App and Online Banking; Use of any benefits and features that come with the account. Can one of them just sign the back and the other cash it? Newsletter Settings, Cut off date for issue 135 of Singletrack is the 25th January - You need to join us by this date in order to receive the next issue. Some joint accounts come with "rights of survivorship," an arrangement that's called "tenants by the entirety" in some states when the account is held by spouses. The easiest way to find the best joint account for you is to use MoneySuperMarket to compare different accounts with different providers. Took one to the TSB the other day and was told I need to either open a joint account or send it back. Make it out to one person only. A joint account is a bank account that has been opened by two or more individuals or entities. JavaScript is disabled. sir i got cheque of rs 1.8 lcs and it is a multicity cheque of mumbai sbi bank and i deposited the cheque in lucknow sbi branch bcoz my account is in lucknow sbi bank…..but sir when i deposited the cheque i was not crossed with two lines on above left side of the cheque i only write name of account holder and account no. So a real estate company is playing funny games with me. The type you choose depends on who you're sharing the account with and your goal. As it was for a joint mortgage the cheque is in joint names. You probably will have to endorse the check and get the other party to endorse it, too. The payee on a cheque must match the name on the account. Everyone named on the account is able to pay money in or take it out – although sometimes more than one person needs to agree to this. In a joint account only a single cheque book is issued whether authorised operator is single or joint as per their mandate to bank. Everyone named on the account is able to pay money in or take it out – although sometimes more than one person needs to agree to this. Otherwise, any party named on the check … If a cheque is payable to 2 people then both parties have equal right to the money. Privacy As far as I'm aware, if you both sign, you can cash it, but as this cheque says "not negotiable a/c payee only" I think I have to deposit it? A joint account is a bank account that has been opened by two or more individuals or entities. Also we don't have a jointly bank account. For a better experience, please enable JavaScript in your browser before proceeding. The people sending it you were presumtious in putting both names on. We don't think much about depositing a check made out to ourselves. This can be an overdraft or an amount that's owed on a credit agreement. If the names are separated by a comma, “or,” “and/or,” or nothing at all, you can endorse and cash the check yourself. But, the banker says that they require B’s consent for the deletion. My experience is that it’ll probably slip through. Our Smart Access account can come with two Debit Mastercards – one for each of you. Multiple Names in Cheque Cheques addressed to two persons can be deposited into a joint account belonging to them, or to either person's personal account depending on how the cheque is written. The surviving co-owner can take full ownership of the account when the other account holder dies simply by presenting the deceased owner's original death certificate to the financial institution. But the problem is that my spouse live in overseas. In the second case you will have to deposit in a joint account OR bring the other person with you to the bank and have them show their ID to the cashier and endorse the check in their presence. 11 1 1 gold badge 1 1 silver badge 2 2 bronze badges. You will need to either, open a joint account (in the names on the cheque), get the drawer to issue a new cheque or make an electronic payment into the account of your choice. Long story short, me and my ex made plans to move in together in the state of New York. The easiest way to find the best joint account for you is to use MoneySuperMarket to compare different accounts with different providers. Dismiss, Viewing 14 posts - 1 through 14 (of 14 total), Depositing a cheque with two names into single account, Premier Partners for Singletrack issues & exclusive subscriber perks, Metcheck MTB Weather Forecasts At A Glance, Singletrack Cycle Of Good Inner Tube Belt, Singletrack Lockdown 2020 426ml Coffee Mug, The Museum of Cycling Curiosities – The Plus Size Brompton, The Self Improvement Edition: Fresh Goods Friday 532, Singletrack Podcast – Where we try to unscramble what Brexit means for us, This topic has 13 replies, 12 voices, and was last updated. I amended my 2016 tax return to married filing jointly and the refund check is issued with both spouse name on it. This can be useful for couples because a two-person joint account would be covered up to £170,000 in total (£85,000 per person), assuming neither party had any other savings with that provider. The EU Payment Services Directive, which will have legal status in Ireland from Nov 2009 covers every other form of payment. A decides to delete the name of B from joint account. However the real answer is whether the cashier, or the person processing the auto deposits, is on there game and spots it. I just had a cheque issued in my name and my wife's name. The monthly account fee for the Smart Access account will be waived if you deposit at least $2,000 per month. Both people named on the account are individually and jointly responsible for any debts on the joint account. Now, when it comes to these checks, you’re going to encounter the least amount of problems when they’re written in the John “or” Jane form. My sister's getting married and I've made the check out to her and her soon to be husband. A joint bank account is an account in the name of two or more people. It’s the simplest way to handle the check.