I cannot deposit a two-party check in any of my three

[roody]

savings accounts. When did this happen? What a slap to poor people. I was helping a friend who has no account. I actually said that I will back it up with $344 extra cash even though there is more than that in each account. In each place, they said no. I suspect this started when the big financial companies got into the quick loan and check cashing for a fee business.

[grasswire]

1. can't do it here either

Even when it's a U.S. government check. No two-party checks can be deposited or cashed.

[roody]

2. So poor people have to pay to cash a check.

[grasswire]

5. yep

I guess that's the bottom line.

[Iggo]

4. Then why do two-party checks even exist?

Can't cash 'em. Can't deposit 'em. What CAN you do with them?

[BrklynLiberal]

8. Go to a check cashing business and PAY to have them cash it.

[roody]

15. I'm 57 years old. I remember customer service.

[BrklynLiberal]

18. Ah..yes..and Bank tellers who knew something and could make decisions.

[EFerrari]

12. Two party checks don't exist.

One party writes a check to another party.

But in the past, if you got a check that you couldn't deposit, you could sign it over to someone else who could deposit it.

That changed a few years ago.

[tech9413]

24. income tax refund after divorce and relocation

If it's made out to party X AND Y, no bank will cash it or deposit it unless both partys are present.
Been there, done that.

[EFerrari]

3. Yes, it started when the banks decided to prey on account holders.

You're right.

[BrklynLiberal]

6. Yep. Found that out a couple of years ago when I tried to cash a check that a friend

had signed over to me. She had no account into which she could deposit it, and thought I might be able to cash it thru an account I had. Nope. NO TWO-PARTY CHECKS ANYWHERE..ANYWAY..

[EFerrari]

10. It's ironic. The more crooked the banks became

the less they trusted their customers.

[BrklynLiberal]

14. LOL. true...very true.

[old mark]

7. You should join a credit union... banks are not your friends...nt

[BrklynLiberal]

9. JUST opened an account at a Credit Union. Free everything...

if no CU available, at least use a Savings Bank...not one of the big commercial banks that are really only there to serve their commercial clients.

[bullimiami]

23. Cant do it at our credit union either.

[HCE SuiGeneris]

11. Wait. What?

Bankers aren't my friends?


:9

[roody]

16. Two of my accounts are at credit unions. They would not deposit

it in my account either.

[old mark]

22. Mine will deposit a two party check, but I can't use the funds till it clears,

usually a few days.

mark

[bluedigger]

13. Isn't the bank that the check is drawn on still legally required to cash it.

It's been over twenty years since I took business law, but that used to be the law. If they won't honor their own check (assuming sufficient funds) then it is a meaningless piece of paper.:shrug:

[roody]

17. Unfortunately, it is on the other side of the country.

[The Straight Story]

19. Yes, but they can, and will, charge you $5 to do so

Did some side work programming a short while ago. Business sent me a check from a chase account. Went there to cash it, cost me $6 (most other places I have encountered were $5).

[Tansy_Gold]

20. I deposited a third-party check in my checking account a month ago

No problem.

Check was made out to a friend who then endorsed it to me. I endorsed it and deposited it at the ATM. End of story.



TG, NTY

[marybourg]

21. The "Patriot" Act. You probably won't be able to deposit a check

endorsed over to you either, even though checks still say "pay to the ORDER of". Another win for the terrorists.

[customerserviceguy]

25. Wow, this thread was an eye opener

I guess the only solution is to use PayPal accounts, or just do the transactions in 100% cash.

Checks are becoming obsolete, I figure this is just grease on the skids of that sled.

[Tsiyu]

26. That sucks

I am lucky, great bank, no problems cashing anything, they know who i am.

But it's a regional bank, highly rated and solid.