BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Use this only when you’re at the bank, ready to cash the check or deposit it into your account. Special Endorsement – An endorsement indicating a new owner. May also be called Endorsement in full. Must include the words “Pay to the Order of” and the name of the new check owner.

Detailed explanation-2: -SPECIAL ENDORSEMENT. A special endorsement is-an endorsement indicating a new owner of a check. It has the words Pay to the order of and the name of t he new check owner. So ONLY the person or business named in the endorsement can cash or deposit it.

Detailed explanation-3: -It’s possible to utilize a check made out to you to pay someone else. Essentially, you are sending the money associated with the check directly from the payee to someone else. This is known as a special endorsement.

Detailed explanation-4: -Blank Endorsement – Where the endorser signs his name only, and it becomes payable to bearer. Special Endorsement – Where the endorser puts his sign and writes the name of the person who will receive the payment.

Detailed explanation-5: -If you write “for deposit only” on the back of a check made out to you and then sign your name, the check can only be deposited in your account. This is called a “restrictive indorsement, ” and it should prevent you or any other person from cashing the check.