BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Write “Pay to the Order of” and the third party’s name below your signature. It’s important to write the name of the person that you are signing the check over to in the endorsement area under your signature. This signals to the bank that you are endorsing the transfer of ownership for the check.

Detailed explanation-2: -If you receive a check payable to cash, deposit it like you would any other check. Endorse by signing the back and deposit the check with your bank or credit union. If you prefer to cash the check instead of depositing it to your account, you may have to go in person to the bank that the funds are drawn on.

Detailed explanation-3: -Endorsing cheques means that if you have an order cheque then you can endorse it to someone else. Endorsing means the payee can use the same order cheque to pay to someone else (the creditor) by writing that person’s name on the back of the cheque and signing it.

Detailed explanation-4: -To save time, you could endorse a check to someone else to pay them. This means that you sign over a check to them that was originally given to you, and they deposit it instead.