BANKING GENERAL KNOWLEDGE
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Blank Endorsement
|
|
|
Restrictive Endorsement
|
|
|
Endorsement in Full
|
|
|
Full Endorsement
|
Detailed explanation-1: -For Deposit Only-Restrictive Endorsement The most secure way to endorse a check is to: Write: For Deposit Only to Account Number XXXXXXXXXX. Sign your name below that, but still within the endorsement area of the check.
Detailed explanation-2: -A restrictive endorsement is a conditional guaranty of a transfer of a negotiable instrument. That is, an endorsement that takes effect only on the occurrence or non-occurrence of another act or event.
Detailed explanation-3: -Blank or General Endorsement. Full Endorsement or Special Endorsement. Conditional Endorsement. Restrictive Endorsement.
Detailed explanation-4: -In a restrictive endorsement, the check is restricted to use by the payee named at the back of the check.