BANKING AFFAIRS

Detailed explanation-1: -You do a blank endorsement by simply signing your name on the back of the check. Then, when you’re at the bank, you tell the teller if you want to cash it or deposit it. People will also do a blank endorsement when they’re depositing a check through an ATM or using mobile deposit.

Detailed explanation-2: -Signing the back of the check is called “endorsing” it.” This endorsement provides the bank with an opportunity to verify your identity and ensure the check is deposited into the correct account. All parties who are listed on the “pay to” line on the front of the check should endorse the back.

Detailed explanation-3: -To be endorsed correctly, the name signed on the back of the check needs to match the payee’s name on the front of the check. If your name was misspelled or written incorrectly, sign it with the incorrect version, and then sign again using your correct name.

Detailed explanation-4: -There are three main types of check endorsements, they are, blank endorsements, special endorsements, and restrictive endorsements. Limited endorsement is not a part of endorsement checks as this type of endorsement does not exist.