Generally, each person to whom the check is payable, will have to endorse it or otherwise receive benefit of it. That is, a check payable to "A and B" could be deposited into a joint account owned by both A and B without an endorsement. The fact that it went into an account owned by them is sufficient. Either A or B might then withdraw all the funds without the other's knowledge. |
Also, a check made out to "A and B" is jointly payable. Both need to endorse it or receive benefit as described above. A check made out to "A or B" could be negotiated by either party, and a check that is silent to this, such as being made out to "A, B" is considered like the "or" example and could be negotiated by either.
Published on BankingQuestions.com 5/29/08