My insurance company issued me a check for repairs to my vehicle. It is made payable to me and the body shop at which I plan to get my car fixed. However, the clerk wouldn't deposit the check saying that they needed to sign it too. Is that true or do i need to ask for a supervisor?
If the check is payable to you and the body shop, where the word "and" or an ampersand appears between the names, the check requires both payees'endorsements for valid negotiation. Insurance checks are often issued that way to ensure the body work gets completed and that the body shop gets paid for its work. This is the way the insurance company protects itself.
BankingQuestions.com is a free service made possible by the generous support of our advertisers. Advertisers are not responsible for site content. Please help us keep BankingQuestions.com FREE by supporting our advertisers. When you see an ad for a product or service you may have an interest in, click through to learn more.
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
If the check is payable to you and the body shop, where the word "and" or an ampersand appears between the names, the check requires both 