I bank at a local bank and recently deposited a school loancheck made out to my daughter and my brother (who was the cosigner). They all signed the check with their social security numbers and I also signed it. I deposited the check through the ATM. First there was a hold on the check and now it has been charged back. Why? I have done this before on a student loan check because I am the one who pays the bills.
Banks are becoming more and more unwilling to accept checks for deposit from people who are not the original payees. Your bank may have tightened up its policy for handling this sort of check.
Contact the bank to ask about what has happened. See if, once you explain the circumstances surrounding the check, the bank will once again deposit it to your account.
For future checks of this type, find out if your brother will be better able to deposit the check to his account and write you a check (since he's one of the payees). You might also try having your daughter find out if the check could be signed over to the school for credit to her school bill.
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
Banks are becoming more and more unwilling to accept checks for deposit from people who are not the original 