Could it be that what you've seen is something like "Credited to account of payee. Absence of endorsement guaranteed"? If so, it's an endorsement sometimes added by a bank that has received an unendorsed check for deposit to the payee's account. The bank is guaranteeing that the check was deposited with the bank to an account of the party named as payee. Ironically, under the law in most states, the same guarantee is provided by the bank that accepts an unendorsed check for deposit from the payee, without any need to add the bank's special endorsement.
Published on BankingQuestions.com 12/05/07|