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Can I Deposit an Endorsed Promissory Note?

Can an endorsed promissory note issued by a private company be deposited into a bank account?


In most cases, if you are unable to collect on the promissory note in person, it's possible to take it to your bank and request that it be collected for you, with the proceeds to be deposited to your account when they are received. It would not ordinarily be possible for such a note to be deposited to your account as routine checks can be.

Published on BankingQuestions.com 6/02/10