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Received Check Out of the Blue: Cash It?

I received a check with a remitter endorsing it. Is it safe to deposit? I don't know these people, but the bank and the remitter check out.


First we ask why? Why doesn't the person have his own account?

If you deposit it through your account and it comes back for any reason, immediately or years in the future (say a forgery is claimed) then your bank will take that money from your account, possibly also a processing fee. By processing it through your account, you are telling your bank that it is good. If you don't know the check writer, that this check is good, that there isn't a stop payment order, etc., don't accept it.

Published on BankingQuestions.com 9/01/10