• Page :
  • 1
  • Text Only
Voting History
rated:
Question for the Pros.

What are the / where can I look - for the policies on..

1. If I could deposit checks drawn on my name into wife's checking account? Does wife have to be present with me to make deposit?

2. If someone else (spouse) has given me her ATM card and PIN to use it whenever and however I want, is it illegal for me to use her ATM card and PIN?


Member Summary
Most Recent Posts
ananthar said: <blockquote><hr>dcwilbur said: <blockquote><hr>ananthar said: <blockquote><hr>Depositing checks into anot... (more)

mespin (Nov. 22, 2006 @ 8:45p) |

ananthar said: <blockquote><hr>dcwilbur said: <blockquote><hr>ananthar said: <blockquote><hr>Depositing checks into anot... (more)

dcwilbur (Nov. 22, 2006 @ 9:21p) |

dcwilbur said: <blockquote><hr>chocula said: <blockquote><hr>dcwilbur said: <blockquote><hr>Legally speaking, an endorse... (more)

chocula (Nov. 23, 2006 @ 12:39p) |

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

1. If you properly endorse your check, there should not be an issue.
2. Assuming that you are given permission, it should not be against the law. However, you may have some explaining to do if someone decides to challenge you.

you can only deposit your checks into your wife's account if your name is on the account. some banks will let you deposit into your wife's account if your name is not on the account only IF both of you are present with ID (citibank allows this). I don't know about illegal but you may be stopped if questioned about using your wife's ATM card

Endorse the back of the checks:
Pay to the order of YOUR-WIFE'S-NAME

Sign below that and then have your wife endorse the checks:
For deposit only Acct #YOUR-BANK-ACCT-NUMBER

Then have her sign below that

Go to the bank and deposit them in the ATM.

The primary issue with you making a deposit to someone else's account is the receipt you normally recieve contains the account balance. Naturally it wouldn't be good to give that to other than the account holder.

Edit: No it isn't illegal to use your wife's ATM card and PIN with her permission.

dweick said: [Q]Endorse the back of the checks:
Pay to the order of YOUR-WIFE'S-NAME

Sign below that and then have your wife endorse the checks:
For deposit only Acct #YOUR-BANK-ACCT-NUMBER

Then have her sign below that

Go to the bank and deposit them in the ATM.
All OP really needs to do is sign the back of the check and have his wife sign underneath. Endorsing the back makes it payable to anyone who signs below OP's signature.

The real problem is getting the bank to cash your third-party check. This is bank-specific, so you'll need to consult your wife's bank for its policies. Some banks don't allow third-party checks to be deposited through the ATM. Some banks would also require you and your wife to be physically present with state-issued IDs before cashing a third-party check.

BTW, why do you need to deposit money in your wife's account and then use her ATM card to withdraw money? There's no better arrangement that you can think of, like a joint account?

sggujju said: [Q]Question for the Pros.

What are the / where can I look - for the policies on..

1. If I could deposit checks drawn on my name into wife's checking account? Does wife have to be present with me to make deposit?

2. If someone else (spouse) has given me her ATM card and PIN to use it whenever and however I want, is it illegal for me to use her ATM card and PIN?

just ask your bank

dweick said: [Q]Endorse the back of the checks:
Pay to the order of YOUR-WIFE'S-NAME

Sign below that and then have your wife endorse the checks:
For deposit only Acct #YOUR-BANK-ACCT-NUMBER

Then have her sign below that

Go to the bank and deposit them in the ATM.

The primary issue with you making a deposit to someone else's account is the receipt you normally recieve contains the account balance. Naturally it wouldn't be good to give that to other than the account holder.

Edit: No it isn't illegal to use your wife's ATM card and PIN with her permission.

dweick makes an excellent point and it is understandable. Thank you all for your input. The only reason for not putting my name on the account is to save an enquiry on my credit report. It's Citibank and they told me they'd do a hard enquiry to add me on the account. But I guess it's about time not to worry too much about few points dip in my score and just make life easier by adding my name on the account.

Another question:

When we make a huge deposit, How does bank's system decide to let all or partial balance be available or put on the hold? I know that it has to do with account activity, average balance, past deposits etc..what I'd like to know is how do I know if my account will give me immeidate funds availability for 1k, 5k 11k or 15k or any other amount? and anything beyond that will be placed on hold?

dweick said: [Q]The primary issue with you making a deposit to someone else's account is the receipt you normally recieve contains the account balance. Naturally it wouldn't be good to give that to other than the account holder.
When you deposit into an account you do not own (or use a deposit slip without swiping your ATM card to verify that you own the account), you get a receipt that only states the amount deposited -- not the account balance. Some banks also print when the funds will be made available.

sggujju said: [Q]Another question:

When we make a huge deposit, How does bank's system decide to let all or partial balance be available or put on the hold? I know that it has to do with account activity, average balance, past deposits etc..what I'd like to know is how do I know if my account will give me immeidate funds availability for 1k, 5k 11k or 15k or any other amount? and anything beyond that will be placed on hold?
This is completely dependent on your bank's funds availability policy. You really should call them. I can give you general crtieria, but some or none of it could apply to your specific bank. Funds availibility is usually done automatically based on whether the check is local and the amount of the check. What checks are considered local and the cut-offs should be written in a bank policy somewhere and are probably available on your bank's website. You can get a manager to override most holds if he/she feels like it (it's usually pretty subjective).

EDIT: You mentioned Citi. In NYC, for local checks, the hold is 2 business days for under $5K and 3 business days for over $5K. Add 2 business days to those figures for non-local checks. Note that these dollar amounts are per day, not per check.

sggujju said: [Q]When we make a huge deposit, How does bank's system decide to let all or partial balance be available or put on the hold? I know that it has to do with account activity, average balance, past deposits etc..what I'd like to know is how do I know if my account will give me immeidate funds availability for 1k, 5k 11k or 15k or any other amount? and anything beyond that will be placed on hold?I have better luck getting immediate funds when I deposit large checks with the teller, but BofA tells me that it's the computer's decision. You're probably OK below $5,000 if it's a "local" bank.

Don't get added to her account if it's with Citibank. Take advantage of one of their wonderful $200 promotions and just get your own account.

Chyvan said: [Q]Don't get added to her account if it's with Citibank. Take advantage of one of their wonderful $200 promotions and just get your own account.
Good idea. If you need to move funds bank and forth, you can use free Citi Global Transfers online to make instant transfers between Citi accounts.

Why would you want to??? You should be depositing her checks in your account!!!!!<img src="i/expressions/face-icon-small-happy.gif" border=0>

sggujju said: [Q]dweick said: [Q]Endorse the back of the checks:
Pay to the order of YOUR-WIFE'S-NAME

Sign below that and then have your wife endorse the checks:
For deposit only Acct #YOUR-BANK-ACCT-NUMBER

Then have her sign below that

Go to the bank and deposit them in the ATM.

The primary issue with you making a deposit to someone else's account is the receipt you normally recieve contains the account balance. Naturally it wouldn't be good to give that to other than the account holder.

Edit: No it isn't illegal to use your wife's ATM card and PIN with her permission.

dweick makes an excellent point and it is understandable. Thank you all for your input. The only reason for not putting my name on the account is to save an enquiry on my credit report. It's Citibank and they told me they'd do a hard enquiry to add me on the account. But I guess it's about time not to worry too much about few points dip in my score and just make life easier by adding my name on the account.

Come on, I really hope you are kidding. Why are people so obsessed about a point or two with their scores?

If you use the ATM to make withdrawals with her card, she may say you stole it. Also, you may really need to get that check into the bank, and the teller may tell you no. Then you will be up the old creek.

mespin said: [Q]sggujju said: [Q]Another question:

When we make a huge deposit, How does bank's system decide to let all or partial balance be available or put on the hold? I know that it has to do with account activity, average balance, past deposits etc..what I'd like to know is how do I know if my account will give me immeidate funds availability for 1k, 5k 11k or 15k or any other amount? and anything beyond that will be placed on hold?
This is completely dependent on your bank's funds availability policy. You really should call them. I can give you general crtieria, but some or none of it could apply to your specific bank. Funds availibility is usually done automatically based on whether the check is local and the amount of the check. What checks are considered local and the cut-offs should be written in a bank policy somewhere and are probably available on your bank's website. You can get a manager to override most holds if he/she feels like it (it's usually pretty subjective).

EDIT: You mentioned Citi. In NYC, for local checks, the hold is 2 business days for under $5K and 3 business days for over $5K. Add 2 business days to those figures for non-local checks. Note that these dollar amounts are per day, not per check.

Funds availability also depends on the type of check being deposited. U.S.Treasury Checks,Fed Reserve Bank Checks,Fed Home Loan Bank Checks, U.S. Postal Money Orders, State & Local Government Checks, Cashier's Checks,Teller's Checks, Certified Checks and Travelers Checks are considered "Deposits Given Special Availability". At Citibank (NY), as of October 2006, these check deposits are available immediately on the business day of deposit, regardless of the dollar amount. For example, in October I deposited a $200K Cashier's Check into my Citi Checking account and the entire amount was available immediately. No holds.

Chyvan said: [Q]Don't get added to her account if it's with Citibank. Take advantage of one of their wonderful $200 promotions and just get your own account.

I agree. OP, why not just get your own account?

mespin said: [Q]dweick said: [Q]The primary issue with you making a deposit to someone else's account is the receipt you normally recieve contains the account balance. Naturally it wouldn't be good to give that to other than the account holder.
When you deposit into an account you do not own (or use a deposit slip without swiping your ATM card to verify that you own the account), you get a receipt that only states the amount deposited -- not the account balance. Some banks also print when the funds will be made available.

Good point.

Depositing checks into another persons account (without that other persons permission) is perfectly legal in most countries and used to be legal in USA until some Politician in the 70s claimed he was framed when some political campain contributions from some mobster showed up in his campaign account. So Congress overreacted (as usual) and outlawed all deposits without the accountholders consent.

ananthar said: [Q]Depositing checks into another persons account (without that other persons permission) is perfectly legal in most countries and used to be legal in USA until some Politician in the 70s claimed he was framed when some political campain contributions from some mobster showed up in his campaign account. So Congress overreacted (as usual) and outlawed all deposits without the accountholders consent.Care to post a reference for this remark? Are you saying that it is illegal for me to write a check out to "Ananthar" and walk into your bank, write your account number on the back, and give it to the teller for deposit?

I think that it depends on the teller and/or branch manager and their experiences. The branch I went to yesterday, the manager wasn't very customer friendly. I went to another branch today with my wife and deposited the check.

Teller asked me to write "Pay to the order of (account holder's name)" and endorse the check.

sggujju said: [Q]I think that it depends on the teller and/or branch manager and their experiences. The branch I went to yesterday, the manager wasn't very customer friendly. I went to another branch today with my wife and deposited the check.

Teller asked me to write "Pay to the order of (account holder's name)" and endorse the check.That's crap. A check made out to your wife can be stamped "Deposit to the account of the within named payee" and deposited in an account in her name. Likewise, an endorsed check is a negotiable check. Any bank that won't do business that way is a bank that won't get my business.

dcwilbur said: [Q]sggujju said: [Q]I think that it depends on the teller and/or branch manager and their experiences. The branch I went to yesterday, the manager wasn't very customer friendly. I went to another branch today with my wife and deposited the check.

Teller asked me to write "Pay to the order of (account holder's name)" and endorse the check.That's crap. A check made out to your wife can be stamped "Deposit to the account of the within named payee" and deposited in an account in her name. Likewise, an endorsed check is a negotiable check. Any bank that won't do business that way is a bank that won't get my business.
Alot of banks are taking a hard-nosed approach. I know Citi requires both persons present and sometimes opts to deposit the check on a collection basis -- that is, they won't make the funds available until the other bank pays up.

mespin said: [Q]I know Citi requires both persons present and sometimes opts to deposit the check on a collection basis -- that is, they won't make the funds available until the other bank pays up.

Not necessarily true. I've deposited checks of family members (same last name) into my Citi accounts with no questions asked. I never paid attention to whether there were holds on them though. All the checks were less than $300, maybe the value of the checks are a factor.

mespin said: [Q]Alot of banks are taking a hard-nosed approach. I know Citi requires both persons present and sometimes opts to deposit the check on a collection basis -- that is, they won't make the funds available until the other bank pays up.Everybody should have a local account near their home or office where they can go in once or twice a week with their little rebate checks or birthday checks from grandma, etc. Go to the same teller so they get to know you, wave to the manager when you come and go, ask the new accounts person for information from time to time. This works wonders when you need immediate funds availability or want a cashiers check or have an unusual check to deposit or any other "special" situation. I NEVER use the ATM in front of my local bank. Always conduct a face to face transaction when possible.

dcwilbur said: [Q]sggujju said: [Q]I think that it depends on the teller and/or branch manager and their experiences. The branch I went to yesterday, the manager wasn't very customer friendly. I went to another branch today with my wife and deposited the check.

Teller asked me to write "Pay to the order of (account holder's name)" and endorse the check.That's crap. A check made out to your wife can be stamped "Deposit to the account of the within named payee" and deposited in an account in her name. Likewise, an endorsed check is a negotiable check. Any bank that won't do business that way is a bank that won't get my business.

I highly doubt there is any bank that has a blanket statement that they will take all 3rd party checks. Many banks have a policy that they do not take 3rd party checks, and the rest say it is by exception only.

Legally speaking, an endorsed check is a negotiable item.

dcwilbur said: [Q]Legally speaking, an endorsed check is a negotiable item.

But that has nothing to do with a bank accepting if for deposit.

Get the depsoit guidelines for your bank. I am sure that it will either say they do not take them for deposit or the exception may be made.

chocula said: [Q]dcwilbur said: [Q]Legally speaking, an endorsed check is a negotiable item.But that has nothing to do with a bank accepting if for deposit.

Get the depsoit guidelines for your bank. I am sure that it will either say they do not take them for deposit or the exception may be made.What the bankers say...

I go back to my earlier statement that if a bank ever refused my deposit, I'm taking my business elsewhere.

dcwilbur said: [Q]Everybody should have a local account near their home or office where they can go in once or twice a week with their little rebate checks or birthday checks from grandma, etc. Go to the same teller so they get to know you, wave to the manager when you come and go, ask the new accounts person for information from time to time. This works wonders when you need immediate funds availability or want a cashiers check or have an unusual check to deposit or any other "special" situation. I NEVER use the ATM in front of my local bank. Always conduct a face to face transaction when possible.

I agree 100% dcw. Too bad many people dont think to use this old fashioned approach . Its VERY effective.

Well, this topic got kind of interesting. One more thing to consider for my original post is that the check was CC Bal Txfr check with solid 5 digit amount on it. I have made 4 and 5 digit deposits in the past but this was my largest. And I think the branch manager at my 1st attempt got little cautious because I asked if the funds can be available without any hold.

On my 2nd attempt, I did not ask anything for the hold and the computer decided to make all money available within 5 business days in 3 installments. It wasn't too bad. I can live with it.

sggujju said: [Q]Well, this topic got kind of interesting. One more thing to consider for my original post is that the check was CC Bal Txfr check with solid 5 digit amount on it. I have made 4 and 5 digit deposits in the past but this was my largest. And I think the branch manager at my 1st attempt got little cautious because I asked if the funds can be available without any hold.

On my 2nd attempt, I did not ask anything for the hold and the computer decided to make all money available within 5 business days in 3 installments. It wasn't too bad. I can live with it.

Just out of curiosity, could you clarify for me exactly what type of check it was? Was it a Teller's Check, Cashier's Check, etc.? Since these types of checks should have no holds at Citibank, did they say the hold was because it was a third party check?

It was a balance transfer check from my citibank credit card written (printed) to me. You are right, Cashier's check shoudn't have any hold at any bank. In my case, the reasons for hold were 1. Amount and 2. out of state check I guess.

dcwilbur said: [Q]ananthar said: [Q]Depositing checks into another persons account (without that other persons permission) is perfectly legal in most countries and used to be legal in USA until some Politician in the 70s claimed he was framed when some political campain contributions from some mobster showed up in his campaign account. So Congress overreacted (as usual) and outlawed all deposits without the accountholders consent.Care to post a reference for this remark? Are you saying that it is illegal for me to write a check out to "Ananthar" and walk into your bank, write your account number on the back, and give it to the teller for deposit?

Yes that would be illegal in USA and the bank would refuse to deposit the check without the account holder "ananthar's" signature (either as an endorsement or on a deposit slip). Ever wonder why you can't do EFT "push" transactions to any account other than your own ? Or can't pay a buisness by EFT "push", except by authorizing the buisness to initialize an EFT debit against your own account, which requires you to trust the buisness with your account number ? Even Palpal cannot legally just transfer the money emailed to you by a third party into your bank account, until you personally agree to receive each deposit by logging in online and confirming the receipt of the money.

sggujju said: [Q]It was a balance transfer check from my citibank credit card written (printed) to me. You are right, Cashier's check shoudn't have any hold at any bank. In my case, the reasons for hold were 1. Amount and 2. out of state check I guess.

Thanks for the reply.

Out of state check? You just said it's from Citibank CC? So wouldn't that mean the check is being drawn on itself, i.e. Citibank?

I think the more likely reason for the hold is because the name on the check (your name) doesn't match the name on the account (your wife's name) making it a third party check. As for the amount, that's at the discretion of the bank. As I've posted, I got immediate availabilty on a $200K cashier's Check last month.

FYI, Cashier's Checks usually have next day availabilty at other banks (amounts over $5K). Citibank instituted an improvement to their Funds Availabilty Policy starting October, 2006, giving immediate availabilty to these types of checks. To my delight I might add since I deposit alot of Cashier's Checks.

ananthar said: [Q]dcwilbur said: [Q]ananthar said: [Q]Depositing checks into another persons account (without that other persons permission) is perfectly legal in most countries and used to be legal in USA until some Politician in the 70s claimed he was framed when some political campain contributions from some mobster showed up in his campaign account. So Congress overreacted (as usual) and outlawed all deposits without the accountholders consent.Care to post a reference for this remark? Are you saying that it is illegal for me to write a check out to "Ananthar" and walk into your bank, write your account number on the back, and give it to the teller for deposit?
Yes that would be illegal in USA and the bank would refuse to deposit the check without the account holder "ananthar's" signature (either as an endorsement or on a deposit slip).
I'm not sure where you got your information on this particular point, but it is way off the mark. In the scenario DCW gave, your bank would deposit the funds in your account whether or not you signed the check. The answer lies in Section 4-205 of the Uniform Commerical Code. Every state has adopted Article 4 of the UCC, but not every state has adopted the same version of it, so there are two versions of that section still floating around.

In the older version, a bank is allowed to supply a missing endorsement for one of its own customers. In one of these states, the bank simply stamps an endorsement for you and deposits the money in your account. The bank's endorsement generally reads to the effect of: "Credited to the account of the within named payee absence of endorsement guaranteed." The exception is when the check actually states that "payee's endorsement required" -- in that case, the bank would be unable to endorse your unendorsed check.

In the updated version of Section 4-205, your bank is no longer required to physically supply an endorsement before depositing a check made out to you in your account. The endorsement area on the back of the check remains forever blank, but you get paid anyway.

Don't believe me? Mail a check made out to yourself to your bank. They will deposit it. When you get back the image of the check, pay attention to whether the endorsement area was stamped by the bank or left blank.

ananthar said: [Q]dcwilbur said: [Q]ananthar said: [Q]Depositing checks into another persons account (without that other persons permission) is perfectly legal in most countries and used to be legal in USA until some Politician in the 70s claimed he was framed when some political campain contributions from some mobster showed up in his campaign account. So Congress overreacted (as usual) and outlawed all deposits without the accountholders consent.Care to post a reference for this remark? Are you saying that it is illegal for me to write a check out to "Ananthar" and walk into your bank, write your account number on the back, and give it to the teller for deposit?Yes that would be illegal in USA and the bank would refuse to deposit the check without the account holder "ananthar's" signature (either as an endorsement or on a deposit slip). Ever wonder why you can't do EFT "push" transactions to any account other than your own ? Or can't pay a buisness by EFT "push", except by authorizing the buisness to initialize an EFT debit against your own account, which requires you to trust the buisness with your account number ? Even Palpal cannot legally just transfer the money emailed to you by a third party into your bank account, until you personally agree to receive each deposit by logging in online and confirming the receipt of the money.Ummm, in a word, NO.

dcwilbur said: [Q]chocula said: [Q]dcwilbur said: [Q]Legally speaking, an endorsed check is a negotiable item.But that has nothing to do with a bank accepting if for deposit.

Get the depsoit guidelines for your bank. I am sure that it will either say they do not take them for deposit or the exception may be made.What the bankers say...

I go back to my earlier statement that if a bank ever refused my deposit, I'm taking my business elsewhere.

Hmm, so you take someone's opinion instead of facts from a bank:

Bank Of America Policy, Page 19, Bottom Right

I do not have time to find other bank's information, but will later.

I personally listen to what my bank states and prints instead of some guy's opinion.

BTW, they also list that they can accept deposits from 3rd parties into your account. NO, it is not illegal.



Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.

Thanks for visiting FatWallet.com. Join for free to remove this ad.

TRUSTe online privacy certification

While FatWallet makes every effort to post correct information, offers are subject to change without notice.
Some exclusions may apply based upon merchant policies.
© 1999-2014