Signing over a cheque possible?

[quantum]

Firstly hi everyone! I've been learning a lot here for the last few months but finally posting now!

I'm looking forward to my first Google cheque for November earnings and I was wondering if this is an alternative to cashing it at my UK bank.

My mum lives in the US and she says I can sign the cheque over to her to cash at her bank. Apparently I just need to sign something on the back of the cheque but she will check with her bank first.

Is this actually possible and does anyone have any experience of this?

[Birdman]

Yes, it's true. I know because I do it alot. I'm in US, I just don't like banks ;)

[lonelyani]

Hey Birdman,
Could you pls explain the process how you encash the check in US?
I think it'd be helpfull for some of us.

Thanks.

[Birdman]

Sure,

One important fact...the check is written to my personal name, not a business.

I simply sign my name on the back, as it appears on the front of the check. Then hand it over to the person who will be cashing it. They deposit the check in their bank account and you wait for the funds to clear(week or less). After funds have cleared, they may be withdrawn, etc..

Regards

[quantum]

Thanks Birdman. That's great I won't have to worry so much about the exchange rate and bank fees.

Btw does anyone how long a Google cheque can be held uncashed before it expires?

[lonelyani]

Thanks Birdman. It was really a great info.

quantum, usually a check is valid for 6 months from the issue date of the check.

[sandor]

careful though .. some banks don't allow third party encashments .. ie. you can't sign over a cheque to their customer .. they won't cash it .. they'll only cash it if the payee is cashing it or depositing it to their own account ... but some of this too is dependent on your relationship with your local bank

[Birdman]

sandor,

You may very well be right on that. Definately have the third-party call their bank and see if it's allowed before mailing the check accross an ocean!

Birdman

[ddent]

Once a cheque is endorsed (i.e. you sign it on the back), legally, it is as good as cash.

[semiprofessional]

I sent an endorsed cheque to a friend in the US (I'm in Oz) and they sent it back saying that there was no way that their bank would cash it.

[level80]

Yep post 9/11 the American banks have been leaned on heavily by the US government to reduce money laundering (extra ID checks if you open an account - even if you already have an account with the same bank etc etc). Hence perfectly legitimate things can seem fishy to a bank employee who's never seen you before and is suspicious of being conned. Of course if you're well known to all the cashiers it's a bit different ;) (I knew waiting ages when they filled out foreign currency cheque forms in triplicate for Google cheques would come in useful one day).

In general I have found posting a cheque to a bank marked "FAO Cashier" with a filled out paying in slip - eliminates the human "this looks dodgy" element. It also avoids queueing too.

[RobinK]

To be on the safe side after you sign it you can put either to (your mom's name) or put for deposit only and put her account number.

That way if it is lost no one else can cash it.