# Cashing joint cheque in single bank account



## Four Pillars

My wife and I received a bank draft which is made out to both our names. Problem is that we don't have any accessible joint accounts - the only one we have is ING which means we have to mail it somewhere.

Can you deposit a joint cheque into a single person account if the other person signs something or is there in person?

Anyone ever done this?


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## the-royal-mail

If you do the deposit, just have her sign the back.

Or vice versa.


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## Dana

If it is a chq from an insurance company or a lottery win, then absolutely not, the bank would actually have to open a joint account just to negotiate the chq. 

If it is a small amount then I would just have her endorse the back and deposit it via ATM. 

If you both bank at the same FI they will likely negotiate the chq with both of you present. In recent years, banks have become very careful about this as some people try to avoid using their own accounts (if they have a judgement, the account is frozen or they have a poor history with the FI) by having chqs issued jointly. 

If you or she has a good relationship with someone at your bank, go in together, the non-account-holder should bring ID and ask the bank to negotiate it.


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## Potato

I've never had any trouble just depositing a joint cheque into either account of one of the people named, didn't even have the other person sign the back.


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## kcowan

We had a big cheque (over $10k) issued to us from a brokerage when we closed out our joint account with them. It took both of us going into the bank branch and signing the cheque in front of them. They said it was a new policy. This was several years ago. We both had individual accounts with the bank but in different branches.


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## Jungle

Just call the 1800 number on the back of your bank card and ask. 

I've deposited joint cheques into a single name bank account. Used the ATM. Nothing has ever come back, we do this regularly. Amounts were only a few hunded dollars.


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## Four Pillars

Thanks for all the replies. It's for $5k and it's a bank draft (not a chq).

Not sure if I should try the sign-the-back/ATM move or get the issuer to make a new one for us in one name.


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## Sustainable PF

Potato said:


> I've never had any trouble just depositing a joint cheque into either account of one of the people named, didn't even have the other person sign the back.


Same here. When Mrs. SPF and I were married we received a number of cheques as gifts that were signed to us under my last name even though Mrs. SPF had yet to change her name legally. No problems depositing the cheques.


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## Racer

This is out of my comfort area, but if I were to guess:

Yes, strictly speaking, the wife should endorse before depositing to the husband's account. 

But in practice, the banks (and the cheque drawer/issuer/payor) would rarely have a problem with the wife's failure to endorse, as long as it was a small amount. It's one of those things where it's not lawful _per se_, but at a practical level: who's really going to complain about it? 

This dilemma arises in estates law in various ways. _I.e._, when one of the payees have lost capacity but the cheques keep coming (and pre-authorized payments siphon that money out) -- or there's an account that should require both signatures before money can be drawn, but the bank rep lets it slide with only one signature. Then it's all got to be sorted out later. Or not sorted out, if there's no money left to chase, and someone is left with absorbing the loss. 

Here's the (dry, dense, patchwork) statute that governs cheques and their endorsement: http://www.canlii.org/en/ca/laws/stat/rsc-1985-c-b-4/latest/rsc-1985-c-b-4.html. I believe the common law has developed a comprehensive gloss of this statute over the years.

If I recall correctly, one of the stranger things about cheques is that when you endorse a cheque made to you by adding your signature, it is as though you wrote the cheque in the first place. So if the first author of the cheque defaults, the bearer can seek satisfaction from you and the lack of funds becomes your problem.


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## Four Pillars

Update - my wife signed the back of the bank draft, I deposited into my account and it went through no problem. 

Thanks for all the comments.


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## MikeT

Racer said:


> If I recall correctly, one of the stranger things about cheques is that when you endorse a cheque made to you by adding your signature, it is as though you wrote the cheque in the first place. So if the first author of the cheque defaults, the bearer can seek satisfaction from you and the lack of funds becomes your problem.


Unless you include the words "without recourse" after your endorsement.


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## kcowan

MikeT said:


> Unless you include the words "without recourse" after your endorsement.


So is this another way to avoid internet stings?


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