Is it OK to write for deposit only instead of signature?
For extra security, you can still write “for deposit only” in the endorsement area. Technically that's not an endorsement, but most banks and credit unions would be reluctant to cash that check for anyone.
This type of endorsement includes your signature and the words, "for deposit only." A check endorsed this way can be deposited into a bank account but not cashed. If you write "for deposit only" and include a bank account number, the check can be deposited only into that account.
If you're uncomfortable with someone else seeing your bank account number, you can write, “For Deposit Only” and then sign the check. This is a less secure option than including the account number, but most banks will follow the instructions and only accept the check for deposit.
You typically only need to sign a deposit slip when you want cash back from your deposit. If you're only depositing funds, you don't need to sign the deposit slip. If you're making a deposit through an ATM, you may not need a deposit slip at all, so you won't need to sign anything.
You agree to endorse all Items that you deposit via the Service with your signature and to include the words "For deposit only at Bank of America," or "For deposit only at Merrill," as applicable.
A restrictive endorsement includes not only the signature of the endorser but the words “For Deposit Only” and the bank account number or financial institution in which it is to be deposited. This prevents anyone else from cashing or depositing the check into an incorrect account or institution.
You can include your business name and bank name on the stamp even though these are not requirements. Including this information prevents misdirection of the check to another bank or account. You may also include your bank's location and/or bank number on the stamp.
Write your initials next to the corrected mistake.
Write them as close to the corrected mistake as possible so that the bank is more likely to accept your correction. Use all three of your initials (first, middle, and last) if possible to indicate that you have approved the change.
If you're the named Payee on the check, then of course you can deposit it without an endorsement. If you endorse it as "for deposit only", then someone else who gets ahold of it can't deposit it into their own account (because you're the payee, not them).
Due to a new banking regulation, all checks deposited via a mobile service must include: “For Mobile Deposit Only” handwritten below your signature in the endorsement area on the back of the check or the deposit may be rejected.
What is legally required in a signature?
All that needs to be is some mark that represents you. It can be a series of squiggles, a picture, or even the traditional "X" for people who can't read and write. As long as it records the intent of the parties involved in a contractual agreement, it's a valid signature.
1. A check must be endorsed on the back for it to be valid for deposit. So, always sign your name in the blank space next to the X just before you bring it to the Bank.
Information generally found on deposit slips includes: The date on which the deposit is being made, the name of the depositor, the account number to which the funds will be deposited, the name of the account holder, the type of deposit (cash or check), and in some cases, the source of funds.
Endorse the check before depositing
If the check you are endorsing doesn't have this, be sure to write 'For Mobile Deposit Only' or the version of this statement that your bank requires under your signature.”
Most major banks also offer an app that allows you to instantly deposit scanned checks by taking a picture of them. You can use this app to deposit your printed check or the digital version. Some services allow you to instantly deposit emailed checks by entering your banking information into a secure online form.
You can deposit a check with someone else's name on it if they've signed it and either made it payable to you or written “For deposit only” under their signature on the back.
Do not assume from a bank's request for signature cards that it is checking signatures. Banks do not verify signatures. Occasionally, they will spot check the signature on a check or pull a very-large-dollar check to verify the signature. The emphasis here is on the word occasionally.
Write today's date and your account number on the slip. List the check(s) you're depositing with the amount, check number, and your endorsement on the back. Add up the check amounts and write the total deposit. Verify that the information is accurate.
If you mess up – like making a spelling mistake – don't worry. Cross out the mistake, then add your initials. Try to make a clear line through the mistake, instead of scribbling it out. Once you've done this, you can endorse the check like normal.
Write "For Deposit Only" on the top endorsement line.
If someone finds your check, they won't be able to do anything with it.
What size should a deposit only stamp be?
Professional Deposit and Endorsement Stamps
1 in. × 1 5/8 in. Up to 5 lines of text.
Bank endorsement stamps, also known as deposit stamps, are used to indicate that a check or other financial document has been deposited into a bank account. The stamp is usually placed on the back of the document or check and includes the words “For Deposit Only”, the bank name, and your account number.
Can I still cash it? Generally, the bank or credit union will likely either not accept the check or return it to you. You will have to get the person who gave you the check to sign it before you can cash it.
Yes, banks typically verify signatures on checks, but the process and rigor of verification can vary. The signature on a check is a fundamental component that banks use to authenticate the transaction.
If you write “for deposit only” on the back of a check made out to you and then sign your name, the check can only be deposited in your account. This is called a “restrictive indorsement,” and it should prevent you or any other person from cashing the check.