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This is kind of a no-brainer question, but if I receive my paycheck, then endorse it to my friend (and he deposits it in his own bank account, which happens to be the same bank company) will my bank account show that I've endorsed money to someone else?

2007-03-26 16:51:52 · 2 answers · asked by Anonymous in Business & Finance Other - Business & Finance

2 answers

The quick answer is "no." Your check information will never appear in your bank account. The record of the check is in two places: the account of the person you sign it over to and your employer's account at the bank where the check is payable once it has cleared. Even though you have the same bank as your friend they will not be able to give you any information regarding your check because you don't have any legal right to information regarding his account.
If you need a record that you are giving money to your friend the smart thing to do would be to deposit your paycheck into your own account and then write him a check from there. You would then have a record of the funds going into your friend's account.
If you need to prove you've already done this and your friend won't get copies of the transactions from the bank your only real recourse is to see if your employer can get copies of the signed checks for you on their end.
I hope you aren't trying to hide your earnings. Those are (should be) reported in some form already by your employer and it doesn't matter what your bank account shows if the government wants to know how much money you're earning.

2007-03-26 17:08:11 · answer #1 · answered by Jenny S 3 · 0 0

In the situation you described, I would say know. The
check you endorsed is not a recorded transaction in
your account. It will show up in his bank account.
The only thing your bank account is going to have
record of are those deposits and withdrawals that
flow in and out of your account. The transaction you
are talking about took place betwen you and your
friend.

2007-03-26 23:59:44 · answer #2 · answered by Northwest Womps 3 · 0 0

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