cashiers check rule?

Question

i made a cashiers check to myself with a bank.... is it possible if i sign the back of it, and have someone else's name sign, too... then that person can cash it out instead? bank requires it to be deposited back to my account. is it true if cashier's check has 5000 dollars, you don't have to fill out some ira(?) form, etc.?

Answer 1

I would just purchase another check in the other persons name. No a bank will not accept a cashiers check with someone elses signature.

Answer 2

let's be clear here ... what, exactly, are you trying to do?

if you are trying to pay someone else $5,000 with whatever assurance that a Cashier's Check provides them that the funds are real and collectible, endorsing the check to them will work. I'd suggest endorsing (on back) the check as follows: "Pay to the order of XXXXXX" and then sign your name.

If you are trying to do something else, please ask a clearer question.

**
And no, banks are not required to report deposits of less than $10,000 to the US Treasury. Note that I said 'required' -- they are free to make such a report if they suspect something fishy is going on such as money laundering. The $10,000 applies to the whole deposit transaction or series of transactions, not each single check.


does this help?

Answer 3

another person can cash it only if the check is made out to 2 people.

Example:

Payable to: Debbie Smith OR John Smith

As long as it says OR, then either person can cash the check.
If it were made payable to Debbie Smith AND John Smith then both people would have to sign the back of the check.

Answer 4

hard factor. lookup with yahoo. just that will help!