I live in CA, and want to know if I can have my brother open a bank account in his name but have my payroll checks deposited into his account. I know I can open my own account, I just do not want to. BTW our names look almost exactly the same (first middle and last). Thanks for all responses!
2007-12-19 03:52:35 · 13 answers · asked by lovelyrj7 4 in Business & Finance ➔ Personal Finance
I just emailed payroll and they said yes I can do this. I am not worried about taking money out because my bro will just give me the ATM card to use at the atm but I wont use the card at stores. My last question, does Washington Mutual or Bank of America allow this practice? Anyone work for these banks? or any other Southern CA bank? Thanks again!
2007-12-19 04:11:38 · update #1
Yes you can, you can divide your check up as you please. you can have different amounts or percentages go to different accounts. I have $100 go to my moms account each pay period and then of the balance I have 75% go to my account and 25% go to my husbands account, which we use for savings. It's your money and you can dispense of it any way you like....they just need your signature approving it so they don't get in trouble. I'm in CA too......hope I helped :)
2007-12-19 04:02:02 · answer #1 · answered by alexl96 2 · 2⤊ 0⤋
Yes, of course you can do this. All you need is an account number and routing number. Everyone who said no, doesn t know what they are talking about. I especially liked the comment that says this is "against US banking laws and regulations" but doesn t cite which regulation. I m not only a regulator, I have a portion of my check deposited into my girlfriend s account. We set it up online. Nobody at the bank cares.
2016-05-17 10:02:38 · answer #2 · answered by Ed 1 · 1⤊ 0⤋
Yes, you can. Some banks can be sticklers about it- But as long as yu have the info, you can deposit into ANY acct. You cannot withdraw from any acct.
Fill out the paperwork and it will work out just fine
2014-07-26 04:49:28 · answer #3 · answered by Hayfa 1 · 1⤊ 0⤋
Usually when you do a direct deposit of a payroll, they don't even know who the owner of the account is. They just deposit the money. Just bring a check from your brothers checking account that doesn't have his name imprinted on it. For example starter checks don't come with preprinted names. This is to eliminate any questions from your employer. Even if they ask you just tell them it's a joint account and you prefer to not have your name on the check. They'll never know.
2007-12-19 03:57:30 · answer #4 · answered by Jen 3 · 3⤊ 0⤋
Depending on the company. You may want to check with your payroll department to see if that is possible. It may also depend on the type of account (checking or savings).
Another stipulation which may factor in is the bank. Most banks will allow a "deposit only" transaction. However you may not be able to withdraw funds unless he adds you to the account (Joint Account).
2007-12-19 04:04:04 · answer #5 · answered by Sub Zero 3 · 0⤊ 0⤋
I am a landlord and I don't want to go over and pick up my rent checks. I would like the tenants to go to their bank and set up an automatic deposit from his account to mine. How do you do that?
2014-09-21 04:28:32 · answer #6 · answered by patsy 1 · 1⤊ 1⤋
You'd better trust your brother 100% because if your name is not on the account, then he can clean out the account at anytime he wants and there will be absolutely nothing you can do about it!!.
Also, technically, by U.S. banking laws and regulations, it is ILLEGAL for you to put your paycheck, or direct deposit into another person's account. Also, if your bank notices this, they have the right to refuse to accept that direct deposit!
There may also be a problem with the bank. Most banks will not accept direct deposits if that person is not on the account. That means it will take 3-5 days for your employer's bank to be notified that the deposit DID NOT go through. Then they will have to issue a check. Unless you have an account somewhere, or your employer uses a local bank, you will not be able to cash your check without paying a fee!! Just open your own account and save everyone a bunch of trouble!
Lastly, it sounds kind of fishy to me that you know you can open an account of your own but that you just don't want to!
2007-12-19 04:34:02 · answer #7 · answered by terribrooke 5 · 2⤊ 7⤋
Yes, you can. If you provide the banking info they will deposit the cheque wherever you want. They don't care where it goes, as long as it goes somewhere.
2007-12-19 04:00:46 · answer #8 · answered by slimmyjoe 3 · 4⤊ 0⤋
Yes, you can but unless you are trying to hide from creditors or the IRS, there's no advantage and lots of disadvantages. You won't have easy access to the funds and your brother could simply spend all your money.
2007-12-19 04:00:01 · answer #9 · answered by bdancer222 7 · 2⤊ 1⤋
No. They do verify the name on the account it's being deposited into and that must be the same as the payee. I work at a bank. Have your bro add your name to his account. that should work.
2007-12-19 03:59:05 · answer #10 · answered by Anonymous · 0⤊ 4⤋