Signature on the check ?

[appraisalondemand]

Don't deposit check

There is no way I could cash it at his bank.

But... I talked to Wells Fargo and they said, if you deposit it, they don't verify the signature on every check.

If it did not have a signature at all, that would be a big red flag.

So I'm going to deposit it at my bank, and roll the dice.

From now on, I'm going to check signatures.

Tom

Tom,
I think this is a BAD idea. Unless you really need the money in your account to cover your checks...even that would not be the best plan.

If WF is open tomorrow, I would go to that bank, if not wait till Tuesday. If they will not cash it, offer to open a checking account up if they will cash it. They may even call the borrower...

Good luck.

 

[Tom Foster]

I think tomorrow is a bank holiday ( Presidents Day )

So looks like I will have to wait till Tuesday to do anything with the check.

I feel that I should have noticed the signature was not a name, but just the word "appraisal"

The guy wrote the check on the tailgate of his truck when the wind was blowing dust, I was talking, he needed my pen, his girlfriend was talking, my wife had to pee, we were hungry, etc.

I just slipped the check in my pocket and got out of there quick.

 

[PropertyEconomics]

Just deposit it. The only problem will be if the account holder (check writer) notifies his bank that the check is not legally signed and claims it was a forged document.

NOT TRUE ... banks check irregular signatures against signature card. That is how fraud is stopped and the bank will not honor this check.
Its obvious to me hes trying to steal an appraisal. Simple as that. Dont let him do it.

 

[CindyR]

NOT TRUE ... banks check irregular signatures against signature card. That is how fraud is stopped and the bank will not honor this check.
Its obvious to me hes trying to steal an appraisal. Simple as that. Dont let him do it.

If you believe that banks check signatures on checks you are sadly mistaken. They may check signatures on certain accounts that pay them extra to do that but they do not routinely check anything on the item unless payment is refused or it does not process through the system for some reason. Similarly, there may be provisions in place for high dollar checks on corporate bank accounts, for example, but that is not the case for a $300 check drawn on a personal account. I would assume the borrower made a mistake as he was writing the reason for the check and simply put the info in the wrong space.

If you truly believe the bank looks at your checks as they are presented for payment I encourage you to read the fine print of your bank's service agreement. And next time you write a check, just sign it Mickey Mouse and see what happens. Unless you notify the bank that it should have refused payment, that check will simply pass through your account. And, even then, if the bank believes you recieved the goods or services that Mickey signed for they will charge you with fraud and still charge your account.

 

[Dontbethatguy]

If you believe that banks check signatures on checks you are sadly mistaken. They may check signatures on certain accounts that pay them extra to do that but they do not routinely check anything on the item unless payment is refused or it does not process through the system for some reason.

I tend to believe they do check as I was stopped at the bank three times with checks from my previous supervisor. Not my fault he has 18 different signatures. On top of that I knew all the tellers, bank president etc., and they still had to verify by calling the office. No I dont look like a bum, Im not a known criminal, and they were not big checks.

 

[Tom Foster]

If you walk into the bank to cash it >> OH yes they will for sure check the sig.

If you deposit at your ATM it goes to their bank and a nice young lady calls the writer of the check and ask did you write a check to so and so for $350.

 

[Couch Potato]

I tend to believe they do check as I was stopped at the bank three times with checks from my previous supervisor. Not my fault he has 18 different signatures. On top of that I knew all the tellers, bank president etc., and they still had to verify by calling the office. No I dont look like a bum, Im not a known criminal, and they were not big checks.

How many of those are his own name?

 

[Tom Foster]

Well, its been almost 3 weeks now since I deposited that check with the funny signature. >> So far so good.

Tom

 

[Annelle]

Call the guy and have him do a direct deposit into your account, as the check is unacceptable. Add the fee your bank charges you to accept it. It sounds like he is deliberately delaying the payment. To have two mistakes on a check is very fishy. The bank may only credit you with $3 if they cash it. Do not do any more work on the report and certainly don't send it until you have the full payment.

 

[Annelle]

Tom your post came in while I was writing. If it has been 3 weeks, then I hope you have continued clear sailing