Personal Finance

Depositing a cheque with two names on it?

  • Last Updated:
  • Feb 4th, 2015 3:20 pm
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Deal Addict
Nov 26, 2005
3085 posts
249 upvotes
Vancouver
just need your wife's signature at the back of cheque
Member
Jan 6, 2007
310 posts
20 upvotes
what about cashing the cheque in one of these Cheque cashing stores, do they usually enforce proper id?
Deal Fanatic
User avatar
Feb 7, 2008
5753 posts
690 upvotes
Ottawa
chaoslord wrote:
Oct 15th, 2010 12:47 pm
what about cashing the cheque in one of these Cheque cashing stores, do they usually enforce proper id?

They charge you a fee to cash it...
Deal Addict
User avatar
Aug 9, 2009
4682 posts
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reviving old thread. I want deposit a cheque with two names on it onto my tangerine account with only my name. Would it work with the cheque in deposit app?
Sr. Member
Apr 28, 2014
675 posts
174 upvotes
Oakville, ON
azncapcom wrote:
Feb 4th, 2015 9:44 am
reviving old thread. I want deposit a cheque with two names on it onto my tangerine account with only my name. Would it work with the cheque in deposit app?
The Terms and Conditions of Tangerine "Cheque-In" says you are not supposed to do that:

http://www.tangerine.ca/en/legal/mobile ... index.html
4. Cheque Criteria

You agree to the following whenever you use Cheque-In to deposit a cheque remotely.

Only paper cheques that are made payable to you directly can be deposited using Cheque-In. We will not accept a cheque that was payable to someone else and endorsed over to you.
Each cheque must be in the standard format approved by the Canadian Payments Association. The date, drawee institution, payee, amount in words and figures, signature of the Payor and magnetic ink character recognition (MICR) information must be clearly legible.
Each Image captured through Cheque-In must be a picture of the original paper cheque, not of a photocopy or printout of an electronic copy.
Only send one accurate and clear Image of the front and back of each cheque you want to deposit.
Your remotely deposited cheque is considered received by us when you receive an email from us confirming the deposit. However, this does not necessarily mean that Tangerine has accepted the cheque for deposit. We reserve the right to reject a cheque for deposit if the Image does not meet the above requirements.
CIBC has similar language in their Mobile Deposit agreement:

https://www.cibc.com/ca/agreement.html
Eligible items: You may image and deposit any of these original paper items issued by a bank located in Canada and payable in Canadian currency: cheques, bank money orders, bank drafts, convenience cheques and certified cheques. You agree you will not image and deposit any of the following:

Items payable to any person or entity other than the person or entity that owns the Account that the item is being deposited into.
Items which have been altered on the front, or which you know or suspect, or should know or suspect, are fraudulent.
Items payable jointly, unless deposited into an Account in the name of all payees.
Items drawn on a financial institution located outside Canada.
Photocopies, PDFs or other printouts of items.
Items which are postdated or dated more than 6 months prior to the date of deposit.
Items with any endorsement on the back other than that specified in this Part I.
Items which have been already deposited through CIBC eDeposit, a remote deposit capture service offered at any other financial institution, or any other means.
However, as a CIBC rep confirmed to me on Telephone Banking, nobody reviews the images of cheques submitted through their Mobile App before they are submitted for clearing. For example, if I write NO MOBILE OR ELECTRONIC DEPOSIT on my cheque, and someone uses a Mobile App to deposit it, it will still be processed; it won't be rejected.

Moreover, banks cannot prevent Duplicate Items from clearing accounts (i.e. someone uses Mobile Deposit with various banks to deposit the same cheque multiple times.)

I don't know how strictly Tangerine enforces the rules. If you try it, best case scenario is nothing comes of it. Worst case scenario, Tangerine does reject the deposit, and then takes away your Mobile Cheque Deposit privileges.

Your call.

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