Banking related question

[tyr_shadowblade]

I recently moved across country to Colorado and started a new job just over a month ago. Have not yet opened a bank account. Have signed my paychecks over to my fiancee who has deposited several in her account without any problems.

Today I signed over a small check I received in the mail, and the teller at her bank refused to accept it. He stated that "a new law passed on June 24th" prevented banks from accepting signed over checks anymore. I tried Googling this and could find no such reference anywhere.

I know that bank policies may vary, but was unaware of any law prohibiting 3rd party checks.

Also, if I do not currently have an account, is the bank the check is drawn upon obligated to cash it (provided the funds exist and valid photo ID is provided). And would I be able to do so at any branch or just that specific branch?

I'll be getting an account real soon, but am counting on cashing my next check ASAP with minimal BS whatwith to facilitate the immediate purchase of a motorcycle which I'm supposed to take delivery of several days after my next payday.

What sayeth y'all?

 

[JD Mandrell]

IToday I signed over a small check I received in the mail, and the teller at her bank refused to accept it. He stated that "a new law passed on June 24th" prevented banks from accepting signed over checks anymore. I tried Googling this and could find no such reference anywhere.

I could not find anything either, my sister is loan and trust officer with a bank, I will ask her to check and see if they have heard of it.

Also, if I do not currently have an account, is the bank the check is drawn upon obligated to cash it (provided the funds exist and valid photo ID is provided). And would I be able to do so at any branch or just that specific branch?

If the check is written on a valid account at "bank A", then any branch of "bank A" must honor it if the funds are available.

 

[JD Mandrell]

Talked to my sister, and if there is a new "law" against depositing 3rd party checks, no one at her bank has heard it.

She did say, that more and more banks are starting to refuse them on their own, due to fraud and that the teller your dealing with, probably just claimed it was a new law, instead of admitting it was their bank policy.

She said her bank will no longer even cash state checks such as unemployment checks unless the person is a long time account holder with them, because of a new scam of people cashing them, then immediately reporting the check "lost", the state issues them a new check, and stops payment on the "lost" one, and the person ends up getting double the money and the bank is left holding the loss on the original check.

 

[beau5278]

I think some of it has to do with states also,I was told a few years back about a similar law in New York.I couldn't get banks to cash checks made out to my business,even the bank that it was drawn on and banks in New York won't cash or even leave me deposit a check that is made out to Butch Smith because it isn't the name on my checking account but I don't have any trouble with the same banks in PA,I just endorse it with both names.