Path: utzoo!mnetor!tmsoft!torsqnt!hybrid!scifi!bywater!uunet!bu.edu!telecom-request From: henry@garp.mit.edu (Henry Mensch) Newsgroups: comp.dcom.telecom Subject: Re: 'Free' Check in the Mail Message-ID: <74428@bu.edu.bu.edu> Date: 10 Feb 91 22:49:43 GMT Sender: news@bu.edu.bu.edu Reply-To: henry@garp.mit.edu Organization: TELECOM Digest Lines: 25 Approved: Telecom@eecs.nwu.edu X-Submissions-To: telecom@eecs.nwu.edu X-Administrivia-To: telecom-request@eecs.nwu.edu X-Telecom-Digest: Volume 11, Issue 109, Message 9 of 10 Fortunately, many (most) banks will accept checks for deposit *without* endorsement ... # Henry Mensch / / E40-379 MIT, Cambridge, MA # / / # via X.400: S=mensch; OU=informatik; P=tu-muenchen; A=dbp; C=de [Moderator's Note: This is true, however the bank in that case acts as your agent; assumes to act in your best interest and endorses the check for you with one of their own. You must have seen something similar to this on the back of a check: "Pay to the order of the within named payee. Absence of endorsement guarenteed by XYZ Bank." Some smart-alecks might suggest at this point MCI has the right to convert the bank's phones to MCI one-plus. Of course what it really means is in the event the payor refuses to pay based on the lack of a 'qualified and complete endorsement' the bank will accept the check back and in turn charge it back to your account. Most parts of a check can be omitted without too much hassle. I've received checks the issuer 'forgot' to sign. Where the signature would go (but is missing) I rubber-stamp a message: "Signature guarenteed by Patrick Townson". I've never had a check marked that way be returned unpaid. If I did, then I'd be no worse off than before I put it in. PAT]