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hey everybody let's talk a little bit more about cheque endorsements if you saw part one last week you probably heard that I said I've been getting a lot of questions via LinkedIn in YouTube about the EIP checks more specifically about the endorsements of those checks among a few other topics in relation to eip payments well in today's class let's discuss more on cheque endorsements stay tuned [Music] last week we went over the types endorsement I told you the easy way to remember the types of endorsements are using the phrase forging a cheque will put you behind bars with bars being our acronym and that acronym is for blank anonymous restrictive is special C with the B for blank that's where we only have a signature that a for anomalous that's where someone else is actually signing the back of the check because we're depositing it at their financial institution oh then that are for restrictive this is the one we see most commonly used and if you're using your phone to deposit a check and it will probably be something like for mobile deposit only followed by your signature then we have the S we're special but it could also be for signing it over to somebody else now that you know you can sign the check over to somebody else which is effectively paying that person with the check you receive it's kind of saying you get to have my money that this check is worth not really the ideal way to pay somebody but it can be done if you are looking to sign a check over and I have this question specifically then write pay to the order of your signature and then name the new payee also make sure you check with your bank or credit union make sure it's alright now let's say you're John Doe the new John Doe right to pay to the order of Michael Smith and then also sign your name got it all right hope South another part endorsements is to know what names have to actually endorse the check it depends on how the check is made who it's made to when there is only one piggy named on a check that one person alone has the rights to the check and they are they want to endorse the check so let's say the check is made up to John Doe well guess what then John Doe is the one that needs to sign the check he's the one that's going to endorse the check questions have been coming in though about multiple pages so what happens when multiple payees are listed ownership of the funds really depends on how the remit er person who wrote the check wrote it so if the names are connected by the word and all pays must endorse the check for example let's say it says John Doe and Jane Doe then both John and Jane Doe have to sign because it says and if the names are connected by the word or well then only one of them have to sign so again it's made out the John Doe or Jane Doe then only one of them passed the Sun and to make things really fun what if the check reads and/or one or all of the pays may sign so it can be either John Doe or Jane Doe or both then to make things really really really fun let's say what the names are simply listed maybe they are connected with commas no words well then it's going to be at the bank or credit unions discretion to interpret if the payee designation is supposed to be an and or an or it's up to them and boys tell people to be safe have all payee sign when you came but depending on if it's and or an or they may not all have to be there check endorsements knowing who is to place the endorsement all of that is very important in depending on the situation it will depend on how the endorsement must be there and who has to actually sign depends on how the check was made or if it was written now if you are someone wanting to know how to place an endorsement on a check or who needs to endorse a check and you're unsure my advice is contact your bank or credit union and ask them how they would like it to be placed if you are the baby for a credit union and you're unsure of being able to accept the check with that certain type of endorsement then you should contact either your payment association maybe your legal possibly even your compliance department sometimes might need to get all three because you don't want to be processing checks at well our processed incorrectly the pain is Professor I'm here to serve you and if you have questions you'd like answered ideas for videos and leave a message a comment or email me Kevin and payments professor calm as I said this class was created based on requests from people like you if you want even more payments professor you can always go to the payments professor website and of course there's the YouTube channel where we upload most of our videos for you because we are here to serve you