How to endorse a check correctly?

There are different ways of handling or collecting money and one of them is through checks, commercial documents that are used as a means of payment that are issued and signed by a person so that a financial institution pays the amount consigned in the same to another individual, as long as they have funds in the account assigned in the check. However, to carry out the process you need to endorse the document. For this reason, we offer you the steps to follow to proceed with the process.

What does it mean to endorse a check?

To endorse means to transmit in favor of another holder a check, a bill of exchange or a promissory note. In short, to endorse a check is to transfer the amount of the document to a third person.

How do you endorse a check correctly?

To endorse a check, follow these steps:

• The beneficiary must write on the back of the check his name, ID and sign it.
• If the check is in my name and I want to deposit it into my bank account, on the back of the check I put my name, ID and my account number.
• If I have a check in my name and I want to cash the cash, I put my name and ID number on the back of the check.

What checks can be endorsed?

Only checks are endorsed that are in the name of the bearer and the nominative ones, which bear the written name of the beneficiary. Rather, a check stamped “not negociable”It cannot be endorsed, it can only be collected by the person to whom it was issued. This rule protects the check issuer from being cashed by third parties.