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Money and Finances
Reply to "Writing "For Deposit Only" on the back of a check - is there any point?"
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[quote=Anonymous]It's been over a decade since I worked as a bank teller but back then, if you wrote for deposit only, it could only be deposited into your account, no cash back, no depositing into someone else's account, etc. So if you're sending your untrustworthy kid to deposit checks for you, it was an added safety check. If you just signed it without the for deposit only statement, someone else could cash it or deposit it into their account. I've had some bank tellers require it for checks I'm cashing which doesn't make sense but whatever. [/quote]
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