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Subject Author Date
Unsigned Check to IRS Larry Israel 06-30-2008
Posted by Seth on July 5, 2008, 2:22 pm
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>Banks don't routinely check the signature on small value checks, it is
>cheaper for them to take the occasional hit for mistakes or fraud than
>to verify millions of checks each day. That's quite different from a
>bank noticing the missing signature, stamping it "refer to drawer"
>then still paying it. An unsigned check is not a valid instrument.

Did the bank stamp that, or the recipient?

I forgot to sign a check, and it went through anyway, with something
like "lack of endorsement guaranteed" stamped on it by the phone
company.

Seth

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Posted by Stuart A. Bronstein on July 5, 2008, 2:29 pm
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 sethb@panix.com (Seth) wrote:
>
>>Banks don't routinely check the signature on small value checks,
>>it is cheaper for them to take the occasional hit for mistakes or
>>fraud than to verify millions of checks each day. That's quite
>>different from a bank noticing the missing signature, stamping it
>>"refer to drawer" then still paying it. An unsigned check is not a
>>valid instrument.
>
> Did the bank stamp that, or the recipient?
>
> I forgot to sign a check, and it went through anyway, with
> something like "lack of endorsement guaranteed" stamped on it by
> the phone company.

The endorsement is not the same as the signature of the maker. As
someone else mentioned earlier, an unsigned check is technically not
good. A signed check without an an endorsement is good. The issue is
who guarantees the recipient gets paid.

Stu

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

Posted by Seth on July 6, 2008, 4:18 pm
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>sethb@panix.com (Seth) wrote:

>> I forgot to sign a check, and it went through anyway, with
>> something like "lack of endorsement guaranteed" stamped on it by
>> the phone company.
>
>The endorsement is not the same as the signature of the maker. As
>someone else mentioned earlier, an unsigned check is technically not
>good. A signed check without an an endorsement is good. The issue is
>who guarantees the recipient gets paid.

Good point. It was more like "lack of signature guaranteed", stamped
by the phone company.

I suspect that the bank at most saw there was something on that line
(if they even looked, not likely for a 2-figure check) and let it go
through.

Seth

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

Posted by Larry Israel on July 6, 2008, 4:48 pm
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In my case, all's well that ends well. But I don't know whether to be annoyed
that the bank honored an unsigned check, or be happy that the check wasn't
returned, making the payment even later than it already was. Or both.

========================================= MODERATOR'S COMMENT:
- given those choices, I'd pick "happy".

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

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