Check Deposit Question

[Bonny]

Last week I received a $50ish dollar refund from the condo's mortgage company. I'm assuming it's a small refund of interest collected in escrow during the sale process. The check is written to "Estate of Bonny's Mom" because the mortgage was taken out under my mom's name. However the money really is mine as I've been making the mortgage payments under my name for the last 9 years.

As Trustee and Executor of my mother's estate I closed the Trust and all bank accounts by 12/31/2009 therefore there are no "Bonny's mother's" accounts in which I can deposit this check.

I suspect the correct thing to do is send the check back to the issuing bank which has me on file as the authorized user and have them re-issue the check in my name. But that seems like a lot of hassle for such a small amount.

Do you think I can get away with just depositing the check into my account even though the names don't match?

[Tennesseer]

The mortgage company probably does not care who cashes it but the bank might. Bring it to the bank and ask them. If you are well known by the bank it might not be a problem.

Think of the amount of the check as a free breakfast someplace.  Have the mortgage company reissued it in your name if the bank won't cash it.

[dannylion]

Something similar happened to me after I had closed the accounts for my dad's estate.  The check was made out to "the estate of Dannylion's dad." I took it to my bank and showed them the certificate from PA that said I was the executor, explained that the estate was settled and the accounts closed, and they cashed it.   

Take it to your bank with whatever supporting documentation you have and see what happens.  The worst they can do is say no, at which time your plan to return it to the mortgage company to be reissued can become Plan B. 

[milee]

OMG, just deposit it at your ATM or through the most automated system you have access to.

Don't quote me on that, but FFS, it's $50.  Put it in, don't draw attention to it and for the love of God don't open up a whole can of worms by drawing their attention to it!  

[Deleted]

Aug 13, 2017 16:13:45 GMT -5 milee said:

OMG, just deposit it at your ATM or through the most automated system you have access to.

Don't quote me on that, but FFS, it's $50.  Put it in, don't draw attention to it and for the love of God don't open up a whole can of worms by drawing their attention to it!  

Yeah, this.  I accidentally wrote a check to one grocery store when I was in a different grocery store.  I panicked and called the store because I didn't want to pay a returned check fee.  They said not to worry about it because it would go through.  And it did.

This was YEARS ago when everything wasn't as electronic as now.

It will be fine.

[Bonny]

Aug 13, 2017 16:13:45 GMT -5 milee said:

OMG, just deposit it at your ATM or through the most automated system you have access to.

Don't quote me on that, but FFS, it's $50.  Put it in, don't draw attention to it and for the love of God don't open up a whole can of worms by drawing their attention to it!  

Yeah, I'm thinking we can probably do that with BofA's mobile app. We've had a few deposits rejected by USAA so I'm thinking their system is pickier

I know back when I worked in an accounting dept for a law office in the late 90s we would be writing about 100 checks which the partners would sign rather quickly. Sometimes they would forget to sign a check, we would miss it and out it went. The companies would always just process them through but the small companies would occasionally call to let us know. I'd tell them to just deposit with the rest of their checks as the banks never seemed to care.

However we usually got the right recipient's name on the checks.

[Tiny]

If it's NOT an out of state check from a small business (versus a bank) - I'd use the closest ATM to deposit the check. I'd ask the ATM for a printed receipt with a picture of the check (my favorite ATM has receipt options!) and I'd be done with it.

If this gives your moral compass the willies - then go talk to the bank rep where you would like to deposit it.

I highly doubt your 50ish dollar check put thru an ATM to your account will be an issue.

[Bonny]

Aug 13, 2017 16:48:42 GMT -5 Tiny said:

If it's NOT an out of state check from a small business (versus a bank) - I'd use the closest ATM to deposit the check. I'd ask the ATM for a printed receipt with a picture of the check (my favorite ATM has receipt options!) and I'd be done with it.

If this gives your moral compass the willies - then go talk to the bank rep where you would like to deposit it.

I highly doubt your 50ish dollar check put thru an ATM to your account will be an issue.

Lol, I once had a rent check eaten by an ATM. It was such a pain to deal with.

However I have no problem TAKING money from an ATM.

[Rob Base 2.0]

Have them remake the check.  "Bonny's Mom" is not an official name.  It needs to have a real person's name on it

[hoops902]

You might get away with it or you might not. We sent checks to estates all the time (which means sometimes sending checks to estates that are already settled and closed).  There are going to be different state rules and different levels of caring about those rules at different banks.

Heck, just endorse the back of it for deposit only and write in your name as the trustee...you'll probably be fine.  They're more likely to care about the endorsement than figuring out if the money belongs to "you" or not.  Who is going to complain on the backend to make them take another look?  Nobody. 

[CCL]

Aug 13, 2017 17:01:58 GMT -5 hoops902 said:

You might get away with it or you might not. We sent checks to estates all the time (which means sometimes sending checks to estates that are already settled and closed).  There are going to be different state rules and different levels of caring about those rules at different banks.

Heck, just endorse the back of it for deposit only and write in your name as the trustee...you'll probably be fine.  They're more likely to care about the endorsement than figuring out if the money belongs to "you" or not.  Who is going to complain on the backend to make them take another look?  Nobody. 

Then, I'd scan it with my phone and be done.

[TheOtherMe]

When I was volunteering as a rep payee, there were never estates after my clients died.  The checks I received to deposit were either refunds of health insurance or personal money from the nursing home.  I deposited at a teller window and never had any problems.

When mom died, the bank rejected her last pension check that came in automatically.  When I received the replacement check, I took it and the death certificate to the bank and I was allowed to deposit it.

[alabamagal]

Aug 13, 2017 16:13:45 GMT -5 milee said:

OMG, just deposit it at your ATM or through the most automated system you have access to.

Don't quote me on that, but FFS, it's $50.  Put it in, don't draw attention to it and for the love of God don't open up a whole can of worms by drawing their attention to it!  

And then if they notice and call just say "oh I'm sorry I didn't notice."

[justme]

If you do it on the app and they reject it, you'd still have the check in your hands to figure out next step. Going in with paperwork or having them reissue.

[Bonny]

Deposited it with the phone. We'll see what happens.

Thanks everyone!

[zibazinski]

I'm so glad my banker told me to open an account in my trust name and just keep a small amount in it. It's been invaluable advice. I still get checks made out to my trust and if that damn state of Oregon ever gives me my refund, I'll still need that account because the trust name was on the filing of taxes.

[alabamagal]

Aug 13, 2017 21:53:58 GMT -5 Bonny said:

Deposited it with the phone. We'll see what happens.

Thanks everyone!

Any word?

Yesterday I endorsed a check for DS and deposited it into his bank account (well technically it is still a joint account, but the check was written to him).  I actually had to go into the bank since I was out of deposit slips and the bank charges for phone deposits.  It was only $80 so no signature verification (thankfully).

[Bonny]

Aug 15, 2017 11:25:46 GMT -5 alabamagal said:

Aug 13, 2017 21:53:58 GMT -5 Bonny said:

Deposited it with the phone. We'll see what happens.

Thanks everyone!

Any word?

Yesterday I endorsed a check for DS and deposited it into his bank account (well technically it is still a joint account, but the check was written to him).  I actually had to go into the bank since I was out of deposit slips and the bank charges for phone deposits.  It was only $80 so no signature verification (thankfully).

Just checked and it's posted.

[CCL]

Aug 15, 2017 11:25:46 GMT -5 alabamagal said:

Aug 13, 2017 21:53:58 GMT -5 Bonny said:

Deposited it with the phone. We'll see what happens.

Thanks everyone!

Any word?

Yesterday I endorsed a check for DS and deposited it into his bank account (well technically it is still a joint account, but the check was written to him).  I actually had to go into the bank since I was out of deposit slips and the bank charges for phone deposits.  It was only $80 so no signature verification (thankfully).

I've never had a bank ask for signature verification.

[Bonny]

Aug 15, 2017 15:34:30 GMT -5 CCL said:

Aug 15, 2017 11:25:46 GMT -5 alabamagal said:

Any word?

Yesterday I endorsed a check for DS and deposited it into his bank account (well technically it is still a joint account, but the check was written to him).  I actually had to go into the bank since I was out of deposit slips and the bank charges for phone deposits.  It was only $80 so no signature verification (thankfully).

I've never had a bank ask for signature verification.

I wasn't concerned about my signature. I have the authority as Trustee to sign the check. My concern was that the check was being deposited into a bank account different than the payee. I wasn't sure if the scanning program they use picks up that kind of stuff.

I'm sure the issuing bank could care less.

[schildi]

You will most likely be arrested. LOL.

[Bonny]

Aug 21, 2017 21:37:33 GMT -5 schildi said:

You will most likely be arrested. LOL.

Lol, not!

[Peace77]

What did you do with the check?

[kittensaver]

Aug 13, 2017 15:44:36 GMT -5 dannylion said:

Something similar happened to me after I had closed the accounts for my dad's estate.  The check was made out to "the estate of Dannylion's dad." I took it to my bank and showed them the certificate from PA that said I was the executor, explained that the estate was settled and the accounts closed, and they cashed it.   

Take it to your bank with whatever supporting documentation you have and see what happens.  The worst they can do is say no, at which time your plan to return it to the mortgage company to be reissued can become Plan B. 

This  Something similar happened to me also with the Trust I manage, and the bank cashed the check.

[Bonny]

Aug 25, 2017 13:58:25 GMT -5 Peace77 said:

What did you do with the check?

Deposited into savings; after all I am a YMer!