Quote:
Originally Posted by borked
I never understood this - ok if I went to the teller with a check for $50 with FatHairyMistresses on it, but
1) who has affiliate cheques sent out for $50
2) who deposits checks to the teller directly
3) what has BoA got to do with anything?
|
I do number 2 all the time. It has to do with liability reasons actually with a settlement I entered into with the bank. Obtaining a signature from the teller shifts the liability from the client to the bank if the deposit is lost in transit (which did happen to me 4 years ago). Plus if you want the funds released asap, you need a manager to sign for the deposit (at my bank at least).
WG