Question

A member calls stating that he and his wife have sent in a single check to cover both of their accounts. The payment did not apply, and they are wondering why.

Answer 1

The payment will not apply because she has the sole right to dictate what goes on in her account and isn't among the authorized signatories.

What is a Check?

This is used during financial transactions to order a bank to pay a specific amount of money from a person's account to someone who it was issued to. The owner of the account has the sole right to ensure this is done.

This is therefore the reason why someone stating that he and his wife have sent in a single check to cover both of their accounts will not work out.

For this to be possible a joint account would have been better as both of them are signatories to the account and can dictate what goes on in it. This is therefore the reason why the payment will not apply in this type of scenario.

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