Question

What are the three types of check endorsements used to deposit checks into a bank account? A. Blank endorsement, in-person endorsement, and mobile endorsement B. Company endorsement, full endorsement, and individual endorsement C. Blank endorsement, full endorsement, and restrictive endorsement D. Business endorsement, personal endorsement, and restrictive endorsement

Answer 1

Answer:

Blank endorsement, Restrictive endorsement, and Special endorsement

Explanation:

Blank Endorsement - This is the most common type used. it's endorsed by the payee and presented to the bank for cash or deposit.

Restrictive Endorsement - This is done by writing "For deposit only" in the endorsement area instead of the payee signing his name. This type of endorsement is only to be deposited to the payee's account at his financial institution.

Special Endorsement - This is used when the payee wishes to sign a check over to another person. This is done by the payee signing his name, then writing "Pay to the order this person". This new payee then signs his name in the endorsement area and crahses or deposits the check.