Three Important Words
Do you use your bank's ATM to make deposits? Or, do you ever sign your checks at home and then go to the bank to deposit them? I know we do. If you do, too, there are three important words you should know … For Deposit Only.
If a check is lost or stolen after you've signed it, there's a chance someone else can cash or deposit it. When you sign a check you intend to deposit, write "For Deposit Only" and your bank account number above your signature. This way, even if your check ends up in the wrong hands, it can only be deposited in your account. It can't be cashed or deposited in anyone else's account. Check out the Banking section of Dolans.com for the latest tips on how to bank smarter. |