Unit 1

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Hey y'all!

Can someone plz give me examples of banking documentation and the rules for crossings and endorsements of cheques?

Cheers ears! :-)

Miffy
xx

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Unit 1

    Someone help me please??? :lol:
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Unit 1

    Not quite sure what you are after. I used to work in a bank so I can try and help you.
    Cross cast cheques are where two lines are ruled through or at the end of the name section of a cheque. This means that it can only be paid into a bank account of EXACTLY that name and that name only. You used to be able to sign the back of the cheque to make it payable to someone different than the name on the cheque as long as it wasn't cross cast. However, nowadays this isn't allowed and all cheques have to be paid into the bank account with that name on.

    Hope that helps :?

    If not ask me again!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Unit 1

    She's right - the two ruled lines (crossing) is normally a/c payee. But endorsing cheques isn't allowed anymore. I got confused on this when I had a question on it in my sim because I was sure it wasn't allowed anymore!

    Good luck
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Unit 1

    Cool - thanx!
    :lol:

    What about banking docs? Got brain block and can only think of paying-in slips?!?!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Unit 1

    Hi Miffy.

    What about statements and cheques/stubs.

    Scott.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Unit 1

    Paying in slips
    Bank statements
    Cheque Books
    Certificates
    Passbooks

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