Cashing a cheque

[annadomino]

My daughter doesnt want to put a large cheque into her bank, for reasons I'm not sure about. She has asked if I can pay it into my account, and give her money as she needs it. When I say large, about £900, compensation for an accident she had, nothing dodgy.
Can she sign the back, or wha is the procedure these days.

[ummmm]

Not sure if you can do that anymore.

Reasons you're not sure about...she probably has an overdraft that will eat up the money.

[Mamyalynne]

Not these days I am afraid, used to be the case but 'The Cheque Act' changed it.

[hc4361]

I expect she's trying to avoid her money being swallowed up by an overdraft.
Sadly she can only pay it in to one of her own accounts.

[KJN]

Most cheques are crossed "account payee" these days which means it can only be paid into the name on the cheque.

[rockyracoon]

If it's overdraft problems she could try opening a savings account in another bank and paying it in there, although if the overdraft has got to be a problem then her credit rating maybe affected and she won't be able to do that

[VHG]

Open an account at another bank. I have two "current accounts".

Get her to go into any bank and say she wants to open a current account and pay in some money.

They will be more than happy to take her money.

[factor-fiction]

Is it to do with savings limits for state benefits?

[boxtops]

I'd open a second account with another bank or building society to pay that into, then she can draw out some it and give it to you if she wants to. I've got accounts with two separate organisations.

[boxtops]

^ or open an on-line account with Tesco or Sainsbury, it doesn't have to be a high street bank.

[JonnyBoy12]

She can put it into my account and then I will say "Thank you very much for your kind donation".

Sorted, eh?

[annadomino]

Thanks all, I wasn't sure. I too suspect it's overdraft, maybe she will tell me, when I tell her that her plan is no go.
If it IS overdraft, will she still be able to open another account, elsewhere ?

[factor-fiction]

I don't understand though why someone whohas an overdraft might not want to use some new funds to pay some of it off

[EDDIE51]

You can open another account at a different bank reguardless of ovedraught at the first bank. All you need is photo ID , like a driving licence and proof of address. They will open the account instantly.
Those cheque cashing places charge a fee and a % of the cheque , around £50 fee and 15% for a £900 cheque so she would only get approx £800 for the £900

[annadomino]

I don't get it either, but I am old school, if I can't afford it, it stays where it is until i can

[themas]

She doesn't need another current account. If she has money problems having another will probably end up with her getting another overdraft & more into debt.

Open an instant access savings account. Pay the cheque in. Once it clears she can draw the money out as and when she needs it.

[cathfromsaron]

no you can't pay-in other people's cheques anymore!

i would open a new savings account at a building society and pay it in there! x

[annadomino]

Instant access, many thanks.