A Financial Question [+REP]

[FunerealSerap]

Are you able to, or how do you go about, cashing a cheque under someone elses name?

No I'm not trying to commit fraud or the likes ;l

My friend received a cheque from her granny for her birthday, a rather considerable sum of money, but doesn't have a bank account yet. So she phones me up and tells me, then says "Why don't you cash it into your account and give me the money?" I said, "I can't, that's illegal" and she said "why?" and I honestly couldn't answer because, truth be told, I don't know whether you can or can't.

Any help would be appreciated and +Rep given

[today]

I think you can as long as the other person is there with ID to prove who she is?

i dont know though..

[Rarelime]

What gets me is that she asks you, but not her parents :S.

[MissAlice]

My advice would be to open an account so they can bank it for themselves. Some banks and building societies offer incentives to new account holders, I think I was 13 when I opened a bank account with Nat West.

[Metric1]

she can endorse it over to you by signing the back, but it's risky because the cheque could come back NSF and you'll be stuck with the fees!

[Kieran]

Yes, as Metric said, it can be transferred to you with your friends signature. Just get her to open an account its easy. I did it on my own when i was 14 with HSBC,

[FunerealSerap]

Thanks for all the replies, all have been +rep'd.

We sorted it out at the bank today, though the cashier said it's risky cashing a cheque in someone elses name for the reason Metric said and that if that did happen it wouldn't be her fault, which I can understand, and if that happens.. it happens. I'll deal with it.

Thanks again all.