Help, with business math?

I used to be in banking, although I was an accountant for the bank, not a teller or someone else who worked in a branch.


A restrictive endorsement is when restrictions on the check are written with the signature...such as "For deposit only" prohibiting the check to be used for any other reason than what is intended. This usually has the account number in addition to the intended purpose and the signature.

Full endorsement, has no restrictions and can be cashed, depositted wherever the recipient chooses.

Blank endorsement, I've never heard of before...sorry.

I hope that helped a little.

 

A restrictive endorsement restricts how the check can be used. When you write "for deposit only" and sign your name beneath, that's a restrictive endorsement.

When you simply sign your name, that's a blank endorsement, and anyone in possession of the so endorsed check can deposit or cash it.

A special endorsement identifies to whom the check should be paid. For instance, if you wrote me a check, I could sign the back and make a specifying statement that it is to be paid to someone else and only that someone else.

If someone writes "payment in full" on a partial payment check, and you cash it, you have agreed that the partial payment is, indeed, payment in full. That isn't something the payee does, so it's different than the kinds of endorsements we think of when we just say "endorsing a check," but the payer has made the specification, or endorsement, that the check covers the entire debt.