Endorsing a check for a child, especially if they’re too young to have their own bank account, requires a few steps to ensure that the process is done correctly and legally. Here’s a step-by-step guide on How to Endorse Check for Child:
1. Confirm the Payee Name
First, verify how the check is written out. If it’s made payable to the child’s name, as a parent or legal guardian, you will be the one to endorse it on their behalf.
2. Endorse the Check Properly
Flip the check over to the back, where you will find a section designated for endorsements, usually a 1.5-inch section on the far left side. Here’s how you should endorse it:
- Write “For deposit only to account of minor” to restrict how the check can be used.
- Below that line, write “Minor under [Age of Majority in your state/province, usually 18]”
- Then, sign your name underneath, as the parent or guardian.
3. Include Additional Information if Necessary
Depending on your bank’s policies, you may also need to include your relationship to the child (e.g., “parent” or “legal guardian”) and possibly your address or phone number. It’s a good idea to include the child’s account number if the check is being deposited directly into their savings account.
4. Visit Your Bank
Take the endorsed check to your bank. If you’re depositing the check into a child’s existing account, you can typically do this at an ATM or using a mobile deposit app, if available. However, if this is a new situation for you, it might be better to go into a branch and speak with a teller to ensure everything is processed smoothly.
5. Opening a Child’s Bank Account
If your child does not have a bank account and the check is significant, it might be a good opportunity to open a custodial or minor savings account for them. These accounts are controlled by the parent or guardian until the child reaches adulthood. The bank will guide you through the necessary steps, which will include providing both your identification and that of your child (birth certificate, Social Security number).
6. Keep Records
Once the check is deposited, keep a copy of the check (front and back) and the deposit receipt for your records. This can be helpful for tracking the origin of the funds and confirming the deposit with the issuing party if needed.
7. Follow Up
Monitor the account to ensure that the check clears. This process can take a few days. If there are any issues with the deposit, having the bank’s confirmation and your records will be useful to resolve any discrepancies.
Tips and Considerations
- Always check with your bank first about their policies regarding checks made out to minors. Some banks might have specific requirements or forms to fill out.
- Never cash a check made out to your child directly. Always ensure it goes through a proper account either dedicated to them or a trust account if the amounts are significant.
Endorsing and depositing checks for minors can be a straightforward process once you understand your bank’s requirements and the correct way to endorse the checks. It also presents a valuable opportunity to teach children about financial responsibility and the workings of banking.
