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Old 09-15-2010, 07:17 PM   #21
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During Kramer's long trips away from the USA, he has at times received a check in his USA mail. A couple of times the check was going to expire before Kramer's return. So Kramer came up with the Kramer's Mom method. Kramer has helped his Mom master his signature, complete with samples that are found in Kramer's Travel Kit that he provides for his Mom. Kramer forwards that check from his mailing service to his Mom. Mom then endorses it for Kramer and sends it via USA mail to Kramer's Bank for deposit. Mom has been happy to continue this service for the price of one steak dinner, paid for by Kramer, on each return visit.

Naturally, endorsing a check for someone else is a shady practice, which is why I am just telling you second hand what this Kramer character does.
We have a similar routine at our house for my daughter when she's travelling, but I just endorse the back of the check by writing "For Deposit Only" instead of a signature.
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Old 09-15-2010, 07:29 PM   #22
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I do the 'For deposit only' endorsement for my traveling son also. I put the check right into this account so he can access the funds from wherever he is.
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Old 09-15-2010, 07:29 PM   #23
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Instead of Kramer's Mom forging his signature couldn't she just write FOR DEPOSIT ONLY in the endorsement area? Our bank will make deposits like that, they just won't let you take cash out.

Kramer could still pay for the steak dinner for Mom.
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Old 09-15-2010, 07:35 PM   #24
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I personally have returned to doing some of my banking in person. It is just the random checks or a large cash withdrawal. The bankers know me, do not ask for ID to cash a check. The bank is a community bank with about a dozen branches one being just down the street. There is never a line in the morning or early aternoon.
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Old 09-15-2010, 11:16 PM   #25
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During Kramer's long trips away from the USA, he has at times received a check in his USA mail. A couple of times the check was going to expire before Kramer's return. So Kramer came up with the Kramer's Mom method. Kramer has helped his Mom master his signature, complete with samples that are found in Kramer's Travel Kit that he provides for his Mom. Kramer forwards that check from his mailing service to his Mom. Mom then endorses it for Kramer and sends it via USA mail to Kramer's Bank for deposit. Mom has been happy to continue this service for the price of one steak dinner, paid for by Kramer, on each return visit.

Naturally, endorsing a check for someone else is a shady practice, which is why I am just telling you second hand what this Kramer character does.

Actually, it is not a shady practice.... you can sign for someone as long as you have permission from that person... and the sig does not have to even look like theirs...

When I do it, I sign their name and then put "by Texas Proud"... I have even done this on tax returns for people....
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Old 09-16-2010, 01:11 AM   #26
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My local CU also offers this feature.

My main concern is, the funds, depending on the amount, may be put on hold for a few days.

If I visit the branch and make the deposit. The teller does not put a hold on my check, because they can see my large balance.

Also, what happens if there is a screw up. How do you prove you deposited the check?
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Old 09-16-2010, 07:48 AM   #27
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I really don't think NFCU is feeling any heat. NFCU advertises widely on TV in the DC area and Hampton Roads is also a major demo area for them. They both adverstise in the Wash Post. Penfed retains a funky feel like an old school credit union if that makes any sense. Check all the hoopla over the difficult to navigate Penfed website and certificate reservatin offer, for example. I can drive to a Penfed outpost branch and when you go in, you MUST "take a number". They have different number series for teller and "other" services. I've never seen more than two customers in the branch, so I take a number.....take a seat....teller calls my number and I go to the window....very corny.
Interesting. I live far outside the DC area these days so all of my business with both NFCU and PenFed is via the internet or mail. We do use NFCU as our primary "bank" for checking and savings and have for years. I also had several mortgages with NFCU over the years. I have CDs at both NFCU and PenFed.
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Old 09-16-2010, 09:02 AM   #28
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Naturally, endorsing a check for someone else is a shady practice, which is why I am just telling you second hand what this Kramer character does.
For few years I was depositing checks at Wachovia (it was First Union at the time) without any endorsements (I did not know it was needed). Worked fine.
Bank employee explained to me later that they might choose to not honor a non-endorsed check, but it never happened to me.
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Old 09-16-2010, 11:37 AM   #29
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I read your follow-on posts but, as a larger matter, I gotta wonder: is NFCU feeling pressure from PenFed these days?
Shucks, NFCU deletes their website e-mails after 90 days so I don't have the quote, but I've asked them several times if they'll beat Penfed's deals. When I ask that question it appears to trigger the following boilerplate: "We manage NFCU's assets in the best fiduciary interests of our shareholders, not like those other upstart whippersnappers who are going to end up bankrupt any day now with their foolhardy high-interest-rate CDs and low-interest-rate mortgages." Or words to that effect.

In what must be a stunning coincidence I no longer have either of our mortgages, our HELOC, or any of our CDs deposited with NFCU.

But NFCU does manage to maintain a higher rate on their money-market accounts, as long as I keep at least five figures on deposit. Or until I feel I can peel some of that off for another PenFed CD...

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Mom has been happy to continue this service for the price of one steak dinner, paid for by Kramer, on each return visit.
I hate seeing poor, innocent investors held hostage to unethical financial advisors who claim that their active-management strategies will boost returns with no additional risk!
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Old 09-16-2010, 02:17 PM   #30
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Thank you for the suggestion. I downloaded the demo of Vuescan and also the driver from HP for both Windows 7 and Vista. I still get the same results. It scans, looks great but the PenFed program says that it cannot be read.
I would try creating a winxp 32-bit virtual machine before giving up
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Old 09-16-2010, 04:37 PM   #31
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Years ago I once had checks for deposit returned to me for non-endorsement (returned by my credit union). I think it was a check from the IRS and maybe also from the State of California. I didn't know it was even possible to put just For Deposit Only. But I am happy to know that having someone else do the signature is an accepted practice.
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Old 09-16-2010, 11:53 PM   #32
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Originally Posted by wolf View Post
My local CU also offers this feature.

My main concern is, the funds, depending on the amount, may be put on hold for a few days.

If I visit the branch and make the deposit. The teller does not put a hold on my check, because they can see my large balance.

Also, what happens if there is a screw up. How do you prove you deposited the check?
I presume you are referring to the original topic of this thread. My apologies for contributing to it being hijacked.

Penfed specifically states that the funds are available immediately, but I presume there is a portion witheld just like a conventional deposit. I wonder what needs to be done with the check after scanning since I wouldn't be comfortable discarding it for awhile. Here is the FAQ document.
Attached Files
File Type: pdf remotedepositinfo.pdf (20.8 KB, 1 views)
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