For what purpose would a payee use an endorsement as shown in the following example: For deposit only P.J. Berry's 6639-88-83-9
A) when depositing a check into his or her account
B) when paying a check
C) when transferring the check to another party
D) when cashing a check

Question

Quizplus · Accepted Answer

The endorsement "For deposit only" followed by an account number is used when the payee wants to deposit the check directly into his or her bank account, limiting the check's use solely for deposit purposes and preventing it from being cashed or endorsed to another party.

For What Purpose Would a Payee Use an Endorsement as Shown