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TJ Vargas signed the back of his checks for deposit and then lost them on the way to the bank. When he contacted the issuers of the checks to try to have them reissued, he discovered that the checks had already cleared. How could he have made a restricted endorsement to ensure that they would get deposited only into his account?

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eooyibo123

Answer:

For Deposit Only (3846933720). Midwest Bank

Explanation:

TJ Vargas only endorsed the back of his check for deposit. The disadvantage of this is that anyone in possession of the check will be able to insert and account there and the check will clear to the person's account.

To avoid this TJ Vargas should have endorsed at the pay to a specific account, that way the bank must pay the check to only that account. If he had done this he would not have lost his funds.

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