Does Your Bank List Drawers on Cheques/Direct Deposits?

Geekomatic on 15/03/2021 - 01:43

Hi all,

I've had an occasional issue with my bank where I write the drawers names onto my deposit ticket where required, yet when my statement arrives, they only list "3 cheques" & a total. I use this as a 2nd way to verify payments have gone through properly, (bank is not in my current location, so have to travel). Many times when I'm handed a cheque, or it arrives in the post weeks later, it takes a while to deposit it, so I like that the drawers name is requested on the deposit slip & shown on my paper statement.

However, a few days ago I noticed the mistake again (no names), so messaged bank (this has happened many times, but I caught it earlier before). Anyway, I got a snippy note from a manager saying I'd be charged to find out who the drawers were! I replied I shouldn't have to pay as it was their mistake to omit them. This manager (apparently doesn't know how their own bank works) then said they never put drawers names on statements? I was, Wth? They ALMOST always do, for years. I didn't reply further, as they'd actually provided the lost names.

TD,DR: does your bank list the drawer/direct deposit names?

Cheers.

Financial

Comments

  • Agarwal on 15/03/2021 - 06:28
    +2

    I rarely deposit cheques but mine has never listed the Drawer name on the statement. Does it only happen if you deposit a few at a time and they just put them through as one transaction? Perhaps you could deposit them individually, and they may list them if you do that, or at least you might be able to verify them by the amount, if that varies for each one.

  • Quantumcat on 15/03/2021 - 08:12
    +3

    Deposit them through an atm that accepts cheques, you get a receipt with a picture of the cheque which you can use for your records.

    Someone I know has a business that attracts old people as clients and old people like to pay by cheque so he has to do this regularly

  • RockyRaccoon on 15/03/2021 - 08:39
    +1

    I know Bankwest has the feature to notate cash withdrawals at the branch. I would guess you could do the same with deposits but havent tried this.

    Since I no longer bankwest, I cant check.

    But I had a similar need to notate my withdrawals with my current bank.

    Some insightful person here suggested that I do the following.

    Have a "higher interest" account with the same bank (which now isnt high interest but are generally no extra fee). When I withdraw money from the ATM etc I transfer the same from the HI account online and note what it is for.

    If cash reserves are low you can even transfer 1c and make a notation which reminds you later. Same can be for the deposits. eg You deposit check for $457, you then go online and transfer 1c to your HI account noting "Bob Smith invoice 345 $457" if its multiple, then two transfers each of 1c. (Some banks might have min transfer limit so use the smallest amount etc)

    Either that or as Agarwal suggests deposit them individually.

    Not ideal but can work

  • Switchblade88 on 15/03/2021 - 10:15

    Do you also pay to have caller ID enabled on your facsimiles?

    Maybe I should upgrade my rotary phone too

  • GG57 on 15/03/2021 - 11:13

    I've never seen the cheque details listed on a statement, so I don't see this as a 'mistake' by the bank.
    Surely your own records should be sufficient for you to reconcile.
    And I wouldn't be waiting for paper statements; validate the total deposit online and reconcile against your accounts receivable.

  • LyndonBBear on 15/03/2021 - 17:03
    +1

    I usually have to specifically ask/remind the teller when depositing, even when the payee is written on the slip. Occasionally they will ask, but more often than not, I have to remind them. Kick myself when I realize, but it is in a deposit book so the info thing on the side still has the details for reference.

    • Geekomatic on 23/03/2021 - 00:29

      I'm just going to write it on the deposit ticket at the time. Ta.

  • Geekomatic on 23/03/2021 - 00:28

    Thanks for the replies. I guess it's up to the bank.

    Cheers

  • dandandan on 23/03/2021 - 00:36

    It's time to cheque out or cheque what year you are in.

    Cheque (cheers)

    Maybe you simple put in an online note system when, who, were, amount of your cheque over waiting for the statement when you forgotten and try to reconcile at that time.

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