Cheque in child's name?

[Bushi]

Hi.

Have a cheque in child's name and want to open a j ISA with Hargreaves.
They need the cheque in the name of Hargreaves....not in the child who will be opening the account....

Anyone know the easiest solution?

They have no bank / savings account as yet and if I can not go through that at present it would be ideal

Cheers

[RC1807]

Contact whoever wrote the cheque and ask them to either make it payable to you, and you make the onward payment, or make it payable to the new payee

[fourstardan]

RC1807 said:

Contact whoever wrote the cheque and ask them to either make it payable to you, and you make the onward payment, or make it payable to the new payee

Mindboggling you even had to type this!

[Zarco]

Open ISA.

Give details to whoever wrote cheque and they can make transfer (rather than faffing around with cheques!).

[Bushi]

Not that mindbogglingly....

Cheque is in Child's name and will only be that way, was from a fund in trust.

[Stick Legs]

Cross out ‘AC Payee’ and initial it with the issuing signature & draw cash…

[Panamax]

Mr Bushi opens a bank account in the name of the child - or possibly "Mr Bushi, trustee for Bushi junior".
Either the original cheque or a new cheque made payable to "Mr Bushi, trustee for Bushi junior" is paid in.
Once the cheque has cleared Mr Bushi makes a payment to "Hargreaves Lansdown" from that child/trustee account.

[RC1807]

Bushi said:

Not that mindbogglingly....

Cheque is in Child's name and will only be that way, was from a fund in trust.

If you haven't already asked them to amend, please do so. They may well accept to.

[Panamax]

RC1807 said:

If you haven't already asked them to amend, please do so. They may well accept to.

It's not unusual for an organisation to insist on making payment directly into the name of the right person. Many will refuse even to send money to your solicitor or accountant.

[Vasco]

Can't it be paid into your own/parent bank account - as legal guardian while a child ?

Then draw your own cheque.

[AdamIM]

Bushi said:

Not that mindbogglingly....

Cheque is in Child's name and will only be that way, was from a fund in trust.

All high street banks will set up a named child account with you as Trustee. Without you as trustee the age min various from 11 to 16.

If under 9 years old you will have to visit a branch. You add the account your App and it's just like any other bank account just online only, no cards etc.

[RC1807]

Panamax said:

RC1807 said:

If you haven't already asked them to amend, please do so. They may well accept to.

It's not unusual for an organisation to insist on making payment directly into the name of the right person. Many will refuse even to send money to your solicitor or accountant.

I understand that. Cheques are such an outdated payment method....haven't used them in 25 years living outside the UK!
My point was, the OP hasn't clarified what he has done / asked so far of the payer

[Panamax]

RC1807 said:

I understand that. Cheques are such an outdated payment method....haven't used them in 25 years living outside the UK!

Very true.

If you're not familiar with current UK payments the banks have relatively recently introduced a system whereby electronic payments are no longer made solely on the basis of Sort Code and Account Number. The payment system automatically checks the name of the account holder as well. So electronic payments are now much the same as the old cheques, the deposit of which would be rejected unless the name of Payee matched the name of the account holder.

[C5_Steve]

AdamIM said:

All high street banks will set up a named child account with you as Trustee. Without you as trustee the age min various from 11 to 16.

If under 9 years old you will have to visit a branch. You add the account your App and it's just like any other bank account just online only, no cards etc.

If you can't get the cheque re-issued or payment made in another way, I'd say this is the best way forward. Open an account with a high street bank in child name, will be a beneficiary account if the child under a certain age so you will sign on it until they're X years old (varies). Pay in cheque and then just transfer the funds when cleared.

Would come in handy if anyone else gives them a cheque in the future as well (they refuse to die out).

[AdamIM]

C5_Steve said:

AdamIM said:

All high street banks will set up a named child account with you as Trustee. Without you as trustee the age min various from 11 to 16.

If under 9 years old you will have to visit a branch. You add the account your App and it's just like any other bank account just online only, no cards etc.

If you can't get the cheque re-issued or payment made in another way, I'd say this is the best way forward. Open an account with a high street bank in child name, will be a beneficiary account if the child under a certain age so you will sign on it until they're X years old (varies). Pay in cheque and then just transfer the funds when cleared.

Would come in handy if anyone else gives them a cheque in the future as well (they refuse to die out).

The chq will never be re-issued. The above is the only and expected way to encash to money.