Endorsing a Check for a Minor

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Legally, minors cannot present a check to a bank, so they need someone to endorse the check. Discover why a bank looks to a parent to guarantee the funds for a minor's check with help from a registered financial consultant in this free video on money management and personal finance.

Part of the Video Series: Money Management
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Video Transcript

Many times, we'll have children that will be able to go out and get a job, and if those individuals are given a check for payment of services for shoveling someone's snow out of their driveway, or cutting the grass, and things of that nature, if that party pays the child, a minor, with a check then you as the parent want to make sure that that check gets cashed. Legally, a minor cannot present a check to a bank. They therefore, need someone to endorse that check, and as a parent you are able to do that. But, when you go to the bank and endorse the check the bank looks to you to guarantee the funds if the check goes bad. So, make sure you as a parent either make arrangements for your child to be paid on a cash basis because of this awkward situation, or make sure that you know the party that's issuing the check to your child is, certainly, good for the funds. This is Patrick Munro talking about the strategies of endorsing a check for a minor.

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