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What does "POD" mean on a personal check?

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usregimechange Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-18-10 10:59 AM
Original message
What does "POD" mean on a personal check?
Thanks,
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Kali Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-18-10 11:02 AM
Response to Original message
1. don't see that on my checks
could you be more specific? is it on the front? part of a stamped endorsement or what?
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MicaelS Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-18-10 11:02 AM
Response to Original message
2. Point of Deposit
Point of Deposit (POD): The place or institution that accepts a check and gives the customer credit for the deposit instrument.

Can also mean

Payable on Death (POD): A beneficiary of an account to whom the funds would be granted upon the death of the account holder(s).
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Chan790 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-18-10 11:02 AM
Response to Original message
3. Payable on death...
it's illegal for the bank to cash it without proof of death of the account holder, usually a copy of the death certificate. (I'm in teller training to work for a major US bank.)
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usregimechange Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-18-10 11:05 AM
Response to Reply #3
4. Ok, it is at the top of the check with the address.
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Chan790 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-18-10 11:14 AM
Response to Reply #4
5. Okay, that's point of deposit.
You don't see that too often anymore as most checks are point-of-deposit and it's just assumed. Payable-on-death would likely appear in the memo line or payee-address field instead, sometimes following the signature...some people prefer to do that so that it's all in the same hand-stroke.
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usregimechange Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-18-10 11:19 AM
Response to Reply #5
6. What does it mean?
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usregimechange Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-18-10 11:20 AM
Response to Reply #6
7. It is next to the persons name like a credential
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Chan790 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-18-10 11:28 AM
Response to Reply #7
9. Wait, next to the account holder's name?
probably just a personal credential then. I have a CFRE from a development job that I still use as a personal credential where appropriate.
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struggle4progress Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-18-10 04:21 PM
Response to Reply #7
16. Then it means he has a doctorate in pissed-offedness
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Chan790 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-18-10 11:27 AM
Response to Reply #6
8. It tells you where you can cash it.
Since most banks will cash checks drawn on other banks for an account holder, it's redundant and not really needed information.

The bank logo tells us where the check is from, we don't need to be told it's a Point-of-Deposit instrument because we know what a check is. All the information we need is encoded in the MICR line at the bottom with the |: and ." symbols.

In fact, it's a pain for us and for you because some banks will only allow you to deposit them and not cash them...that results from confusion because most tellers have never seen that and assume it to be the same as "for deposit only".
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Swede Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-18-10 11:32 AM
Response to Original message
10. I wonder?
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annabanana Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-18-10 11:38 AM
Response to Original message
11. Pay On Demand. . . . . n/t
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Kali Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-18-10 11:39 AM
Response to Original message
12. Professional and Organizational Development?
http://www.podnetwork.org /
is there a degree in POD?
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Throd Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-18-10 12:12 PM
Response to Original message
13. Prince of Darkness
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MilesColtrane Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-18-10 01:47 PM
Response to Original message
14. Professor of Dudeology?
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TrogL Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-18-10 02:00 PM
Response to Original message
15. Pay on Demand
Current banking regulations make this pretty much irrelevant.
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