Expired UTMA account with check that can’t be cashed.
I received a check from a Joint account UTMA, that is made out to myself and son that the bank will not accept, because he is no longer a minor. I never changed the account, my fault. Computershare will not change the names on the check, bank won't accept it. Catch 22... any suggestions. Check is around $3,000.
Terry Says
Since your son is no longer a minor, ask the bank if you can open an account in his name -- he will have to sign -- and then endorse the check over to him and deposit it in the new account. Banks area VERY sticky in this area these days. So if the will not do that, you must contact the company that originally issued the check -- not Computershare. It was likely a dividend? Ask them to reissue the dividend in your son's name and then have him open his own account to deposit it. You may need a certified copy of his birth certificate. But you need to contact the company THROUGH Computershare. Ask them to put you in touch with Shareholder Relations at the issuing company. If that still doesn't do it, send me an email at Terry@TerrySavage.com with the details and your contact info and maybe we can wake them up!
