Third Party Checks??????????
I have a cash account with the brokerage Zecco. I need to add money but opening a checking account for me is taking its sweet *** time because they need to confirm my identity. So I was wondering if a check would be considered a 3rd party if I had a friend write one out to my account. (3rd Party checks aren't allowed for funding at Zecco)
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No broker/dealer is permitted to accept third party check, it's the law. And no reputable business would accept them either.
And yes, if you friend or any one other than yourself wrote a check for deposit to your account it would be considered a third party check.
I have an account with TDAmeritrade and I funded my account with a check from my parents. All I did was endorse it and put my brokerage account number on the memo part of the check and mailed it in with no problems.
It seems the "old guy" gave you a correct answer, anything different would not be correct