The utilization of rubber stamps in businesses is common. There are plenty of different types and styles of stamps, including address stamp, signature stamp, pre-inked stamp, self-inking stamp, logo stamp, notary stamp, endorsement stamp, and many more. Business owners and office employees use these assortments of stamps for various purposes.
In this piece of content, we will discuss one of the most significant stamps in the business world, and that is an endorsement stamp. It is not a regular stamp, and thus, there are chances that you may not be aware of it. So, here we have compiled a few vital things that you should know about the endorsement stamp.
What are Endorsement stamps?
So, let’s start with what are endorsement stamps. They are personalised stamps that let you record deposit information without having to write it by hand. When it comes to businesses, one of the routine tasks is to write checks for transactions that need to be noted down.
Endorsement stamps are needed by businesses to carry out this regular activity efficiently, without any hassle or mistake. They are used to endorse checks and make deposits with ease. So, now you know endorsement stamps and why they are used. Let’s proceed further to learn about their benefits.
Benefits of using endorsement stamp
There are three main benefits of using endorsement stamps, and they are as follows.
Save your time
One of the main benefits of using endorsement stamps is that you can record pertinent deposit information without having to write it by hand, saving you both time and effort.
Time is the most significant asset in the business domain, and being a business owner, you know how much this saved time can mean to you. You can use this saved time to grow your business by focussing on other aspects of your business.
Eliminate the error
If you have a lot on your plate to do, and you are running out of time, then there are high probabilities of making mistakes while writing checks. Being humans, we all are liable for making mistakes, and in a hurry, you may enter the wrong amount or make a spelling mistake.
These mistakes may sound trivial, but they can cause huge losses. However, this problem can be rectified with the use of endorsement stamps. Endorsement stamps guarantee the accuracy of the information. You can endorse your checks with these stamps to avoid mistakes or errors.
Prevent check fraud
Check related frauds or theft are common these days. It is one of the serious causes of concerns for companies. Stealing checks and forged signatures are quite prevalent.
Criminals steal checks, endorse the, and then use these checks for their own purposes. But such crimes can be combated by ensuring that checks are endorsed by the appropriate financial institution or an authorized organization, using endorsement stamps.
What should be on your endorsement stamp?
Your endorsement stamp should contain certain information, such as:
– Your bank name
– Your bank number
– Your bank account number
– Your company name
Along with them, the line ‘For deposit only’ should also be printed on your endorsement stamp as it regulates a bank’s ability to obtain a check.
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