Which endorsement phrase typically restricts the use of a check?

The phrase "For deposit only" is a restrictive endorsement used on checks, meaning it can only be deposited into the account of the person or entity who endorsed it. This limitation is designed to enhance security by preventing unauthorized parties from cashing or transferring the check. When this specific wording appears on a check, it signifies that the funds must be electronically deposited into a bank account, thereby reducing the risk of theft or fraud.

In contrast, other endorsement phrases serve different purposes. "Pay to the bearer" allows any holder of the check to cash it, creating an unrestricted endorsement. "Void after 30 days" simply states that the check will no longer be valid after a given time period; it does not restrict who may cash the check. Lastly, "Endorsed for collection" permits a third party to collect the funds but does not limit the check to a specific use like depositing into a personal account. Thus, "For deposit only" is the only phrase from the options provided that imposes a strict restriction on how the check can be handled.