Which phrase is associated with an endorsement in full?

The phrase "Pay to the order of" indicates an endorsement in full. This specific wording is used when an individual or entity endorses a check or document, transferring the right to collect the payment to another party. It effectively means that the endorser is authorizing the bank or financial institution to pay the specified amount to the person or entity named in the endorsement.

Using this phrase signifies a complete transfer of ownership of the payment represented by the check, which is a key characteristic of an endorsement in full. It is essential in the context of financial transactions as it clarifies who is entitled to receive the funds, ensuring that the check is properly processed and directed to the correct recipient.

The other options do not represent a full endorsement. For instance, "For deposit only" restricts the check’s use to being deposited into an account, while "Endorsement completed" does not specify the terms of the payment. "Cash only" generally refers to payment methods and does not relate to the endorsement process at all. Hence, "Pay to the order of" is the precise terminology that aligns with the concept of an endorsement in full.