Cheques - Page 2

vorlon24 · 30-03-2005, 15:56

Quote:

Originally Posted by garinda

Isn't there a time limit after a cheques been dated after which you can't deposit it? l think it used to be three months.

You're right about there being a time limit garinda, but it's 6 months

Neil · 30-03-2005, 16:20

Quote:

Originally Posted by accystanmac

Oh dont worry me lol the cheques has account payee printed on it surely it cant be put into someone elses a/c without my signature to sign it over or can they ?!?

Like I said you can. I have done it myself. It was a cheque for me but with the wrong name on it. It had company name on not private name and I payed it into my personal account it was crossed account payee only.

accymel · 30-03-2005, 16:48

Funny i always thought a crossed payee cheque was secure as can be with it only supposed to go into named a/c

didnt know u could do that

Neil · 30-03-2005, 16:51

It is only secure if the person at the bank is checking properly.

accymel · 30-03-2005, 16:55

Quote:

Originally Posted by Neil

It is only secure if the person at the bank is checking properly.

Ah well small hope then

grego · 30-03-2005, 19:42

I'd definately keep phoning them Accystanmac, its your money at the end of the day, I wouldn't be fobbed off with cheque in post, give them a deadline.

accymel · 30-03-2005, 19:50

Quote:

Originally Posted by grego

I'd definately keep phoning them Accystanmac, its your money at the end of the day, I wouldn't be fobbed off with cheque in post, give them a deadline.

Ta Grego i will ive given till fri when manager is supposed to be in n at the latest tues when this manager is supposed to be seeing me in person n will be told if no cheque by mon she'd better have it with her tues or will be going higher!!

grego · 30-03-2005, 19:56

I think your right to do that and be demanding, these people mess a lot of peole around and get away with it and are probably getting good interest on other peoples money, keep us posted as to how you get on.

accymel · 30-03-2005, 20:02

Yeh thats probably where it is in their bank a/c LOL, will deffo let u know cos i'd be cheering so loudly n frame the receipt of the cheque going in the bank pmsl!!

accymel · 01-04-2005, 15:21

Update: I got my 2nd months cheque today but still missing the 1st one ggrrrr tho manager has got back to me to tell me they are going to re-issue my 1st cheque [godknows when] as its got lost in their system somewhere - how convienient!!!

Least i know it hasn't been cashed n no-one else has it phew! Thnx for all your advice n comments much appreciated

WillowTheWhisp · 19-04-2005, 22:18

Quote:

Originally Posted by Neil

It is only secure if the person at the bank is checking properly.

If the bank cashier had accepted an account payee cheque and deposited it into an account other than the named payee and if you could prove they had done so then the bank would be guilty of negligence and the onus would be on them to get the money back.

Very few uncrossed cheques are issued these days because of the amount of fraud which used to take place. After all if a cheque payable to "Joe Bloggs" had the name "Joe Bloggs" signed on the back of it how would the bank know that Fred Smith hadn't done it so that he could pay the cheque into his own account? The system was just asking for trouble.

big al · 19-04-2005, 23:25

Cheques can be cashed for up to six months officially. Banks check aprox 1 in ten cheques for accuracy max as so many go through the clearing houses it is imposible to check every one. All cheques can be passed over for banking into another account as long as the payee has signed the back as a waiving of their right to present & cash the cheque.
If you are normally paid by cheque for wages then why not ask your employer to pay you directly by BACS which is a safe electronic payment without use of the post. No excuse then for "It's in the post mate."

chav1 · 20-04-2005, 02:26

A personal cheque can be sighned over on the back i think to goto another account

not %100 on this

also it could be cashed at a cheque cashing place like the jewlers across from the TSB in accy although that particular place is fussy about proof of identity some others arnt

WillowTheWhisp · 20-04-2005, 06:54

Quote:

Originally Posted by big al

All cheques can be passed over for banking into another account as long as the payee has signed the back as a waiving of their right to present & cash the cheque.

Not if it is a crossed cheque (which means it has two vertical parallel lines running through it) with the words "account payee" or "account payee only". That means it can only be paid in to a bank account in the name of the payee. (Unless banking law has changed since I took my exams but I very much doubt it.)

At one time "open" cheques (ie no parallel lines or where the lines had been "opened" by the issuing account holder and signed by the him/her) could be cashed over the counter of the issuing bank branch but that meant that the recipient of the cash couldn't be traced in case of a query or problem so it became preferable to insist that all cheques were "cashed" via a bank account (in practice paying the cheque into an account and drawing cash out.) This was normal practice anyway if the issuing branch was inaccessible.

In those days a cheque could be "signed over" to any number of other people. For instance if the cheque was made out to "Fred Smith" he could write on the back "Please pay Joe Bloggs" and then sign it. In turn Joe Bloggs could write under that "Please pay Ermintrude Chuckabutty" and sign it and so on.

Eventually it simply became acceptable for the original recipient just to sign the back and then the cheque became negotiable (in much the same way as a five pound note). It then lost the whole point of being a cheque apart from the fact that it was possible to trace it back to the bank where it was eventually deposited.

Back in the olden days cheques used to be forwarded on to the bank branch of the account holder where it was someone's job to check through them all for things which may indicate fraud, even verifying every signature against a record of the account holder's signature kept in the branch. Nowadays there are so many cheques issued that it has become totally impractical if not downright impossible to do that.

In the early days they all had to be sorted into account number order each day too so that if anyone asked for a cheque to be traced it was a simple enough proceedure to go down into the bowels of the earth (ie the strongroom) and sift through boxes of cleared cheques for the right date and then through that bundle for the very cheque itself. Ah the good old days.

Neil · 21-04-2005, 07:01

All I cab say is that I have received a cheque made out in the wrong name. It was for me but with a company name on it not a personal name. I had no trouble paying the cheque into one of the banks in Accrington. Most banks have a limit where they dont even check cheques under that value. The one I know of is £500. It is cheaper for the back to refund money under that limit than it is to check all the cheques.

Lets not even start on how un-secure your plastic is. Chip & Pin, secure banking, what a laugh. Chip & Pin has made fraud even easier for criminals than the old sign the paper method.