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crossed cheque

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CACAAYO | 13:18 Tue 01st May 2007 | Law
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a cheque crossed account payee is not entirely safe. Who takes the loss if such a cheque is intercepted in the post and the thief obtain value
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If the cheque is crossed 'A/C payee' then by provision of the Cheques Act 1992 it can only be paid into the account of the named payee. The crossing cannot be deleted, nor can the cheque be transferred over to a third party.

It is at the risk of the bank to accept a crossed cheque into someone else's account when it is written in favour of somebody else, which means that banks don't generally accept them. Businesses such as High Street cheque encashment agencies accept the risk that the original cheque may be fraudulent and to counter this risk they charge an upfront fee.
a cheque crossed account payee is not entirely safe. who takes the loss if such is intercepted in the post and the thief obtains value?
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