News0 min ago
cheque
a cheque crossed account payee only is not entirely safe who takes the loss if such thing happens
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No cheque is safe if it is fraudulent - whether it is crossed or not.
If it has been issued fraudulently it can be recalled many months later and the person who banked it will lose out.
The only recourse is to try and recover the money from the person who issued it.
http://news.bbc.co.uk/1/hi/programmes/moneybox /3727888.stm
http://www.payontime.co.uk/collect/collect_che que_clearing.html
If it has been issued fraudulently it can be recalled many months later and the person who banked it will lose out.
The only recourse is to try and recover the money from the person who issued it.
http://news.bbc.co.uk/1/hi/programmes/moneybox /3727888.stm
http://www.payontime.co.uk/collect/collect_che que_clearing.html
well it should be safe but if you get a stupid enough teller they make take the cheque of the fraudulent party without looking at it and lodge if to an account in which it shouldn't have been lodged. it has happened. so the security of the crossing really depends on the acuteness of the bank official
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