Cheque question ...

.... if one were to bank a cheque drawn on a B/S, does one *need* to
wait for it to clear? Or is it pretty safe?

 

Using the patented Mavis Beacon "Hunt&Peck" Technique, Salad Dodger

I've probably mentioned this before, but just in case...

Twelve or so years ago I took over application support for a Building
Society "Oop Narth". I got a complete front office setup, including a
printer and representative examples of their stationery. Including about
150 uncancelled B.S. cheques...

I thought about it for a couple of minutes, then made my decision.

I went and found my boss and made him watch whilst I stamped them all
"CANCELLED".


Wait for it to clear.

--
Wicked Uncle Nigel - Manufacturer of the "Champion-105" range of rearsets
and Ducati Race Engineer.

WS* GHPOTHUF#24 APOSTLE#14 DLC#1 COFF#20 BOTAFOT#150 HYPO#0(KoTL) IbW#41
Enfield 500 Curry House Racer "The Basmati Rice Burner",
Honda GL1000K2 (On its hols) Kawasaki ZN1300 Voyager "Oh, Oh, It's so big"
Suzuki TS250 "The Africa Single"

 

Using the patented Mavis Beacon "Hunt&Peck" Technique, Bear

No it's not. That would be the old "Forbidden Fruit" and "It'll be fine"
trick.

Fucking bitch.

--
Wicked Uncle Nigel - Manufacturer of the "Champion-105" range of rearsets
and Ducati Race Engineer.

WS* GHPOTHUF#24 APOSTLE#14 DLC#1 COFF#20 BOTAFOT#150 HYPO#0(KoTL) IbW#41
Enfield 500 Curry House Racer "The Basmati Rice Burner",
Honda GL1000K2 (On its hols) Kawasaki ZN1300 Voyager "Oh, Oh, It's so big"
Suzuki TS250 "The Africa Single"

 

Typical, woman getting the blame after listening to a male snake.

 

Salad Dodger emerged from their own little world to say

The only way to be fairly sure it is genuine is to go along to the branch
with the account holder and watch it be printed

If you have received it in the post or delivered in person then wait for it
to clear just like a normal cheque. Same applies to bank drafts. I've read
of a few cases where a bank has credited a customer with the money only to
demand a refund once the issung bank rejects the draft as a fake.

 

Lady Nina emerged from their own little world to say

and there's me thinking that it is only blokes that take instruction from
the snake

 

Lady Nina says...

Maybe she shouldn't have got so close that she could listen to it
hissing.

 

Wait.

 

Who says it was male? Not that I'm a Bible fan, but I don't remember anyone
ever assigning gender to the snake before.

Far more likely to be a woman; you know how they gossip ;-)

 

Using the patented Mavis Beacon "Hunt&Peck" Technique, Dan White

I've just checked. The KJB does say "he". Probably a translation error.

--
Wicked Uncle Nigel - Manufacturer of the "Champion-105" range of rearsets
and Ducati Race Engineer.

WS* GHPOTHUF#24 APOSTLE#14 DLC#1 COFF#20 BOTAFOT#150 HYPO#0(KoTL) IbW#41
Enfield 500 Curry House Racer "The Basmati Rice Burner",
Honda GL1000K2 (On its hols) Kawasaki ZN1300 Voyager "Oh, Oh, It's so big"
Suzuki TS250 "The Africa Single"

 

It might be stolen or a forgery. Only way to be fairly sure is to do the
transaction during banking hours and call the issuing bank to confirm
the validity of the cheque.

 

If you pay it into a branch of that BS, it goes in as cleared funds and
you can draw on it straightaway.

I've done this several times, so take this as gospel. Of course, the BS
might try and claw the money back later if something goes wrong.

If you're worried it might be a forgery, ask the BS to check properly
before you draw against it.

That's assuming it's a proper BS cheque, a counter cheque, and not a
cheque written by someone who has a BS chequebook, IYSWIM.

Otherwise, you have to wait for it to clear.

 

Call the issuing BS for verification.

 

Still not 100% safe though - banks will happily 'clear' cheques without
doing the necessary security checks. When they find out ones faked, it could
be several weeks / months later, and you'll lose every penny. A fairly
common fraud.