Bounced cheque procedure.

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Comments

  • brewerdave
    brewerdave Posts: 8,507 Forumite
    Name Dropper First Anniversary First Post
    ....or they haven't got a signature for your friend on record, or it doesn't match.....my wife wrote a cheque out for a reasonably large sum which was returned as potentially fradulent but was just down to the bank not having a signature to compare with -or so they said!!
  • pna1
    pna1 Posts: 21 Forumite
    These helpful replies tend to focus on the idea of fraud.
    I have a slightly different issue - though some would say it WAS fraudulent if there was prior knowledge that it would not clear.
    A contact sent me a cheque to cover a loan( but it has just bounced).
    I contacted him and he has assured me that he will do an electronic transfer instead in the next couple of days. We will see.
    I do have extensive email and text records that very clearly acknowledge the debt but there was no formal contract. (Yes, you do learn)
    I am at least in contact and have home address details etc and he is fundamentally decent but what else should I do to protect myself?
    Thanks for any replies
  • mgdavid
    mgdavid Posts: 6,705 Forumite
    First Anniversary Name Dropper First Post
    take out a life insurance policy on him for the loan amount
    The questions that get the best answers are the questions that give most detail....
  • meer53
    meer53 Posts: 10,217 Forumite
    First Post First Anniversary Combo Breaker
    Did your friend report his cheque book as stolen ? This is probably why they returned it as fraudulent.
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
    Name Dropper First Anniversary First Post Combo Breaker
    I'm astonished people still use cheques. Haven't had a cheque book for I don't know how long and I'm sure some establishments have said they wont accept them anymore.
  • EarthBoy
    EarthBoy Posts: 3,040 Forumite
    Name Dropper First Post First Anniversary
    Deleted_User wrote: »
    I'm sure some establishments have said they wont accept them anymore.

    Most establishments, not just some. They became useless in shops when the cheque guarantee card scheme ended in 2011, although some shops had already stopped accepting them well before then.
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