buying postal orders with a cheque and gaurantee card

Mark7799

M_Thomson wrote:

No, The cheque guarantee card is only good for shops when you buy stuff. Not for personal cheques.

Disagree - the payee is irrelevant

http://www.apacs.org.uk/downloads/cheque_card.pdf

As long as you comply with the rules of the scheme, the drawee bank will guarantee payment of the cheque.

stressedoutmumof1

Tell your mate to be careful though!

I am always skint, and after a particularly bad month, ie running out of money 3 weeks before payday, I paid my childminder and got food shopping etc with guaranteed cheques and my bank (IF) took away my overdraft, downgraded my account to a basic account and sent some sort of collector round to pick up my cheque book and guarantee card. They told me what I was doing was fraud - ie spending money which I knew I never had!!

Still I've learned my lesson, and after regularly spending about £200 per month on bank fees (unpaid direct debits and being over my overdraft limit), I now stick within my budget and can't go over (as I now don't have an overdraft) and make sure there are ALWAYS enough funds to pay my direct debits. It was a huge shock at the time and an extremely tough first month - but it was probably the best thing to happen as I was spiralling out of control. Now for the first time in about 2 years when I get paid I'm not playing catch up!! Incidently I sent an email (which someone posted on here) to my bank disputing the charges for the following month after they had reclaimed the overdraft and they knocked £120 off!!

virgin_moneysaver

jakemuk wrote:

plan was for him to cash them at another post office and keep cash

well his balance will be even worse 'cos the bank will debit the amount of the cq when it is presented for payment

also, a later post said he was going to postdate a cheque (against the T&C of banking accounts) for you to bank - but if its for an amount greater than the cheque guarantee limit on his card then the bank can still return it if there are no funds to cover it ( eg . cheque for £80 but guarantee limit £50)