What is a "building society cheque"?

bristol_rob

Essentially they are mutual societies. Owned by their customers as opposed to banks who are owned by shareholders.

In theory they offer better products at better rates, however with consolidation in both banking and building society sectors the difference is slowly eroding.

The Building Society chque is an equivalent of a bankers draft and is used as a secure method of payment, generally when large sums are involved.

mousa

walchas wrote: »

I tried to stop a nationwide cheque to a Cowboy Builder and was told it could not be stopped. The Builder was featured on a T.V program, I went to the Builders office and they had disappeared. I went to the Police they said to stop the cheque I said I could not so they phoned Nationwide and was told it could not be stopped. If they can have a stop put on them can you tell me how to do it.

I tried to stop a building society cheque (it got lost in the post and the recipient never got it). I had to get the receipient to write a letter saying they hadn't received it, before they would cancel it. Luckily they were co-operative and did so quickly. I
then had to go back to the branch and get it cancelled.