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Is sending cheques safe?

All the accounts I have opened have been done by going to the branch. Is it worth sending a cheque to a bank, that offers a higher rate? As there isn't some banks where I live.

What happens if the cheque goes missing, will the bank charge you?

Thanks for any replies


  • As long as the interest that you lose while the cheque is clearing doesn't outweigh the better rate you can get elsewhere, then it's a perfectly good plan. Though are you able to use online banking, and to organise transfers through that? It's a bit quicker, and more convenient too.

    As far as sending cheques goes, if the cheque goes missing then you can "stop" the cheque, but many banks charge for that. I'm with the Nationwide, and I know they don't, but my old Barclays current account charges £10.
  • masonicmasonic Forumite
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    Most banks don't charges for cheques stopped because they were lost in the post.
  • ManAtHomeManAtHome Forumite
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    Most now ask you to put their name plus your own on the cheque, eg "Bank of High Rates/Fred Bloggs" - much more difficult to nick and cash.
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