lent colleague money

Brallaqueen

Hello all, i hope this is ok to.post here? Basically, i lent a colleague of mine some money and have got some of it back but not all.it has tailed off since i left the xompany. I have been given cheques for the outstanding amount but am worried these will bounce.

Is there any way of finding out from her bank if they will bounce before i try to cash them?

If they do bounce, will my bank halifax charge me for this?

Any advice would be v gratefully received x

koalamummy

Could you open a basic or savings account with the bank the cheques were issued from? If you do this then usually the money will be transferred from their account to yours instantly.

Ladyhawk

I thought it was the issuer that got charged rather that the people who' account it gets deposited into... but I could be wrong...

valk_scot

It's the issuer that will get charged, not you, if they bounce. Just make sure the money has cleared into your account before you try to use it.

Goldiegirl

The issuer of the cheque will certainly get charged, but the bank I work for charges £2.50 if a cheque is paid into an account and then bounces. We are a very small bank, and are more likely to be cheaper than the big banks.

Unfortunately, her bank won't give you any information about her account. Maybe pay one of the cheques in, and see what happens, before you pay them all in.

koalamummy

Also if you pay into your existing account leave the money there for as long as possible. There is a gap between when the funds are available to withdraw and when they have actually cleared into your account and are definitely yours.

mountainofdebt

Well there's no such thing as a post dated cheque so if you wanted to be sneaky you could bank them all a few days before she got paid and then there's a better chance of them not bouncing

If you want to play fair then just bank the relevant cheque a few days before payday

andygb

mountainofdebt wrote: »

Well there's no such thing as a post dated cheque

Really?
Care to explain?
If someone gives me a cheque today and dates it April 1st, then that is "postdated", and I would be very unwise to attempt to pay it into my account.

gardner1

mountainofdebt wrote: »

Well there's no such thing as a post dated cheque so if you wanted to be sneaky you could bank them all a few days before she got paid and then there's a better chance of them not bouncing

If you want to play fair then just bank the relevant cheque a few days before payday

i like your thinking:T

pigpen

andygb wrote: »

Really?
Care to explain?
If someone gives me a cheque today and dates it April 1st, then that is "postdated", and I would be very unwise to attempt to pay it into my account.

Possibly.. but legally if they have signed it you can put it in the bank the date is irrelevant, I had someone on ebay put the wrong date on by 3 years which cashed fine.. though most banks refuse a cheque dated 6 months previous.

dacouch

If the cheque do bounce, you can take the other person to court and it's basically an open and shut case to obtain judgement against them.

Getting the judgement out of them might not be easy though