Were Bank

grumbler

I am surprised that a court was needed to establish this obvious fact.

By definition, cheque is just "an order to a bank to pay a stated sum from the drawer's account, written on a specially printed form."

That's why cheques take time to clear.

If there is no any "drawer's account" or the money isn't paid by the bank for any reason, the recipient receives nothing and has a comeback only against the drawer.

If the drawer knew that there was no money, he committed fraud.

If the drawer gave money to some company pretending to be a bank, the drawer was defrauded.

rizla_king

unfortunaley no so obvious to some, as otherwise would never have gone to court.

uncreative

You have to pay them using £ Sterling for both the chequebooks and the monthly fee.

Paul_1977

Getting very serious now.

http://www.dailymail.co.uk/money/mortgageshome/article-3514575/Many-borrowers-face-losing-home-signing-unauthorised-online-bank.html

http://www.ombudsman-decisions.org.uk/viewPDF.aspx?FileID=104875

In one recent case, a man faces having his home repossessed after he tried to pay off his £67,500 mortgage with a cheque issued by WeRe Bank. The customer's lender, The Mortgage Works, refused the cheque and the man complained.

But the ombudsman ruled The Mortgage Works was entitled to be paid in legal tender and that the cheque was worthless.

WeRe could not be reached for comment.
The Ombudsman said it could not 'emphasise strongly enough the seriousness of the position' in which the couple found themselves.

JuicyJesus

And another one bites the dust...

http://ombudsman-decisions.org.uk/viewPDF.aspx?FileID=109311

JuicyJesus

Oh jesus I actually laughed out loud at this from the link Paul_1977 posted:

Instead, WeRe Bank has invented its own
systems – SPIT (Secure Protocol Information Transaction) and SWALLOW (Secure
Waygate – Allow).

:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:

And possibly my favourite blunt statement of fact from any Ombudsman decision ever (and that has competition):

imaginary energy units are not a form of currency and they do not pay debts.

GingerFurball_2

I can't believe people are actually wasting the time of the ombudsman over this.

grumbler

It's just amazes me how far FOS goes with pointless explanations instead of simply saying that Tesco had no means of clearing the cheque, i.e. receiving money from WRB that never executes it's customers instructions to pay the money.

It doesn't matter whether it has licence or not and whether it participates in the current 'clearing system'.

This is if the cheque is in £. If it's in 'energy unites', Tesco and any other banks have no obligations to accept cheques in all exotic 'currencies'.

JuicyJesus

grumbler wrote: »

It's just amazes me how far FOS goes with pointless explanations instead of simply saying that Tesco had no means of clearing the cheque, i.e. receiving money from WRB that never executes it's customers instructions to pay the money.

It doesn't matter whether it has licence or not and whether it participates in the current 'clearing system'.

This is if the cheque is in £. If it's in 'energy unites', Tesco and any other banks have no obligations to accept cheques in all exotic 'currencies'.

I personally am grateful simply for Jan O'Leary taking the time to spell out in punishing detail exactly how stupid WeRe Bank is. She does the same thing with the people who download documents off the internet then make complaints about their mortgages being illegal and it's beautiful to see.

If there is one thing the FOS do to perfection it's explaining why people are morons in impeccably diplomatic ways.

grumbler

IMO, this happening in our nanny state shows and obvious flaw in the laws that had to be corrected years ago instead of keeping giving lengthy explanations to people/victims that are, in fact, incapable of understanding even far more basic financial matters.

WeRe Bank isn't stupid. People are. WeRe take advantage of the flawed law and of peoples stupidity to make money. The government's job is to protect people from conmen, and it obviously fails to do the job.