Banking Basics?

maximoo

With a nomadic job, it sometimes difficult to get even basic things done: I would like to know about the safety of sending large checks through the mail i.e. 10.000 or even 20.000 GP. Has anybody even done that? Any tips, about that?
Thanks,
Max

TomsMom

I've never sent one as large as that but I would have thought that as long as you fill in the payee's name and it is a crossed cheque then it is as safe as any cheque whatever the amount.

If you're at all worried send it registered or signed for (if that's allowed - not sure about the rules, you'd have to check with Royal Mail).

anniecave

If you are concerned, I would send it special delivery (costs £4.30)
You could send it signed for/recorded (cost £1.02 I think), as you'd then get a signature on delivery at least.
Crossed cheques can be altered and banks have no way of checking whether it's the originator or the intended payee or someone else that has changed them, but I wouldn't guess a criminal would change it and pay it into their bank account as it would be pretty obvious they'd get caught!

anniecave

if it is money you are paying into your own account, and you need to do it often, I would make alternative arrangements eg open an extra account somewhere that you can get to (eg halifax lets you pay in at a machine any time of the day or night), ask someone you trust to take them to a bank etc)

Debt_Free_Chick

maximoo wrote: »

With a nomadic job, it sometimes difficult to get even basic things done: I would like to know about the safety of sending large checks through the mail i.e. 10.000 or even 20.000 GP. Has anybody even done that? Any tips, about that?
Thanks,
Max

I've been sending cheques for credit to my current account via Mail for more than 20 years, with not problem ... until May last year when one went astray and was fraudulently paid into another account! :mad:

Can't you simply use another branch of your bank?

maximoo

Dear All,

so many thanks for the comments!!! ('can't unfortunately go to another branch bec. am abroad--which is the whole problem).

@Debt-Free-Chick: that is precisely my worry. So what happened? Could you recover the money?

Regards, Max

Debt_Free_Chick

maximoo wrote: »

Debt-Free-Chick: that is precisely my worry. So what happened? Could you recover the money?

Not yet. The drawer of the cheque has to go to their bank and tell them that the cheque has not been paid into the account of the intended payee. The drawer's bank has the cleared cheque, so they know the account it was paid into.

It all needs to be unravelled ......

I've been waiting for 6 weeks now - that reminds me, I must press the drawer for some progress and get them to nudge their bank.

Very frustrating .....

Could you not get the person paying to do a direct credit to your account e.g. via internet banking?

maximoo

debt-free-chick
the check ordeal sounds like a profound nuisance.Make sure that the bank does not delay things...
As far as my case is concerned I guess I need to pay a fee to the bank (that s what thez told me) or use the check....

Greetings, Max