Gaurenteed Cheques

smithja

pinkie-mermaid123 wrote: »

Thankyou for all the replys.


All this was done, and all details were corect. The cheque was for £100, which was the limit on the card, so that is also fine.

I have been checking and apparently, there have been another couple which have been returned aswell, so i'm assuming he is overdrawn. But if what you say is right, it does just seem as though the bank are just trying to get out of paying.

Did you by any chance have them all with the same date on them?

You cannot use more than one guaranteed cheque per transaction, which is easy to work out, say in a shop as they have times and receipts to prove each relates to a different transaction but if an indiviudal took more than one cheque in a day you would have to find a way of proving they were for different things. Maybe a receipt of some sort?

PaulW922

I would suggest, as has already been mentioned above, that this is the bank choosing not to pay guaranteed cheques - they are very good at not honouring their own promises. It does not matter is the card has been cancelled or not, the bank must still pay - it is just that they frequently don't.

The rules are fairly straight forward as has already been laid out above - signed in front of you, you put card number on the back, and it must be for a single transaction - so a whole series of cheques is not a good idea - but chances are all they are doing is not paying from an overdrawn account.

Your own bank will not be able to help - you need to approach the payers bank as smithja says above. I also agree that you should not mention it was for cash.

Banks often send debt collectors out to recover cards that they want back for this very reason - they are supposed to honour every guaranteed cheque!

it's one rule for them isn't it...?

M_Thomson

I always thought cheque guarantee cards are valid for retailers rather than private individuals?

barclaysguy

M_Thomson wrote: »

I always thought cheque guarantee cards are valid for retailers rather than private individuals?

I thought this as well, however cant find a reference. 99.9% sure your correct.

smithja

Nope, anyone can accept a guaranteed cheque as long as they go througth the procedure outlined above in the PDF.

In this case it is just the bank thinking "ah, this is not a big organistation" we can bounce it and bounce it again and they will probably go away. In saying that they do bounce cheques (when they are accepted) back to retailers if they did not follow the procedure too, i.e. cheque was for £110 and card £100. A lot of companies accepted cheque for more than the guarantee limit as long as you had additional ID with you.

hansi

Easiest way in the future is to ask your friend politely to cash his cheque at his bank. He may not stay your friend, but you'll have more money