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Death of the bard?
mattdickinson
Posts: 28 Forumite
As part of HSBC's change to their account structure, and the change to Visa debit cards, they will no longer be issuing cards with a cheque guarantee function to standard Current Account customers.
I wonder if this is the start of the end for cheque guarantee cards, especially as many shops no longer accept cheques.
I wonder if this is the start of the end for cheque guarantee cards, especially as many shops no longer accept cheques.
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Comments
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mattdickinson wrote: »As part of HSBC's change to their account structure, and the change to Visa debit cards, they will no longer be issuing cards with a cheque guarantee function to standard Current Account customers.
I wonder if this is the start of the end for cheque guarantee cards, especially as many shops no longer accept cheques.
So who will get cheque guarantee cards then?0 -
So who will get cheque guarantee cards then?
It appears that Current Account Advance customers will.
(The publicity sent out refers to the withdrawal of cheque guarantee facilities under the Current Account section, and doesn't mention it under the Current Account Advance section.)0 -
I see, that is interesting0
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Banks have been routinely not including cheque guarantee functions on debit cards for some time (eg Lloyds) others(eg NatWest) have made cheque fraud easier by dropping the actual account number altogether:
..so even if it bears the CG holgram on the reverse there is only the name and sort code to marry to the cheque book.... So the customer just opens two accounts with same bank branch and 'forgets' which card to use with his cheques...
Banks will of course claim that cheque use is falling (so they're giving it a nudge, so no 'harm' then) but by issuing cheque books to anyone that asks but not tying the issue of a cheque book to account conduct/scoring and only ever on accounts backed by CG cards, they are actually behaving deliquenytly themselves - exposing traders to risks when they (the banks) ought to be the ones checking their customers (no pun intended)
Of course if they had adopted a giro scheme years ago they could have withdrawn cheques (except for bankers drafts) and gotten people out the habit of writing too many cheques. Instead they've dragged their feet and we are where we are........under construction.... COVID is a [discontinued] scam0 -
Banks have been routinely not including cheque guarantee functions on debit cards for some time (eg Lloyds) others(eg NatWest) have made cheque fraud easier by dropping the actual account number altogether:
..so even if it bears the CG holgram on the reverse there is only the name and sort code to marry to the cheque book.... So the customer just opens two accounts with same bank branch and 'forgets' which card to use with his cheques...
Banks will of course claim that cheque use is falling (so they're giving it a nudge, so no 'harm' then) but by issuing cheque books to anyone that asks but not tying the issue of a cheque book to account conduct/scoring and only ever on accounts backed by CG cards, they are actually behaving deliquenytly themselves - exposing traders to risks when they (the banks) ought to be the ones checking their customers (no pun intended)
Of course if they had adopted a giro scheme years ago they could have withdrawn cheques (except for bankers drafts) and gotten people out the habit of writing too many cheques. Instead they've dragged their feet and we are where we are...
So Lloyds don't give out cheque guarantee cards at all now?? What about Barclays?
Also, how does issuing cheque books to anyone (which is not quite true anyway) expose traders to risks?0 -
Because it 'knowingly' puts youths and miscreants out there with cheque books and the trader is suspectable to simple cheque fraud such as presenting a debit card (with no CG function) to a busy cashier who - because they see so few cheques - and because they have a long queue behind the the customer (whose taking advantage of busy times like Xmas) can - and will - be duped to accepting it. Believe me, I seen it done. The cashier doesn't know what method of payment will be used until the little scrote takes out his chequebook at the end of a lot of scanning.. putting them on the 'back foot' as it were.Also, how does issuing cheque books to anyone (which is not quite true anyway) expose traders to risks?
My point is that banks are aware this is liable to happen but just go ahead and give out cheque books like candy when (IMO) they should shoulder some responsibilty for vetting customers and giving them chequebook/CG card as a privilege......under construction.... COVID is a [discontinued] scam0 -
To be honest, it makes sense to not give out CG cards to people who don't pay in their salaries. They're less likely to use them anyway, it limits what may be an unprofitable or dodgy customer's potential to go overdrawn and they might not credit enough money to justify it anyway.
As it is though, cheques as a method of payment in shops are on their way out by the looks of things. Debit and credit cards are just less hassle for all concerned, less cumbersome, far quicker and a lot more secure. Even with tradesmen or such who accept cheques, the total bill is likely to be far higher than the limit on any card...0 -
Because it 'knowingly' puts youths and miscreants out there with cheque books and the trader is suspectable to simple cheque fraud such as presenting a debit card (with no CG function) to a busy cashier who - because they see so few cheques - and because they have a long queue behind the the customer (whose taking advantage of busy times like Xmas) can - and will - be duped to accepting it. Believe me, I seen it done. The cashier doesn't know what method of payment will be used until the little scrote takes out his chequebook at the end of a lot of scanning.. putting them on the 'back foot' as it were.
My point is that banks are aware this is liable to happen but just go ahead and give out cheque books like candy when (IMO) they should shoulder some responsibilty for vetting customers and giving them chequebook/CG card as a privilege.
Actually I think it's the responsibility of the shops to train their staff properly!
Also if someone's credit is really shot I don't think they will get given a chequebook anyway. I believe you have to have a fairly reasonably credit status to get one. From what I've heard the Basic Accounts don't offer cheque books.0
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