Fraudulent Cheques...

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:23AM in AAT student discussion
If I have suspicions that the cheque is fraudulent, how long should I leave it to clear to be sure that it isnâ??t? And the money will defo not bounce...?<BR><BR>

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    Fraudulent Cheques...

    I think - though Im not 100% - that the money could be recalled from your bank at anytime if it is fraudulent. Someone else may be able to answer this or confirm it?<BR><BR>Katherine
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Fraudulent Cheques...

    Watch out if it is an overseas cheque, there is a scam going on at the moment where cheques from overseas banks are being used to purchase large value items and after they are shipped the cheques bounce. Overseas cheques take months to properly clear!<BR><BR>Annette
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Fraudulent Cheques...

    months? is there are specific amount of time I should leave it?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Fraudulent Cheques...

    Best idea is talk to the bank. When I spoke to my bank about a british cheque, they said to leave it two weeks to be sure that it wouldn't bounce. If it's a british cheque you can also do special clearance which guarantees it, I think.<BR><BR>If it's overseas, just ring your bank for advice.<BR><BR><BR>Annette
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Fraudulent Cheques...

    Hi <BR><BR>I have just done a search in google under "Fraudulent Cheques", I went to page 6 and there is an article at the top of the page entitled "BBC News/Programmes/Moneybox/Q&A/ChequeClearing". This gave some of the answers I think you wanted.<BR><BR>Tracy

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