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Stolen guaranteed cheques a big problem |
| Problems with stolen “bank guaranteed” cheques appear to be fairly widespread, if the response by readers to a story in The Citizen on Monday is anything to go by. A number of people have contacted the paper following publication of the difficulties a Pretoria businessman had with a bank-guaranteed cheque. Three people said they had accepted bank-guaranteed cheques, only to be told when presenting them for payment that the cheques had been stolen and the signatory was not an authorised one. “Just how far must one go to ensure that a cheque will be honoured?” asked one who had been scammed for goods on a VIP account. “When presented with the VIP cheque I still checked with the bank that there were sufficient funds to cover, and was told ‘no problem’. “It was a different matter when the cheque was actually presented for payment.” Another wanted to know what banks were doing about cheque fraud, while a third said the relevant section of the Bills of Exchange Act gave hope to “honest businessmen and traders”. Citizen 09/02/06 Click here to respond to this article - Your responses will get vetted and printed on "Have your Say" |
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