In article ,
Andrew Gabriel wrote:
There is no longer any irrevocable cheque clearance date.
This came up on Radio 4's Moneybox a few months back.
If the funds on which the cheque was drawn turn out to be
stolen, fraudulent, laundered, or whatever, you can find
the cheque being bounced 6 months later, and people have.
This makes cheques pretty useless nowadays.

It seems to me total madness that a bank can clear a cheque - their job
after all to make sure it's not a forgery, etc, then take back the money
at a later date. Their recovery of any loss should be from the person who
issued the cheque.

--
*If a turtle doesn't have a shell, is he homeless or naked?

Dave Plowman London SW
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