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UK diy (uk.d-i-y) For the discussion of all topics related to diy (do-it-yourself) in the UK. All levels of experience and proficency are welcome to join in to ask questions or offer solutions. |
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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. That's because 'clear' is the wrong word if you want to know if a cheque has been deposited irrevocably in your account. I think you need to ask if the cheque has been 'paid' or something like that. This has been discussed quite a lot in the uk.finance newsgroup. -- Chris Green |
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