Cheques.

Yes it certainly can. I deposited a cheque and asked my bank after 5 days if it had cleared and they said yes. Spent the money then discovered about a week later the cheque had bounced. Was then told it can take up to 3 weeks for it to 'clear'. Go figure.
 
Yep and even if you ring your bank and ask if it is "cleared" and they say yes, that doesn't mean it won't bounce later on. This is why when I sell on ebay I don't accept cheques. People say PayPal is bad but it's a lot safer for sellers than cheques are.
 
I was told ten working days by my bank.
It's the "Yes it's cleared"....."Sorry, it's bounced" time delay that the "send me the change from this cheque that's worth 20x your item" scam depends on.
dirtydog said:
People say PayPal is bad but it's a lot safer for sellers than cheques are
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I disagree there. Paypal accounts can be hacked and stolen CCs used, just like cheques can be stolen and used.
Banks are also governed by FSA regulations - PayPal are not.
 
Treefrog said:
I disagree there. Paypal accounts can be hacked and stolen CCs used, just like cheques can be stolen and used.
Banks are also governed by FSA regulations - PayPal are not.
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But it doesn't matter, you are still protected by PayPal so long as you follow the proper procedure, eg. ship to a confirmed address, use trackable delivery etc.

FWIW and AFAIK the best way to accept payment is by bank transfer (or cash deposit in a branch).
 
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dirtydog said:
But it doesn't matter, you are still protected by PayPal so long as you follow the proper procedure, eg. ship to a confirmed address, use trackable delivery etc.

FWIW and AFAIK the best way to accept payment is by bank transfer (or cash deposit in a branch).
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Or cash on collection. :)
I think that some people like the anonymity of Paypal - with transfers or collection you have to give out information about yourself that you may not be comfortable with giving out.
 
Treefrog said:
Or cash on collection. :)
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Provided you can spot counterfeit cash ;)

I think that some people like the anonymity of Paypal - with transfers or collection you have to give out information about yourself that you may not be comfortable with giving out.
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True, although I've never understood people's reluctance to hand over their bank details for bank transfers, when it is only the exact same info which is on a cheque.
 
suicidle_tramp said:
Though with a cheque all you are handing over is your name and address.
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And your account number, sort code and branch address. Not to mention a sample of your handwriting and signature.
 
williamw11 said:
Your bank details are on the bottom of the cheque.
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I'm talking about recieving a cheque, sorry that I didn't put that, it's early :o

Dirtydog, does the person who sent out the cheque get that then when it has cleared?
 
Also, these nigerian scam artists do the cheque thing and CAN catch you out if your not aware of bank procedures.

For eg:

A scammer can send you a counterfit cheque which looks fine, it WILL cash and be credited into your bank and then you have the funds. But thats only your bank saying the funds are available. When that cheque gets back to the original bank of the cheque, that is when things are found out, ie: its counterfit. This can happen upto 3 months after you have put that money into your bank. It is in your T&C of bank trading etc. But of course no one reads them. Plus when it is found to be counterfit the BANK can then take that money out of your bank up to 3 months after you deposited the cheque in.

Only way to be 100% sure is for you to "present" cheque, You have to pay for this of course £20 - £25 which means the bank will 100% quarentee that the funds are available to you and that that cheque has no problems with it or the holder of that cheque account.
 
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