|Topic:||Re:Re:Is this a scam on w4.com??|
|Posted by:||Phil Kay|
|Interesting dilemma - I've often thought about this when selling a car etc.|
I think in future I'll call my bank for specific advice about when any fraud ceases to be at my risk and becomes theirs. This would seem to be after 6 working days but is this absolutely accurate in the UK?
The most complete guidance I can see at the moment is from this org: "The Cheque and Credit Clearing Company is a non-profit making industry body funded by its members. It has managed the cheque clearing system in England and Wales since 1985 and in Scotland since 1996."
Their fact sheet is informative:
A couple of extracts:
"If you are selling a high-value item it is always safer
to ask for payment by some other means such as
an automated payment via Faster Payments, Bacs
or CHAPS. There is a charge for a CHAPS payment
but it is a guaranteed, irrevocable, same-day value
payment. If the buyer is unwilling to pay the relatively
small cost involved - or to split it with you - then you
need to be on your guard.
Be aware that if you decide to withdraw funds or
release goods before the end of the sixth day after
paying in a cheque there is a risk that the money
could be reclaimed by your bank if the cheque is
bounced or it turns out to be stolen or fraudulent.
If you’re not sure when the sixth working day has
passed you should check with your bank or visit our
Cheque Checker at
Or if you are paying a cheque into a bank in
Northern Ireland you can go to the BBCC website at
Be aware also that if you are a knowing party to a
fraud your bank or building society may recall funds
paid in by cheque from your account at any time."
" whilst banks do all they can to spot and stop such
cheques in the clearing process it is not until the end of
the sixth working day after you have paid the cheque
in that your bank, or you, can be sure that the cheque
funds are certain and the cheque will not be returned
unpaid to you."
|Topic||Date Posted||Posted By|
|Is this a scam on w4.com??||06/07/15 08:25:00||Stewart Jones|
|Re:Is this a scam on w4.com??||06/07/15 08:54:00||Gerry Tan|
|Re:Is this a scam on w4.com??||06/07/15 09:24:00||Dave Robertson|
|Re:Re:Is this a scam on w4.com??||06/07/15 09:30:00||Andy Pease|
|Re:Re:Re:Is this a scam on w4.com??||06/07/15 12:30:00||Jonathan Bingham|
|Re:Re:Re:Re:Is this a scam on w4.com??||06/07/15 12:43:00||Richard Greenhough|
|From Cheque and Credit Clearing Company website||06/07/15 12:45:00||Robert Fish|
|Re:Is this a scam on w4.com??||06/07/15 12:47:00||John Whitworth|
|Re:Re:Is this a scam on w4.com??||06/07/15 13:52:00||Jonathan Bingham|
|Re:Re:Re:Is this a scam on w4.com??||06/07/15 14:26:00||Huw Burford-Taylor|
|Re:Re:Is this a scam on w4.com??||06/07/15 13:55:00||Phil Kay|
|Re:Re:Re:Is this a scam on w4.com??||06/07/15 14:50:00||Richard Greenhough|
|Re:Re:Re:Is this a scam on w4.com??||06/07/15 14:54:00||Janine Jarvis|
|Re:Re:Re:Re:Is this a scam on w4.com??||06/07/15 20:22:00||Stewart Jones|