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Topic: Re:Re:Is this a scam on
Posted by: Phil Kay
Date/Time: 06/07/15 13:55:00

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."

Entire Thread
TopicDate PostedPosted By
Is this a scam on 08:25:00 Stewart Jones
   Re:Is this a scam on 08:54:00 Gerry Tan
   Re:Is this a scam on 09:24:00 Dave Robertson
      Re:Re:Is this a scam on 09:30:00 Andy Pease
         Re:Re:Re:Is this a scam on 12:30:00 Jonathan Bingham
            Re:Re:Re:Re:Is this a scam on 12:43:00 Richard Greenhough
            From Cheque and Credit Clearing Company website06/07/15 12:45:00 Robert Fish
            Re:Is this a scam on 12:47:00 John Whitworth
               Re:Re:Is this a scam on 13:52:00 Jonathan Bingham
                  Re:Re:Re:Is this a scam on 14:26:00 Huw Burford-Taylor
               Re:Re:Is this a scam on 13:55:00 Phil Kay
                  Re:Re:Re:Is this a scam on 14:50:00 Richard Greenhough
                  Re:Re:Re:Is this a scam on 14:54:00 Janine Jarvis
                     Re:Re:Re:Re:Is this a scam on 20:22:00 Stewart Jones

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