| If the cheque originates from a Bank outside the UK, even if in Sterling, your bank can clear the cheque in 5 working days (Negotiation) and pay the money into your account, however if it subsequently bounces when sent back to the originating bank then they will take the money from you. The other method is for you to wait till the cheque goes through the clearing system (collection) and that can take 5 weeks.
The scammer relies on your bank provisionally clearing the funds and you think you have the money safe and sound but 4 or 5 weeks later you find you haven't.
Our bank gives us the option of which method we want to use.
__________________ When I die, I want to go peacefully like my Grandad did, in his sleep -- not screaming, like the passengers in his car |