Precautions to take while cashing check

Banks and other such financial institutions serve as trusted companion in times of financial emergency. We depend upon these financial institutions to put aside our savings and valuables too as we believe that they guarantee safety.

But can you deny that cases of forgery and financial frauds exist. You can be cheated by financial agencies when you take Cash For Gold Birmingham, Adelaide or elsewhere. Your debit card can get stolen and all your savings can be taken away! While cheque cashing in Cannock, Zurich or anywhere else your sign can be forged and your money can whipped out of your bank account. Do not let these incidents happen to you.

Follow these precautions while availing Cheque Cashing Services in your bank to stay protected.

·         Endorser must be a known person

Never accept check from anyone who is not known to you. In addition to the name of the endorser, get information about the contact details of the person. This will prevent infiltration of black money in your personal account in absence of your knowledge.

·         Rewrites and discrepancies count

Never accept any check that has been overwritten. Also, ensure that the name of the payee and the endorsement are the same. Do not accept the check if you notice any discrepancy anywhere, or else you can be handed over a counterfeited check!  

·         Avoid outstation checks

Outstation checks are more prone to get bounced as you cannot get hold of the endorser. So, be alert about such checks.