Cheques are a convenient way to make payments, but they can also be a source of fraud and errors. To ensure your cheques are processed smoothly and securely, avoid these common mistakes:
- Blank Cheques: Never sign a blank cheque. Only sign a cheque after filling in the recipient’s name, date, and amount. This will prevent anyone from misusing your cheque.
- Permanent Ink: Use a permanent ink pen to fill in all the details on the cheque, including your signature, the recipient’s name, date, and amount. This will prevent the details from being erased or altered.
- Write “Only” After the Amount: Always write the amount in both words and figures, and ensure the word “only” is written after the amount in words. This protects you from fraudsters adding more zeros to the amount.
- Cancelled Cheques: If you need to provide a cheque for account verification, write “Cancel” across the cheque. This prevents anyone from using the cheque for other purposes.
- Date: Fill date properly in cheque. Don’t leave the date field empty.
By following these simple guidelines, you can minimize the risk of cheque fraud, errors, and bounced cheques, ensuring your financial transactions remain secure and reliable.
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