To: Banks
Truth of cheques cleared/uncleared on bank statements
Dear Bank
Please do not mark up in statements as cleared cheques that have not been processed yet. And if you do, please accept liability.
Why is this important?
Most people do not know that if a cheque is marked as cleared in their bank statement it may well not be, but that the money to the amount of the cheque can be used. This is, however, well know to fraudsters who have making the most of it. The banks know this fraud is happening but still mark cheques as cleared and expect their customers to carry the costs.
