Reducing the risk of cheque fraud for us all, especially for the elderly.
Cheques have been in use since the 9th century, with their peak being in or around the early 1990s. Since then cheque usage has fallen, being partly replaced by electronic payment systems although they are still a preferred method of payment for many elderly people. Cheques are most commonly used by the elderly for shopping, bill payments and sent as gifts to relatives for Birthday and Christmas.
Despite the reduction in the usage of cheques, they are still a common cause of fraud and as such I welcome any campaigns to help in reducing cheque fraud.
LLoyds have included a visual guide in their cheque books detailing the correct way to complete a cheque. I have to admit I have not been completing mine correctly !
When you have written the name of the payee you are supposed to rule a line to the end of the space there to prevent anyone adding another name. Following the amount the cheque is for you also need to do the same. This applies even if you have written the word “only”