4 Tips to Protect Your Cheques

A cheque is a wonderful financial instrument to make an easy transaction. However, do you know that cheques are also the commonly used financial instrument resulting in the highest percentage of fraud? Fortunately, there are ways you can avoid such cheque frauds. Let us help you learn some.

Tip#1: Cross the Cheque
Crossing a cheque means, the cheque can be only deposted to the payee’s account. This means, the payee needs to verify his bank account before cashing the cheque. Thus, if a cheque is lost, no one else can cash it.

Tip#2: Use a Ball Point Pen
One type of cheque frauds are caused due to the careless use of ink while writing the cheque. You can avoid fraudulent alterations by using a ball point pen to fill in the cheques. It is also important to fill in cheques clearly and carefully. Otherwise, it would be difficult for tellers to process your cheques.

Tip#3: Handle Cheques Carefully
Cheques should be handled carefully. You should never keep signed blank cheques lying around. These signed cheques can be misused by anyone. Thus, it is suggested to sign the cheques only when you need to use it.

Tip#4: Use a Secure Postal System to Send Cheques
Never use un-secured regular mail system to send cheques. There are many cases where sent items are not received by addressee. Thus it is always suggested to use registered mail or speed post to send highly important documents like cheques. Registered post and Speed post strictly prohibits acceptance of the post other than the addressee.

I hope these tips will help you make your cheque transactions safe and secure. If you have any other suggestions for protecting cheques, please let us know. As always, you can add your comments below.