Standard Bank has warned customers to be cautious when accepting cheques as payment for goods. This follows several cases of customers being presented with “cloned” Standard Bank cheques for second hand goods that were advertised in publications such as Junk Mail and Auto Trader. All these customers released the goods before the cheque had cleared.
These cases were mainly in the Randburg and Northcliff areas. According to the duped customers, the cheques were so well replicated that they were impossible to differentiate from original cheques.
Standard Bank advises customers not to release goods until the cheque has cleared through the bank. Cheques generally take seven calendar days to be cleared.
“Fraudsters usually try to convince their victims that any cheque is cleared within 48 hours. This is incorrect. Customers should never release goods paid for by cheque until the seven-day clearance period has elapsed and only when they know the cheque has been paid.
“On some accounts the bank allows the funds of cheques deposited to be immediately available. However, there is still the possibility that the cheque deposited may be unpaid. Customers are responsible for the amount if they have
withdrawn the money.
“Customers who are concerned about the authenticity of a cheque should contact their nearest branch.” – I-Net Bridge