Cheques: What you can do

Are you planning to accept a payment by cheque? Then ask your bank not to settle under usual reserve, but to accept subject to clearance. Your bank will then verify whether the cheque is valid and covered by sufficient funds before crediting your account. This takes a little longer, but reduces your financial risk.

However, the financial risk is not entirely eliminated. Even a cheque accepted subject to clearance may later turn out to be forged or counterfeit. In this case, the bank will reclaim the money from you. If you are confronted with such a forged or counterfeit cheque, you can report it to the local police.