Sif i use acheque garentee card the company still gets paid doesnt it its the bank that loses out and me?
Answer:
Unless the bank has informed you otherwise, the guarantee card WILL guarantee payment to the value of the guarantee - so if it is £100 all cheques to or under that amount will be honoured. But what you are suggesting is fraud and that is a criminal act. You will most certainly be caught and when you are the bank will not hesitate to take you to court. You'll be found guilty and spend the rest of your life with a record that will prevent you from ever getting a bank account again. Is it worth it?
Not necessarily - sometime the company doesn't get paid - you shouldn't do it.
Why has the bank "screwed" you?
You should take it further if you have lost out.
You will never get one over on the bank. Let it go. If you write a cheque without the funds to cover it then that amounts to fraud.
I take it by this you mean you knowingly will write cheques out supported by your CG card and also know you have no funds to cover them? The recipient will get paid, but you will be in deep do-do's! Its called Fraud and as much as a empathise with you, you could end up in court with the crapiest credit rating in the world. Banks do not forgive or forget!
Deliver a ton of manure to them instead.
Your Guarantee card will only cover a cheque up to the amount of the card, however if the bank feel that you are knowingly writing cheques without sufficient funds then it is fraud, a Criminal offence not a Civil one, and refuse to honor the cheque.
Effects to you : Criminal Record
County court Judgement
Public Ridicule
Confiscation Order of Property
Effects to bank : Zero
No. Company wont get paid, the cheque will bounce and you will be charged up to £35. A cheque guarantee card just means you are more lightly to have money in your account.
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it is actually illegal to write a cheque knowing you havent the funds to cover it. So the banks wont just be able to send the bailiffs in to get their money back (and they will) they will be able to put you in prison (and if it's pre-meditated, they will).
If you use the cheque guarantee card, the payment will go through, but you will incur charges and the problem will be with you and the bank, they may have you for fraud (if funds were not in the account when the money debits). The police could get involved as well.
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