High Security Checks - Bank Cheques Ireland

[TinyChamp]

I’ve been using regular cheques to pay suppliers that don;t want to process an online payment. Sometimes they want the cheque marked out as ‘cash’. But I know this presents a security risk if the check fell into the wrong hands. In the US businesses can use high security checks.

Is there such a thing as a high security cheque in Ireland? I’ve been reading about how US businesses use high security checks to prevent fraud - specifically check fraud. These bank checks are like regular checks on steroids. They have special secirity features built into them to prevent counterfeiting. basically, they’re very difficult to copy.

Bank of Ireland and AIB don;t seem to have anything that works in the same way. They offer bank drafts - but this is a different thing. You need to purchase a draft by going to the bank and it’s very time consuming. High security checks can just be written and issued as and when they are needed. If there was something equivalant here in Ireland it would be great.

 

[Towger]

If the cheque is made out to Cash then it is made out to Cash... The security is to stop fake cheques. You could always get your own cheques printed with your logo, special coloured inks and a hologram. You also should use a printer with indelible ink to print on them, never use a laser printer. There are still a few printers who do custom cheques, we used Aluset back in the day. But, I assume you are talking about a low volume of cheque.

 

[ClubMan]

I don't think such a thing (security cheques) exists in Ireland.
I've certainly never heard of it.
But you might want to check here.

Customer Assistance - Banking & Payments Federation Ireland

Banking & Payments Federation Ireland (BPFI) is the voice of banking and payments in Ireland. Representing over 100 domestic and international member institutions, we mobilise the sector’s collective resources and insights to deliver value and benefit to members, enabling them to build...

bpfi.ie

 

[Towger]

They exist but you would need to get them printed yourself and go through the approval process with your bank.

 

[NoRegretsCoyote]

If there was something equivalant here in Ireland it would be great.

Sorry for being glib, but a high security solution is an electronic fund transfer.

 

[ClubMan]

Sometimes they want the cheque marked out as ‘cash’.

That seems a bit fishy? But...

But I know this presents a security risk if the check fell into the wrong hands.

isn't that their risk/problem rather than yours?
If they lose the cheque and somebody else cashes it then that's their problem?

 

[TinyChamp]

I don't think such a thing (security cheques) exists in Ireland.
I've certainly never heard of it.
But you might want to check here.

Customer Assistance - Banking & Payments Federation Ireland

Banking & Payments Federation Ireland (BPFI) is the voice of banking and payments in Ireland. Representing over 100 domestic and international member institutions, we mobilise the sector’s collective resources and insights to deliver value and benefit to members, enabling them to build...

bpfi.ie

Hey Clubman, thanks for the Banking & Payments Federation Ireland link. I’ve checked it out. Can’t see anything there about security cheques. They’re just like what Towger is talking about, cheques with holograms, branding, and logo. Here’s what I’m talking about - high security checks. They seem to be a thing in America. But the Irish banks don’t seem to offer them. It looks like a money order/bank draft is the only equivalant over here. but as I have said, that’s just not practical if you need to make regular payments.

 

[WaterWater]

I remember back in the day we sometimes issued a "debit" docket on a customers account. The account owner would sign the debit docket and pass it on to his supplier, who would then lodge it in to his account as a form of cheque. You would have to take the debit docket to the drawer's bank branch and lodge it to your account from there.......the account was debited and the funds transferred by way of credit transfer to the payees account.

 

[RedOnion]

But the Irish banks don’t seem to offer them

What exactly are you looking for security from?
In your opening post you talked about the risks of cheques made payable to cash. Having secure cheques eliminates none of the risk there.

 

[thedaddyman]

BPI has a standard which is expects cheque printers to follow and that includes standard security features such as ink that if you try and change the wording on a cheque (such as the amount) can damage.

Banks have very good software that detects transactions that are out of the norm based on value, serial numbers and other criteria. Some of them also have people who look at cheques over a high threshold (e.g. 10k) and look at them for damage under a UV light. Drafts have no additional security feature that a cheque can't have. If anything, drafts are riskier because you can't place a stop on it and if it got lost and had to be replaced, it's quite possible the bank will ask you to sign an indemnity

No connection but there is a printers in Longford called Pierces/Pearces that used to print a lot of cheques for companies,.

Use of cheques is often for companies to manage cash flow rather then anything else, since it will take a number of days longer for their account to be debited