I'm 99% sure this isn't the case. The whole point of the the cheque guarantee card is to guarantee payment to the payee up to the limit of the cheque card (used to be IR£200). I can't think of any reason why the bank would bounce the cheque, unless they suspected some kind of fraud was involved. I had kind-of forgotton about cheque guarantee cards - Do standard ATM cards still double as cheque guarantee cards?ClubMan said:Well, they could presumably bounce the cheque if there are insufficient funds or an insufficient overdraft facility available in order to honour the cheque.
Cheque Card
Account holders use it as proof of identity, and as a guarantee the bank will honour the cheque. When a person accepts a cheque, the signature on the cheque should be compared with the one on the card. It should be an up-to-date card and the card number should be written on the back of the cheque.
RainyDay said:and the card number should be written on the back of the cheque.
demoivre said:Just received my new Maestro debit card from AIB which replaces the laser/cheque guarantee card and the ATM card. On page 2 of the explanatory leaflet it specifically says "The card guarantees a cheque, to the value of € 130 ".
I take that to mean just that , AIB will pay up even if I have no funds in my account, provided the cheque doesn't exceed €130 .
Cheque
A written intruction from you to your bank it [sic] to pay a stated sum of money from your account to a person named on the cheque or occasionally to yourself. If there is not enough money in your account the bank may not honour the cheque (it bounces).
There is a guarantee, however, to pay a minimum of €130 if the person accepting the cheque has also been shown a cheque guarantee card by you.
demoivre said:I note in one of the T&C's that it says " You may not use the card:- to create an unauthorised overdraft on the account or extend an overdraft beyond an approved limit "
This contradicts what they say in the leaflet that I mentioned above.
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