National Irish Bank have introduced a new crossing on all new chequebooks issued since the beginning of October. They now include an automatic crossing "& Co."
I tend to write a lot of cheques to "Cash" but I don't think I can continue to do so with this crossing. Does anyone know if you can continue to write cheques to cash with a crossing? I think & Co means they have to be lodged, because they can be endorsed on the back to my knowledge, and lodged to a third parties account.
Would it be okay to make a cheque payable to cash once its lodged? I do not want it to bounce and have problems for the payee.
I wish this was an opt-in service, I suppose its another method to discourage Cheque use. But when you pay €12.50 Govt Duty you expect some flexibility.
I know BoI have a crossing but no wording "& Co." etc.
I tend to write a lot of cheques to "Cash" but I don't think I can continue to do so with this crossing. Does anyone know if you can continue to write cheques to cash with a crossing? I think & Co means they have to be lodged, because they can be endorsed on the back to my knowledge, and lodged to a third parties account.
Would it be okay to make a cheque payable to cash once its lodged? I do not want it to bounce and have problems for the payee.
I wish this was an opt-in service, I suppose its another method to discourage Cheque use. But when you pay €12.50 Govt Duty you expect some flexibility.
I know BoI have a crossing but no wording "& Co." etc.