If I open an account with cheque access, will the bank help me with information about cheques?
You will be given information on: • cheque clearing; • the effect of crossing a cheque; • the meaning of “not negotiable” and “account payee only”; • the significance of deleting the words “or bearer”; • stopping a cheque; • hints on how to reduce the risk of someone altering your cheque; • cheque dishonours. What information will I be given about application fees? Your bank must tell you about the existence of any application fee or charge, and tell you in advance whether the fee or charge is refundable, if your application is declined or not pursued. Can the bank use funds from my other accounts at the bank to repay my overdrawn account? The law gives a bank the general right to combine your account with another account you have with the bank which is in credit, unless there is agreement to keep those accounts separate. Your bank must tell you when you open an account whether the new account can be combined with your existing account and the consequences. Your bank will tell you if i
