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where's the HSBC thread?
I can't find the thread of the dude who works for HSBC - has this been deleted?
I'd like to ask him something about HSBC and cheques. If the thread has been deleted - here is my question if the dude sees this. If a corporate cheque is issued and you can see the debit in the account/bank statement, however the beneficiary denies having cashed it/banked it, how easy or difficult is it for the bank to put a trace on the cheque? I've heard banks can't do this easily - is this true? |
Re: where's the HSBC thread?
Originally Posted by mission
(Post 12179424)
I can't find the thread of the dude who works for HSBC - has this been deleted?
I'd like to ask him something about HSBC and cheques. If the thread has been deleted - here is my question if the dude sees this. If a corporate cheque is issued and you can see the debit in the account/bank statement, however the beneficiary denies having cashed it/banked it, how easy or difficult is it for the bank to put a trace on the cheque? I've heard banks can't do this easily - is this true? |
Re: where's the HSBC thread?
Originally Posted by mission
(Post 12179424)
I can't find the thread of the dude who works for HSBC - has this been deleted?
I'd like to ask him something about HSBC and cheques. If the thread has been deleted - here is my question if the dude sees this. If a corporate cheque is issued and you can see the debit in the account/bank statement, however the beneficiary denies having cashed it/banked it, how easy or difficult is it for the bank to put a trace on the cheque? .... |
Re: where's the HSBC thread?
Originally Posted by mission
(Post 12179424)
I can't find the thread of the dude who works for HSBC - has this been deleted?
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Re: where's the HSBC thread?
Originally Posted by BEVS
(Post 12180191)
Yes. Was deleted re advertising I believe.
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Re: where's the HSBC thread?
Originally Posted by Miss Ann Thrope
(Post 12180246)
But ...but......the Lebanese ladies....
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Re: where's the HSBC thread?
Originally Posted by Johnnyboy11
(Post 12179492)
So, you are looking for banking advice from an Egyptian chap, whose username was an American wrestler (The Undertaker), purporting to work for HSBC and willing to give advice for free in his own time? :blink:
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Re: where's the HSBC thread?
Originally Posted by Pulaski
(Post 12179536)
Likely very easy in theory, but whether (i) the customer service assistant is trained to perform a trace, (ii) the customer service assistant has access to the right system(s) to perform the trace, and (iii) the bank is willing to make it cheap and easy for you to get the information, are whole other matters! :rolleyes:
I never understood the concept of taking copies of cheques. |
Re: where's the HSBC thread?
I never understood HSBC in UAE. Except that the decision makers which whom I dealt were the opposite of customer focused.
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Re: where's the HSBC thread?
Originally Posted by mission
(Post 12180267)
the thing is I've heard that it's not so easy for the bank to trace a cheque and hence why every tom, dick & harriett end up taking copies of cheques before banking them - otherwise what is the whole point of taking copies of cheques if it was deemed very straight forward to put a trace on a cheque.
I never understood the concept of taking copies of cheques. Citibank would then send the check to the National Bank of Abu Dhabi's USD correspondent, which might be, say, Standard Chartered Bank in New York, who would then send it to the National Bank of Abu Dhabi, who would debit the account on which the cheque was drawn, and then send the money back along the same chain that the cheque traveled. Obviously there were plenty of opportunistic for the cheque to go missing! It is also why depositing foreign cheques was slow and expensive. Now the documents can be scanned and processed electronically, but they still have to pass through the chain of banks in most cases, with USD cleared in New York, GBP in London, JPY in Tokyo, etc. |
Re: where's the HSBC thread?
Am I missing something? On my personal and employer's bank account I can pull up an image of the paid check on-line and see when and where it was cashed/paid in. In every case of questions about non-payment the beneficiary has "forgotten" that they had received it!
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Re: where's the HSBC thread?
Originally Posted by MidAtlantic
(Post 12180582)
Am I missing something? On my personal and employer's bank account I can pull up an image of the paid check on-line and see when and where it was cashed/paid in.
The problem is with cashiers cheques, bank drafts, and money orders (post #1 referred to a "corporate check"), they are drawn on one of the bank's own accounts, which might have hundreds of cheques a day cleared through it, and obviously customers don't have access to see if they cheque they purchased has been cleared yet. |
Re: where's the HSBC thread?
Originally Posted by mission
(Post 12179424)
I can't find the thread of the dude who works for HSBC - has this been deleted?
I'd like to ask him something about HSBC and cheques. If the thread has been deleted - here is my question if the dude sees this. If a corporate cheque is issued and you can see the debit in the account/bank statement, however the beneficiary denies having cashed it/banked it, how easy or difficult is it for the bank to put a trace on the cheque? I've heard banks can't do this easily - is this true? I don't work in corporate dept, what I know regarding the cheques in general that they have serial numbers and a digital mark printed on the cheque, as long as you have sufficient funds in the account from the date of writing the cheque for six months then you don't have to worry, the system in HSBC shows the serial number of the cheque and the amount and they can communicate with the other bank and the other bank may tell the sender bank if that number with the amount has been deposited to the beneficiary account or not (I am not sure about the communication between the banks but logically if there is a legal case both banks adhere to the central bank regulations). I can tell a story would benefit, I received a call from a premier British customer :D and guess what, she wrote a cheque to the landlord and she thought like other banks the clearing time would be in 5 days, however in HSBC it takes 2 working days maximum, so she wrote the cheque before the day of the date of the rend payment and then her husband transferred the money to her account about two hours later the same day after she already wrote the cheque, the cheque returned as insufficient funds right away and she was penalized from the landlord 2000 AED for that plus the bank charges (100 AED), the irony was that the lady was upset from the bank from the speed of the clearing cycle :D, however her RM communicated with the other bank and the landlord hoping to reduce the penalty, I hope that happened. Anyway, be careful of returned cheques as central bank made a law in UAE if 3 returned cheques in a row they would close your account and at least you will be blacklisted and you will be deprived from many services in the banks, in HSBC if you have got a returned cheque due to insufficient funds you cannot order a cheque book the following six months. I hope I helped. Cheers :) |
Re: where's the HSBC thread?
Originally Posted by Miss Ann Thrope
(Post 12180246)
But ...but......the Lebanese ladies....
https://i.ytimg.com/vi/5r6y3kJymx0/hqdefault.jpg |
Re: where's the HSBC thread?
Originally Posted by Bahtatboy
(Post 12180379)
I never understood HSBC in UAE. Except that the decision makers which whom I dealt were the opposite of customer focused.
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Re: where's the HSBC thread?
Originally Posted by Johnnyboy11
(Post 12179492)
So, you are looking for banking advice from an Egyptian chap, whose username was an American wrestler (The Undertaker), purporting to work for HSBC and willing to give advice for free in his own time? :blink:
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Re: where's the HSBC thread?
Originally Posted by Mark callaway
(Post 12180849)
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Re: where's the HSBC thread?
Originally Posted by Mark callaway
(Post 12180845)
Yest it was deleted for advertising rules.
I don't work in corporate dept, what I know regarding the cheques in general that they have serial numbers and a digital mark printed on the cheque, as long as you have sufficient funds in the account from the date of writing the cheque for six months then you don't have to worry, the system in HSBC shows the serial number of the cheque and the amount and they can communicate with the other bank and the other bank may tell the sender bank if that number with the amount has been deposited to the beneficiary account or not (I am not sure about the communication between the banks but logically if there is a legal case both banks adhere to the central bank regulations). I can tell a story would benefit, I received a call from a premier British customer :D and guess what, she wrote a cheque to the landlord and she thought like other banks the clearing time would be in 5 days, however in HSBC it takes 2 working days maximum, so she wrote the cheque before the day of the date of the rend payment and then her husband transferred the money to her account about two hours later the same day after she already wrote the cheque, the cheque returned as insufficient funds right away and she was penalized from the landlord 2000 AED for that plus the bank charges (100 AED), the irony was that the lady was upset from the bank from the speed of the clearing cycle :D, however her RM communicated with the other bank and the landlord hoping to reduce the penalty, I hope that happened. Anyway, be careful of returned cheques as central bank made a law in UAE if 3 returned cheques in a row they would close your account and at least you will be blacklisted and you will be deprived from many services in the banks, in HSBC if you have got a returned cheque due to insufficient funds you cannot order a cheque book the following six months. I hope I helped. Cheers :) I just want a simple and straight forward answer....we issued a CORPORATE cheque which we can see has been debited from our bank account/statement, however the beneficiary is denying ever had the cheque - so my question is how simple or difficult is it for the bank to put a trace on the cheque and confirm the account details of where the money was credited? |
Re: where's the HSBC thread?
Originally Posted by Pulaski
(Post 12180548)
Well it used to be that checks were mailed/couriered between banks as part of the clearing process, so if you deposited a USD cheque drawn on the National Bank of Abu Dhabi into your account at Bank Muscat, Oman, then Bank Muscat would send the cheque to their USD correspondent bank, which might be, say, Citibank in New York (in any case it would be a bank in the US).
Citibank would then send the check to the National Bank of Abu Dhabi's USD correspondent, which might be, say, Standard Chartered Bank in New York, who would then send it to the National Bank of Abu Dhabi, who would debit the account on which the cheque was drawn, and then send the money back along the same chain that the cheque traveled. Obviously there were plenty of opportunistic for the cheque to go missing! It is also why depositing foreign cheques was slow and expensive. Now the documents can be scanned and processed electronically, but they still have to pass through the chain of banks in most cases, with USD cleared in New York, GBP in London, JPY in Tokyo, etc. |
Re: where's the HSBC thread?
Originally Posted by MidAtlantic
(Post 12180582)
Am I missing something? On my personal and employer's bank account I can pull up an image of the paid check on-line and see when and where it was cashed/paid in. In every case of questions about non-payment the beneficiary has "forgotten" that they had received it!
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Re: where's the HSBC thread?
Originally Posted by mission
(Post 12181297)
yes you are missing the whole point of my thread :blink:....I am referring to a cheque that has been debited and the beneficiary is denying ever having had the cheque - the details online may say Joe Bloggs, who the cheque was made out to, but Joe Bloggs is saying he hasn't received it and so I am asking how easy or difficult is it for the bank to confirm the actual account details of where the funds were credited.
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Re: where's the HSBC thread?
Originally Posted by mission
(Post 12181295)
ok, i am sorry but either you didn't understand what I was asking or I didn't spell it out correctly.
I just want a simple and straight forward answer....we issued a CORPORATE cheque which we can see has been debited from our bank account/statement, however the beneficiary is denying ever had the cheque - so my question is how simple or difficult is it for the bank to put a trace on the cheque and confirm the account details of where the money was credited? |
Re: where's the HSBC thread?
Originally Posted by Miss Ann Thrope
(Post 12181155)
Haaa, you're funny - stay around the bored why don't you. There are even more interesting topics than HSBC!
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Re: where's the HSBC thread?
Originally Posted by mission
(Post 12181295)
ok, i am sorry but either you didn't understand what I was asking or I didn't spell it out correctly.
I just want a simple and straight forward answer....we issued a CORPORATE cheque which we can see has been debited from our bank account/statement, however the beneficiary is denying ever had the cheque - so my question is how simple or difficult is it for the bank to put a trace on the cheque and confirm the account details of where the money was credited? Ok, as you people say the question doesn't make sense (with all respect to you personally), why? because it is not the duty of the bank, it is your duty, you wrote a legal paper and the other person denied receiving it, who's fault is that? it is your fault, what if the beneficiary traveled with the cheque and deposited in ATM deposit machine in Cambodia or Iceland? how the bank will trace it?, that is why the best option to transfer money between accounts from the branch or online banking or you yourself go with the cheque and deposit it where you know where and when and to which bank you deposited it, same idea like you gave cash to a person and no witness and he denied, it is your fault, so if you own a company and you wrote a cheque to John Goblins or whatever and they denied receiving a cheque just ignore his claim and don't write another cheque, if he sued you then maybe the central bank would order all banks to search for that cheque with the serial number in all banks in the country or maybe all over the world I don't know but from the bank side it is not their business. |
Re: where's the HSBC thread?
Originally Posted by Pulaski
(Post 12181522)
The paid cheque should be printed, on the back, with the details of the account it was paid into. With electronic processing it might not actually be on the back, but when "your" bank receives the cheque to be paid, it will come with details of which account it was paid into.
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Re: where's the HSBC thread?
Originally Posted by MidAtlantic
(Post 12181593)
OK here is the answer to your precise question: simple.
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Re: where's the HSBC thread?
Originally Posted by Mark callaway
(Post 12181761)
Yes but he could deposit it in deposit cheque machine also
I have thought about it some more since I posted earlier, and I think that whatever sort of copy comes back to the payer's bank, the payee's account info will be on the back. |
Re: where's the HSBC thread?
Originally Posted by Pulaski
(Post 12181769)
..... Which likely will print the credited account information on the back of the cheque.
I have thought about it some more since I posted earlier, and I think that whatever sort of copy comes back to the payer's bank, the payee's account info will be on the back. |
Re: where's the HSBC thread?
Originally Posted by Mark callaway
(Post 12181792)
According to my system it doesn't show as I work as contact center maybe in the branch they have other systems, I don't know, but if that is so simple I don't think mission would think it is difficult
The first time I remember tracing a paid cheque it was for my employer, and was actually fairly easy as the stamps and printed accounts and codes on the back of the check fairly clearly showed that it had been cleared by NatWest and paid into an account at Halifax. I ended up arguing with Halifax and it turned out that they did have the money, but the account has caused them some concerns and the branch had transferred it to the Halifax "forensic unit". They told me that my employer needed a court order to get the money back. :blink: I wrote a letter to Halifax in my best cod-legalese, that we (my employer) knew who the funds belonged to, and was in correspondence with them, whereas they (Halifax) had admitted they didn't know who the funds belonged to and they (Halifax) believed that the cheque had been deposited fraudulently (which was why the account had been transferred to the forensic unit), and I asked that they return the funds without delay. The reply a few days later came with a cheque. :thumbsup: |
Re: where's the HSBC thread?
Originally Posted by Pulaski
(Post 12181808)
How many people examine their payed checks? I suspect that very few people did, until banks started storing them electronically.
The first time I remember tracing a paid cheque it was for my employer, and was actually fairly easy as the stamps and printed accounts and codes on the back of the check fairly clearly showed that it had been cleared by NatWest and paid into an account at Halifax. I ended up arguing with Halifax and it turned out that they did have the money, but the account has caused them some concerns and the branch had transferred it to the Halifax "forensic unit". They told me that my employer needed a court order to get the money back. :blink: I wrote a letter to Halifax in my best cod-legalese, that we (my employer) knew who the funds belonged to, and was in correspondence with them, whereas they (Halifax) had admitted they didn't know who the funds belonged to and they (Halifax) believed that the cheque had been deposited fraudulently (which was why the account had been transferred to the forensic unit), and I asked that they return the funds without delay. The reply a few days later came with a cheque. :thumbsup: |
Re: where's the HSBC thread?
Originally Posted by Mark callaway
(Post 12181817)
That is awesome, that they gave you the information without any court orders
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Re: where's the HSBC thread?
Originally Posted by Pulaski
(Post 12181820)
Not just "information", they sent us back about £3,400. :)
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Re: where's the HSBC thread?
Originally Posted by Mark callaway
(Post 12181760)
You are asking a question that how the bank will trace the cheque to know if it is deposited or cashed in any other bank or not?
Ok, as you people say the question doesn't make sense (with all respect to you personally), why? because it is not the duty of the bank, it is your duty, you wrote a legal paper and the other person denied receiving it, who's fault is that? it is your fault, what if the beneficiary traveled with the cheque and deposited in ATM deposit machine in Cambodia or Iceland? how the bank will trace it?, that is why the best option to transfer money between accounts from the branch or online banking or you yourself go with the cheque and deposit it where you know where and when and to which bank you deposited it, same idea like you gave cash to a person and no witness and he denied, it is your fault, so if you own a company and you wrote a cheque to John Goblins or whatever and they denied receiving a cheque just ignore his claim and don't write another cheque, if he sued you then maybe the central bank would order all banks to search for that cheque with the serial number in all banks in the country or maybe all over the world I don't know but from the bank side it is not their business. |
Re: where's the HSBC thread?
Originally Posted by Pulaski
(Post 12181522)
The paid cheque should be printed, on the back, with the details of the account it was paid into. With electronic processing it might not actually be on the back, but when "your" bank receives the cheque to be paid, it will come with details of which account it was paid into.
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Re: where's the HSBC thread?
Originally Posted by mission
(Post 12183732)
yep I get that - how long does it take the bank to retrieve the actual cheque from wherever all cleared cheques are kept - is it easy or is it a long process for them to get hold of the actual cheque - that's my question.
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Re: where's the HSBC thread?
Originally Posted by mission
(Post 12183728)
this makes NO sense whatsoever and you work in banking?:eek::eek:
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Re: where's the HSBC thread?
Originally Posted by Mark callaway
(Post 12181760)
You are asking a question that how the bank will trace the cheque to know if it is deposited or cashed in any other bank or not?
Ok, as you people say the question doesn't make sense (with all respect to you personally), why? because it is not the duty of the bank, it is your duty, you wrote a legal paper and the other person denied receiving it, who's fault is that? it is your fault, what if the beneficiary traveled with the cheque and deposited in ATM deposit machine in Cambodia or Iceland? how the bank will trace it?, ..... This is also true of a bank draft/cashier's cheque, or even a traveller's cheque, but obviously it comes back to the bank's own account for the funds to be debited, not a customer account. The only thing you can deposit that doesn't come full circle, back to a bank, is cold hard cash - that is good for face value, assuming it isn't counterfeit. When the cheque, or the electronic copy, comes back to the bank the cheque is drawn on it includes the information about the account it was deposited into, and the branch/location where the cheque was deposited. Exactly how easy it is to understood/ decode the information is a slightly different question, but IMO the account number is usually fairly obvious. |
Re: where's the HSBC thread?
Originally Posted by mission
(Post 12183728)
this makes NO sense whatsoever and you work in banking?:eek::eek:
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Re: where's the HSBC thread?
That is right Miss Ann :)
Mr Pulaski, thanks for the information, you seem that you are dealing with the banks for a long time, but I am happy that at least I added any useful information even if it is tiny :D Regards |
Re: where's the HSBC thread?
Why on earth do posters assume that the UAE banking system is the same as in the US? How banks work in the US is irrelevant to this query.
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