Can an ANZ Bank cheque be cancelled? (Australia)?

Question

I am selling my car and the purchasers wish to pay by bank cheque - can the cheque be cancelled and does it take time to clear? This is a question in Australia - Thx

Answer 1

Yes any cheque can be cancelled for any reason.

Best to ask the buyer to pay buy cash or direct deposit into your account.

a wee story .... A mate has an aviation business, fixed a plane for a guy from outta town, (was up in the $50,000 mark)  the customer paid by bank cheque and he cancelled it as soon as he flew off.. therefore my mate out of pocket.  He though he was safe receiving a bank cheque. . now he's out of pocket big time.

Answer 2

There are a number of scams around where people pay by bank cheque and then cancel the cheque. There have also been several fairly recent reports of forged and stolen bank cheques, so don't take a chance. You should insist on cash or direct deposit and if DD, make sure the money is there before you hand over the car.

Answer 3

I'd rather do an electronic transfer myself, just to be safe.

Answer 4

contact your bank and ask them, also call the anz bank to confirm that the bank cheque is not stolen, they also can advise about terms and conditions of their bank cheques