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• The physical characteristics of cheques are subject to technical specifications which must be adhered to if businesses decide to print their own cheques. A specimen of a customer printed cheque must be tested for automation and approved for use by your bank
• Cheques not conforming to technical specifications may result in them being ineligible for automated clearing and they may be refused at the point of lodgement
• Cheques are generally subject to higher levels of fraud than electronic payments and precautions should be taken to prevent alteration.
  
• For added security and good internal auditing practice, cheques can be countersigned by one or more authorised signatories
• Lost or stolen cheques can be ‘stopped’ provided they have not already been paid – contact your bank directly to arrange this
• Cheques are liable to Government stamp duty of 50c per cheque
• Cheques lodged to an account in the same bank on which they are drawn do not go through the inter-bank clearing process. As a result, the accounts on which they are drawn may be debited on the same day the cheques are lodged. On the other hand, cheques are valid for up to six months from their issue date, so it may be some time before a cheque is debited.

For further information on cheques please click on the menu to the left.