The Knowledge behind Bearer and Order Cheque
Until I fell victim to this practice, I had always boasted that this will never happen to me. I went to a bank to cash a cheque. The cheque was a bearer cheque drawn payable to cash or bearer, signed by the drawer and endorsed in blank by the same drawer. The teller asked me to write my name at the back which I reluctantly did. Then he asked me to provide an I D card. I was not having the card with me and that was when the problem begun. "Without he ID card, I cannot pay you", said the teller. I protested and drew his attention to the fact that the cheque was just a bearer cheque and that the endorsement at the back by the drawer is enough for me to cash it, and that there was no need for any identification from any person. The customer was called for confirmation, which he did. The teller still insisted that I provide the ID card or else she would refuse to pay me. In an angry mood, I left the bank and threatened that "we shall test this issue at the courts of law...