Changes have been made to Standard Bank's ATM-issued cheques as part of the bank's commitment to reducing cheque fraud.
The tamper-proof cheques, which will be available shortly from more than 400 AutoPlus machines nationally, are now printed on watermark paper. If they are held up to the light, a dark and light watermark appears on the reverse side.
The cheques have a shiny silver hologram, which cannot readily be copied on a scanner or a colour photostat machine. If the cheque is placed under ultra-violet light, the bank's logo appears on the reverse side of the cheque. Attempts to use water or chemicals on the cheques will result in a large mark.
No alterations are permitted on AutoPlus cheques and the cheque amount may not exceed R5 000. The amount is repeated three times to prevent fraudsters from "laundering" the cheque. The cheque is certified good for 14 days (previously 30 days) for an amount up to R5 000 from its date of issue. You have to produce your identity book when presenting the cheque.
Your identity number is recorded by the cheque recipient in the space provided on the cheque. These steps, the Standard Bank says, will help in reducing fraud and therefore the losses experienced when businesses accept AutoPlus cheques.