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bouncing a cheque in Cyprus.
Posted: Sat Jul 11, 2020 5:19 pm
by Chaddy
If you bounce a cheque in the US it is a crime and it is a police matter.
If you bounce a cheque in the UK it is a civil matter.
If you bounce a cheque in Cyprus it is a ............over to you
Re: bouncing a cheque in Cyprus.
Posted: Sat Jul 11, 2020 6:03 pm
by WHL
It used to be a police matter, you could take it to the police and they would go after your man that changed many years ago, thou, now you have to deal with it yourself.
Re: bouncing a cheque in Cyprus.
Posted: Sat Jul 11, 2020 7:31 pm
by Devil
Probably, the correct answer is, in your dotted line, "case of hard luck".
Re: bouncing a cheque in Cyprus.
Posted: Sat Jul 11, 2020 7:56 pm
by 71 Trans Am
Does anyone still use cheques in this day and age ? Even iphone banking allow's you to delay funds clearance for Three Five Or Seven days now or instant payment
Can barely remember what a cheque book looks like
Re: bouncing a cheque in Cyprus.
Posted: Sat Jul 11, 2020 9:23 pm
by emgee
Phillipos used to put all his bounced cheques on his till for all to see.
Alan
Re: bouncing a cheque in Cyprus.
Posted: Sun Jul 12, 2020 11:17 am
by Paul
Re: bouncing a cheque in Cyprus.
Posted: Sun Jul 12, 2020 11:38 am
by Devil
Paul & Lesley wrote: ↑Sun Jul 12, 2020 11:17 am
You may wish read this as to the law in Cyprus.
I am a little puzzled in that the good quotation you have offered seems to include English (or Scottish) law, mixed in with the Cypriot?
Re: bouncing a cheque in Cyprus.
Posted: Sun Jul 12, 2020 12:34 pm
by Chaddy
Only a slight change of the main topic.But am i right in saying that Cyprus is the only country that it takes 3/4 working days for a....BANKERS DRAFT to clear.
....Please dont disagree, i deposited one on Friday and the bank told me i could not draw funds against this until next Thursday at the earliest
Re: bouncing a cheque in Cyprus.
Posted: Sun Jul 12, 2020 3:21 pm
by Dominic
71 Trans Am wrote: ↑Sat Jul 11, 2020 7:56 pm
Does anyone still use cheques in this day and age ? Even iphone banking allow's you to delay funds clearance for Three Five Or Seven days now or instant payment
Can barely remember what a cheque book looks like
Lots of Cypriot businesses still use cheques.
Re: bouncing a cheque in Cyprus.
Posted: Sun Jul 12, 2020 6:16 pm
by Paul
Devil
Allot of Cyprus laws are based on UK law, remember this was a UK colony up till 1964.
I should know this as I have been dealing with the police as a witness in a case for the prosecution.
Criminal code CAP154 is the main one.
Paul
Re: bouncing a cheque in Cyprus.
Posted: Sun Jul 12, 2020 6:38 pm
by Devil
Not 1964, 1960, but much of the law was also derived from the Ottoman period so you must never transpose English to Cyprus law: you may get some surprises.
Also, some English law was changed since 1960 to pure Cypriot law.
Re: bouncing a cheque in Cyprus.
Posted: Sun Jul 12, 2020 11:36 pm
by WHL
I am in business and we give suppliers cheques when they deliver goods.
Re: bouncing a cheque in Cyprus.
Posted: Mon Jul 13, 2020 8:44 am
by Chaddy
Tanny wrote: ↑Mon Jul 13, 2020 6:33 am
Yes drafts here can take 3-4 days to clear, even within the same bank and branch. On occasions it has taken even longer (mystery) which is a frustration for many and one of the reasons we are happy to arrange inter client transfers overseas.
Its simply the system and we accept Cyprus for its positive points as well as its flaws.
All these parts of the system that you and your friends seem to be encountering would ordinarily be explained to a client at a stage prior to purchase.
Tanny,thanks for you interest but....."inter client transfers overseas "????