I know it sounds unreal but picture this...a city resident recently received a response for his 'for sale' poster on his car.

So they met up with the prospective, ironed out everything(logbook,mileage,blah!blah!) and agreed to sell the car for 400k.They even went to the lawyers and made a sale agreement.

So the buyer came with a bankers cheque of 600k from a bank which im not at liberty disclosing.Just to make sure nothing was amiss the seller went with the bankers cheque to the bank in Q,and he was assured that it was valid.So the seller came with the cheque to the lawyers and the transaction was executed.

After the transaction,the buyer requested the buyer to refund him the extra 200k a once he had cashed his cheque since the 600k was apparently written by 'mistake'.The now trusting seller saw no need of keeping in wait a good citizen of the nation,so he rushed downstairs,withdrew the 200k and gave it to its 'rightfull' owner.

The seller was met with shock when he was told that no deposit transaction of that nature took place.The id of the buyer was a fake,he just found a lost id and placed his scanned photo on it.200k and probably some car parts if not the whole car were lost just like that.

So apparently there are some bank officers who collude with fraudsters to pluck leafs from the
bankers cheque book and dupe the unsuspecting public.

Same old Nairobi stories......

2012, i didnt mention of any legal action,it just a prudence measure,coz it could happen to any bank.I also meant to say it was an original bankers cheque,you dont have to go to a particular cashier.

@McReggae,they are usually the same old stories until you are cornered,then they stop being your old stories but reality

@Njunge, i also thought the same, but ive seen many people carrying out transactions with banker's cheque anyway.

Was just wondering...if the bank in question didn't alert the public regarding the stolen cheque leaf...can it be sued for rejecting its own original faked cheque??Or at least couldn't the bank display on a notice board within the bank hall cheque leafs which have been lost/stolen?

After being conned sh125k through a fake bankers cheque in 2005, my bank manager advised me never to accept these cheques. He said that over 75% of all cheque fraud in Kenya involves bankers' cheques. This is the reason banks stopped paying them on demand - they have to go through the normal 4-day clearing process.

From that time, I usually ask for ordinary cheques and when I'm in doubt, I wait for it to clear before delivering goods. Alternatively, I ask for RTGS (instantaneous) or EFT (next business day).

I normally don't accept large amounts in cash - above 20k