How can we tell if a cheque will bounce or not?
Gooya Dubai Editorial Team 2 min read 1737 views
Are you worried that the cheques you have received might bounce? In Dubai, using the online service "Chequescore", you can evaluate the likelihood of a cheque bouncing. This online service allows you to check the risk of the cheques received and ensure their validity.
The Chequescore service indicates the likelihood of cheques bouncing within the next nine months. If a cheque has been offered to you and you are unsure if it is collectible, you can use this service provided by "Al Etihad Credit Bureau AECB". To do this, simply scan the cheque or manually enter its details to see the likelihood of it bouncing.
Steps to use the Chequescore service
To use this service, you need to follow these steps:
1. Visit the official website of "Al Etihad Credit Bureau" at etihadbureau.ae.
2. In the Products section, select Chequescore and click on Get a chequescore now.
3. You will be asked to register for the service. For this, enter your mobile number and email address, and set a password.
4. After registering and entering a one-time password, you will be directed to the service dashboard.
5. Select the Get a cheque score option.
6. Enter your cheque details, including the bank name, issuer and payee names, the amount stated on the cheque, and other details.
7. After entering the information, click on Get a cheque score.
8. To receive the Chequescore report, a fee of 10.50 AED (plus VAT) must be paid.
9. After payment, you can receive the relevant report.
What information does the Chequescore report include?
The Chequescore report helps you better understand whether the cheque is likely to bounce or not. This report includes the following:
- A summary of the cheque details
- Likelihood of the cheque bouncing: This indicator is shown in three colors:
- Green: Low likelihood of bouncing
- Yellow: Medium likelihood of bouncing
- Red: High likelihood of bouncing
- Information about the cheque issuer: Includes the percentage of cheques that have bounced in the past 24 months and whether there are any legal cases related to financial issues reported against the client in Dubai or Ras Al Khaimah courts.
Cost of using the Chequescore service
To use this service, a fee of 10.50 AED (plus VAT) is charged for each cheque.
