Cheques have been an institution in the world of commerce for centuries. Originally developed as a way to pay merchants and creditors without the need to carry large amounts of paper money,they appeared as early as 321 BC in India where adesha were used to order bankers to pay a specified amount the a third party and in first century BC Rome where praescriptiones were used for the same purpose. Today’s cheques are primarily used in business to business commerce and have features that find their roots in 1811’s Commercial Bank of Scotland whose first personalized cheques featured the account holder’s name printed vertically on the left edge of the cheque.
Personalized cheques are extremely popular for both business and personal chequing accounts and are provided by a variety of banks and cheque printers. Surprisingly, however, as many as nine out of ten Canadian business owners don’t realize that they can choose the company through which they order cheques. Though many businesses offer chequing, other companies like Davis Henderson Cheque and Cheque Print offer laser cheques that are customized with logos and that are compatible with all payment software.
One of the most important offerings of companies like Davis Henderson Cheques is security. In 2010 alone, 3,277 mailbox thefts were reported to Canada post. In such heists, cheques are the number one target. As such, security features are incredibly important. Such features can be built into the cheque paper itself in the form of watermarks or can exist as part of program membership. Davis Henderson Cheque, for example, offers membership to a program that helps business owners to avoid trouble with cheque fraud.
Davis Henderson Cheque offers the following safety tips for those looking for protection against cheque fraud. When receiving cheques for payment,
- Compare the signature on the cheque with that on another piece of identification.
- Make sure that the cheque has not been modified in any way.
- Ask for photo identification or some other form of definite ID.
If you suspect that one of your cheques has been used fraudulently, immediately notify your financial institution and maintain a log of all contact with authorities.
The programs and cheques offered by private companies like Davis Henderson Cheque are often comparable, if not better than those offered by banks. It is worth considering the move to a private cheque provider, if only for the added security.