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Withdrawal of cheque guarantee facility

Frequently Asked Questions (FAQs)

What is a cheque guarantee card and when would I use it?

A cheque guarantee card is a debit card with a cheque guarantee logo, which guarantees the payment of cheques up to the value indicated on the card (£250) in a single transaction, for the purchases of goods or services.

How do I know I have a cheque guarantee card?

All Fairbairn Private Bank sterling gold status Visa cards are cheque guarantee cards. But you can identify if your card is a cheque guarantee card by looking for the cheque guarantee logo on the reverse right hand side of your gold status Visa card. If this logo is not present you do not have a cheque guarantee card.

Why has the decision been made to close the cheque guarantee scheme from 30 June 2011?

The decision was made, by the UK Payments Council, due to the falling usage of the cheque guarantee scheme over the last five years.

Will my card be replaced?

Although we will be replacing the cards in due course, we will not be issuing cards without the cheque guarantee logo in advance of the June 2011 scheme withdrawal. When your current gold status Visa card expires, you will receive a new card without the cheque guarantee logo.

What if my card hasn't been replaced before the scheme closes on 30 June 2011?

Cards that contain the cheque guarantee logo can still be used to guarantee cheques until 30 June 2011. However, after 30 June 2011, you will not be able to use your card to guarantee cheques, even if the card carries the cheque guarantee logo.

Are other banks removing the cheque guarantee facility from their cards?

Yes, all UK banks will be removing the cheque guarantee facility from cards.

Can I still write cheques?

You can continue to use cheques as a payment method after the removal of the cheque guarantee facility. However, after 30 June 2011, you will no longer be able to guarantee them, even by using your gold status Visa card. This means we will only process payments when there are sufficient funds in your account.