As South African banks prepare to do away with cheques from the end of the year, Mercantile Bank has already stopped issuing cheques.
Companies and individuals are warned not to accept Mercantile Bank cheques with immediate effect, as they will no longer be honoured.
Standard Bank has issued this statement to its customers: “”Please note that Standard Bank will no longer be able to accept or process Mercantile Bank cheques with immediate effect.
“In the interests of protecting yourself against potential fraud, we urge you not to accept Mercantile Bank cheques in future as they will be returned unpaid. This includes cheques deposited at our ATMs, Cash Centres or branch cheque deposit boxes.”