Cheques & Bills

Instrument → how it works and risks

Written order to a bank to pay the bearer. Rare in Ukraine, fading abroad.

How it works

  • •Personal — to a name, bearer — anyone
  • •Banker's cheque — safer than personal
  • •Collection: bank gathers funds, ~2–8 weeks
  • •Collection fee can eat a small cheque

Risks

  • ⚠Fake cheques — classic classifieds scam
  • ⚠Bounced cheque = funds pulled back from your account
  • ⚠Presentation period limited (usually 6 months)

These instruments suit specific scenarios (legacy debts, international deals, certain banks). For everyday payments — transfer/card is faster and safer.