Archive for News

Basic Income In Canada

Poverty is a problem all over the world, including in Canada. It isn’t a problem with an easy solution but the problem can’t be ignored. The basic income concept is designed to help reduce the number of families living in poverty. While some feel it can work well and others don’t think it will change much, the only way to really know is to get something in motion to find out!

What is the Goal of the Program?

The goal of the basic income program is to offer households living in poverty additional funds by cheque on a monthly basis. Unlike other programs, there won’t be any strings attached or hoops to jump through in order to get the household qualified for the program. With more money, such households will have the means to pay for basic necessities and living expenses.

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BMO Now Offering Interac’s e-Transfer Service to Business Accounts

For several years now, many banks have been providing personal and business account users with the ability to transfer funds to each other through Interac’s e-Transfer service; which is a money sending service that works like a computer cheque and allows users to send money to anyone with an email address or mobile number and a Canadian bank account. However, BMO has previously only offered this service to their personal account users and is only now beginning to follow suit with other banks and offering business accounts the chance to take advantage of electronic based service.

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CIBC set to launch eDeposit for cash

Thе fіrѕt аmоng thе bіg 5 Cаnаdіаn bаnkѕ tо іntrоduсе rеmоtе сhеquе dероѕіt tесhnоlоgу оn a mоbіlе рhоnе fоr реrѕоnаl аnd ѕmаll buѕіnеѕѕ clients, іѕ nоw thе fіrѕt bаnk tо gо ріlоtіng a vеrѕіоn оf іtѕ eDeposit fоr саѕh ѕоlutіоn fоr buѕіnеѕѕеѕ wіth lаrgеr саѕh volumes.

Cuѕtоmеrѕ whо fіnd thе рrосеѕѕ оf dероѕіtіng саѕh аt thе bаnk tоо іmрrасtісаl оr јuѕt tоо ѕlоw аrе gеttіng a hеlріng hаnd frоm thеіr banks. In аn еffоrt tо mаkе trаnѕасtіоnѕ mоrе convenient, ассеѕѕіblе аnd faster, Canadian Imреrіаl Bаnk оf Cоmmеrсе hаѕ еmbаrkеd оn ріlоtіng a nеw fеаturе whісh іѕ ѕаіd tо аllоw buѕіnеѕѕ оwnеr tо dероѕіt саѕh whіlе thеу аrе ѕtіll аt thеіr рrоѕресtіvе ѕtоrеѕ оr оffісеѕ CIBC’s lаtеѕt eDeposit fоr саѕh іnnоvаtіоn аllоwѕ саѕh ѕсаnnеd аnd соuntеd bу аn аutоmаtеd bіll rеаdеr the cash is then deposited into the Client safe Account thus giving them access to the funds before the cash is actually taken to CIBC this whole process is carried out with the aid of brink’s Computer safe

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TD Canada Trust Mobile Apps Now Allowing Cheque Deposits

Although late in the game TD Canada trust has finally updated their mobile apps to allow cheque deposits, their rivals as Tangerine and more recently CIBC have been offering this great feature for quite a while.

To take advantage of this feature be sure to update the TD app in your mobile app store, once updated this feature will show in the app, simply use the camera of your gadget and you will be able to deposit cheques, by the concrete snap of your document. This is a proof worthy enough for the Canadian bank to submit the further steps required in a mobile banking transaction. All in all, you don’t have to use an ATM or bank’s online services, to have your transaction performed, a couple of front and back pictures will help you save time. The update app is quite useful for businesses needing to sign multiple customer cheques, but also as individual user you can always enjoy the benefits of a comfortable mobile banking.

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The Combination of Comfort and On-The-Go Access Is Triumphing in the Market

#1-bankAt Cheques Plus we are always covering what’s happening in the financial world and today we will discuss about mobile solutions applied to finances:

We live in a digital Era where internet is making our lives more comfortable while speeding up certain processes. If you have been interested in the latest updates on the digital market, you can see that it’s clear that mobile solutions are managing to make room in this competitive world.

By looking at smartphones sales, tablets and so forth, we can clearly notice that more and more people are choosing those mobile solutions to perform different activities that in the past required a computer. The days when you needed to turn on your computer to check your email inbox, buy a product or communicate are gone. Now you have mobile solutions you can use combining comfort and commodity.

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Why Buy From Cheques Plus

Why Buy From Us

There are many companies that allow you to reorder your cheques online and will deliver your purchase to your door, but no other online retailer or financial institution offers all of the benefits and services that you’ll receive from Cheques Plus.

We are the absolute best source for your cheque order because:

We have the best prices
At Cheques Plus, we offer very competitive pricing on both personal and business cheques. We keep up to date on our competitors’ prices, so that we can meet or beat them with all of the styles that we carry. When you choose to buy from us, you can be confident that you’re getting the absolute best price on whatever type of cheques you choose.

 

We offer free shipping
If you’re a customer in Ontario or Quebec, you can benefit from free shipping when you choose Cheques Plus. We offer free shipping on on most products and orders over $50, and our rates for shipping to the other provinces are as affordable as possible.

We ship quickly
When you need to reorder cheques, you often can’t afford to wait days for your order to arrive. That’s why Cheques Plus ships orders the same day whenever possible. We always select the fastest shipping methods available, so that you can have your cheques the very next day.

We don’t have hidden fees
For special order customizations, we do not assess any hidden or additional fees. We never charge setup fees for these services, meaning there are never any nasty surprises when it comes time to pay for your order.

We are a one-stop shop
At Cheques Plus, we simplify shopping by offering all of the supplies that you need for check-writing and making deposits. We have a complete selection of cheques, deposit slips, envelopes and stamps all available for competitive prices every day.

We are a trusted Canadian company
When you order cheques, you are entrusting a company with your sensitive financial information, such as your account number, so you want to be sure that you are dealing with a trustworthy organisation. Cheques Plus is a Canadian company based in Quebec. We have an excellent reputation in the industry and will ensure that your personal information is protected.

If you’re looking for a hassle-free cheque reordering experience, Cheques Plus is the absolute best choice. Find the perfect cheques for your needs by shopping our website today.

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No More Door-To-Door Delivery?

No More Door-To-Door Delivery?

Canada Post has recently announced that it will be making changes to its delivery service.  The planned changes will include the phasing out of door to door delivery as well as the introduction of community mail boxes.  There will also be an increase in postage stamps from 63 cents to $1.  However, to make postal services more accessible for customers, Canada Post plans to open up more outlet offices.

The primary reason driving this change is the fact that there has been a rapid decline in the use of postal services. Since 2006, approximately one billion fewer pieces of mail have been delivered by Canada Post as people are now choosing to use email and online payment services instead of regular post.  This has resulted in a decline in Canada Post’s revenues thus forcing it to change its strategy. It is being forecasted that Canada Post will lose nearly $1 billion by 2020.  In light of such dire projections, Canada Post has decided to alter its mode of operation.

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Easy banking on iPhone with updated CIBC app

If you are willing to use your iPhone for fast and secure transactions, CIBC has just released an essential update to its classical app for Apple’s products. Mobile banking has never been easier, once you will try it, you will be delighted.

You will simply use the camera of your gadget and you will be able to deposit cheques, by the concrete snap of your document. This is a proof worthy enough for the Canadian bank to submit the further steps required in a mobile banking transaction. All in all, you don’t have to use an ATM or bank’s online services, to have your transaction performed, a couple of front and back pictures will help you save time. The update app is quite useful for businesses needing to sign multiple customer cheques, but also as individual user you can always enjoy the benefits of a comfortable mobile banking.

According to the bank’s representatives, this update will save the time of 11 million customers, an impressive number, if no technical trouble appears during the process. An interesting detail about this spectacular change is that the CIBC admitted that customers feverishly required the new method of payment, so the bank was just fulfilling their wish. You can do the same magic with your Android gadget too, the only exception established for the moment by the bank is that the service is available only for Canadian dollar cheques via eDeposit. Unfortunately, CIBC hasn’t mentioned when its BlackBerry and android app will receive the same update.

According to a financial report issued last year, it seems that other six major banks prepare their infrastructure in order to introduce a similar feature, so mobile banking will soon face a revolution. For the moment, ING Direct offers a similar app.

CIBC stated that the update is safe and secure, since none of your sensitive information regarding your money is effectively store on your gadget, which is transmitted wireless, but don’t neglect an extra-protection thanks to antivirus software.

Update (Dec. 12 2013):
CIBC announced that they are expanding innovative eDeposit service for business clients too by providing them with a desktop cheque scanner. Head over here for the full details.

 

How to Avoid Becoming a Victim of Cheque Fraud – Part 2

Despite the widespread use of other payment methods, cheques still remain in use.  According to Statistics by the Canadian Bankers Association, Canadian financial institutions still process approximately one billion cheques every year.

Cheque fraud can occur in two different ways. They can either be stolen or fraudsters can make changes to them.  You need to not only protect your cheques from being misused but also from being given one of these fraudulent cheques.

Financial institutions have their own measures to detect if a cheque is fraudulent or not.  However, the common man may not have access to the tools that they have.  However, there are still certain ways in which you can detect whether you have been given a fraudulent cheque.

Most Canadian banks have certain security features built into their cheques such as watermarks or specific designs. These are generally printed on the back of the cheque. If the cheque you’ve been given is not original and has been scanned or photocopied, these intricate designs or watermarks will not be there.  This is one way that you could identify that the cheque is forged.

If you’ve been given a money order or a bank draft and you have certain doubts about their originality, it is always a good idea to call the bank that has issued the cheque to make sure it is genuine and the funds will be released once you deposit it. In addition, there are some basic precautions that should always be taken when writing or receiving cheques.  Always ensure they are properly dated and fully completed; if you see even minor signs of any alteration, do not accept such cheques; avoid accepting post-dated cheques; if a cheque was originally made out to someone else an then signed over to you, do not accept it; do not accept counter cheques.

Be wary of Cashier’s Cheque Fraud.  A large number of people assume that a cashier’s cheque is as good as cash.  That is not always the case.  Sometimes buyers make out a cashier’s cheque in excess of the purchase price of the product.  The buyer then asks the seller to pay him back the extra money.  This is an example of a cheque overpayment scam.  These could be done either through a lottery, auction or secret shopping offers.  You might end up realizing that the overpaid cheque that you deposit is a fake and although the funds may be registered immediately, once the cheque is actually processed, your bank will determine that it is fake.   You will then have to bear the penalty as well as the loss of any funds that you may have wired to the buyer for the amount that he had initially overpaid.

Overall, simple yet effective precautionary measures can help you minimize the chances of becoming a victim of cheque fraud.

 

How to Prevent Cheque Fraud – Part 1

Cheque fraud is one of the biggest challenges that are faced by financial institutions.  It is among the fastest growing crimes in the financial world.  It is being forecasted that cheque fraud will continue to grow by approximately 25% annually and will cause businesses in North America to lose more than $20 billion annually. The most common types of cheque fraud include counterfeiting, forgery and alteration of cheques.

With the constant advancement in technology, criminals have devised new ways to deceive their victims. These include counterfeiting of cheques as well as chemical alteration.  Cheques are often duplicated through the use of computer software and high-grade laser printers as well as sophisticated photocopiers.  Criminals also use chemicals such as bleach, brake fluid or acetone to modify cheques. Another form of cheque fraud is through paperhanging.  This is done by writing cheques on closed accounts or by reordering cheques on these closed accounts. Cheque Kiting refers to the fraudulent act of opening two or more accounts and misusing the float time to create balances that don’t actually exist.  This is also referred to as cheque washing.

The most common victims of cheque fraud are financial institutions and consumers.  There are several ways criminals can get access to your cheques. They can either steal it from your home or your car; they can pick up a canceled cheque or an old cheque that you may have discarded; or they can remove a cheque that you may have mailed to pay a bill.

While criminals use technology for cheque fraud, the same technology can be used to prevent this fraud. For example, the use of Magnetic Ink Character Recognition (MICR) ensures that the sorter is unable to read a cheque that is counterfeit.  Encryption is another technology that can help prevent cheque fraud.  Cheques are printed with a code that is not visible to the naked eye but can be used to verify the validity of a cheque when it’s scanned or copied.  The use of pantographs is also a useful strategy to prevent fraud.

Consumers can protect themselves from cheque fraud by taking certain precautionary measures.  Cheques should always be kept in a secure location.  Cheque books should not be left in cars or briefcases. Any unused cheques from closed accounts should be destroyed immediately.  If cheques are to be reordered, they should be ordered in a continuous set of serial numbers.  One set of cheques should be ordered per account.  If for some reason there is a transaction on your account that you are not aware of, it is best to report it immediately.

It is also a good idea to endorse your cheques by your financial institution.  Do not give your account number to anyone, unless and until you know for sure why the information is being requested and by whom.  It is also advisable to reconcile your bank statements on a regular basis.  When writing crossed cheques, mark them as not transferable.  If there is a risk of fraud in certain situations, use cash, card or online banking.  Avoid using cash cheques.  Never ever sign blank cheques.  Avoid posting cheques.

Consumers should opt for cheques that offer security features.  Today, many companies offer cheques that employ security features to prevent cheque fraud.  These companies use tightly controlled cheque printing procedures.  The use of magnetic toners has also prevented criminals from printing cheques at home since this method is more expensive and difficult.  Financial institutions also ensure that no unauthorized cheques are cleared unless and until the bank has been notified.

ChequesPlus.com provides its customers with cheques that feature multiple security features in order to minimize the risk of fraud and misuse.  They provide cheques for both Canadian and US accounts and all cheques provided by Cheques Plus include security features such as Microprint and pantographs to prevent fraud.

There is no doubt that dealing with cheque fraud is a challenge for both consumers and financial institutions. However, employing certain precautionary measures and using cheques that have built-in security measures can help minimize the risk of such fraud.  The second part of this article will talk about how you can prevent receiving fraudulent cheques and the measures that you can use to ensure you do not become a victim of such fraudulent activities.