Even though electronic payments are becoming more and more popular, cheques are still a common form of payment in Canadian businesses. Counterfeiting is an unfortunate reality of business, and you should train your employees to recognize fake cheques to avoid losses.
First, employees should be trained to understand the basic information found on all cheques. The series of numbers at the bottom include the institution code, branch transit number, and account number, and are always presented in a similar way. Also, almost all cheques have safety features incorporated in them. On the back of the cheque, the features are described.
The best training you can give employees is that, when in doubt, ask questions and if the answers are unsatisfying, ask for another form of payment.
