For something this simple, isn't it easier to simply take a look at what other countries are doing? What's the point re-inventing the wheel.
Anyways, it is true because recently when i applied for a credit card, my bank asked me to give a cheque as security. And they asked me to write the current date on it and then sign over the date so that later if it needs to be used, they can cancel the date, write a new one and my sign is already there next to it. They told me that the central bank regulations does not allow them to take a post dated or w/o date cheque. Gee.... talk about stupid regulation; what's the use if there is such a simple way out.
For something this simple, isn't it easier to simply take a look at what other countries are doing? What's the point re-inventing the wheel.
Anyways, it is true because recently when i applied for a credit card, my bank asked me to give a cheque as security. And they asked me to write the current date on it and then sign over the date so that later if it needs to be used, they can cancel the date, write a new one and my sign is already there next to it. They told me that the central bank regulations does not allow them to take a post dated or w/o date cheque. Gee.... talk about stupid regulation; what's the use if there is such a simple way out.