Question

Which would NOT help protect against counterfeiting?

Group of answer choices

keeping your account number private

destroying old account statements

making checks payable to "Cash"

shredding cancelled checks

Answer 1

making checks payable to "Cash"

Step-by-step explanation:

A check payable to "cash" has no payee name written at the space provided for it. Instead, the word "cash" is written as the payee. It means any person in possession of the check can easily cash it. A person makes a check payable to 'cash' when the payee is unknown or when they want to address the check to themselves.

Making a check payable to cash is preparing a check to pay oneself. It is safer to walk in the bank and withdraw from the teller or use a debit card or ATM card to withdraw. A check payable is an unnecessary check document that exposes one's personal account details. Should the check land in the wrong hands, the third party may cash it or capture the personal details with the intent of using them fraudulently.