Money Grouse: What's in a name? In some cases a banking headache

THE SIMPLE act of paying in a cheque can become a headache because of new rules meant to protect against fraud.

Jane Talbot is self-employed and lives at Isleworth, west London. She has been a Nationwide account holder for at least six years. The account is in her full name, Elizabeth Jane Talbot.

She says: 'I am known as Jane Talbot and receive a lot of cheques made out in that name. The society will not accept them.'

She asked if she could open a new account in the name of Jane Talbot. The Nationwide said she could only do so if she had official documents showing that name.

'Fortunately, my bank, Lloyds, will still take cheques made out to Jane Talbot,' she says. 'But to maximise the interest on my money I need it in my building society account, so I have to do a lot of shuffling about.'

The Nationwide said that new rules had come in last year because of the Cheques Act. A spokesman said: 'Under the Act the receiver of the cheque, the bank or building society has responsibility to ensure that we accept cheques from the right account holder.'

He added that the new law meant that if the building society made a mistake about identity it would be held responsible.

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