Some things don't change
September 9th 2010 11:54
AP Herbert
Many banking regulations have been tightened and changed in the past year as a result of the global economic crisis, but one British banking rule hasn't changed, and won't unless someone is prepared to countermand a popular mandate which has as much to do with wit and good humour as fiscal freedom.
In Britain, all banks are required to accept any legible cheque, irrespective of the document's material content and regardless of what the cheque is written on. It's an ancient rule with a basis in free and fair access to the banking system.
It may be outdated today, but who would dare change something which has spawned a rich banking lore.
Perhaps the most renowned antics on the theme came from the novelist and humorist AP Herbert, who wrote cheques at various times on napkins, a brandy bottle and an egg.
Herbert himself then became a target in 1970 when he received a five-pound cheque from Punch magazine written on a cow. Herbert had to lead the cow into a bank to be cashed.
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