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Penny wise, pound foolish

Apr 12, 2013 Letters

Dear Editor,
Interesting, the recent Editorial headed ‘Beware the Conmen’.  About the tricksters getting away with the scam because “the cheques are paid close to or after the commercial bank has closed and the business entity therefore has no way of checking the authenticity of the document”.
The answer to this could be to warn the customer at the time of purchase that such cheques must be presented between… and …  hours that would enable the shop to establish authenticity.
No business should be so “quick to grab every penny that comes its way…and become careless”.  This is tantamount to being ‘pennywise and pound foolish’.  Take no chances.  Let the seller beware.
Geralda Dennison

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