Want to know if a cheque you have received may bounce? Get a Cheque Score

Dubai: If you are being offered payment for a financial transaction through a cheque but are unsure whether the cheque will be honoured or not, you can find out how likely it is that the cheque might bounce with a service provided by Al Etihad Credit Bureau (AECB).

The cheque risk assessment service allows someone to assess the credit worthiness of your payee when receiving a payment in teh form of a cheque and indicates the probability of a cheque bouncing.

By simply scanning the cheque using your phone, or uploading the data manually, the service indicates the likelihood of the cheque to bounce in the next nine months.

However, it is important to note that the service is only available for cheques issued through UAE banks. So, if you want to take advantage of this service, here are the steps to follow:

Through the website:

1. Visit etihadbureau.ae
2.  Under the 'products' category, select ‘Cheque Score’ and click on ‘Get a Cheque Score now’.
3. You will then be asked to sign up for the service. Enter your mobile number, email address and set a password.
Once you have registered for the service after entering the one-time password sent to your mobile number, you will be directed to service dashboard.
4. Select ‘Get a cheque score’'.
5. Enter the details of the cheque, including bank’s name, issuer’s and receiver’s name, amount mentioned in the cheque and other details.
6. Click on ‘Get a cheque score’.
7. You will then be asked to make a payment for the cheque score report, which is Dh10.50.
8. Once you have made the payment, you will be able to get a cheque score report.

Through the app:

1. Download the Chequescore app, which is available for Apple and Android devices.
2. Tap on ‘Register’.
3. Enter your mobile number, email address and set a password.
Once you have registered for the service after entering the one-time password sent to your mobile number, you will be directed to service dashboard.
Tap on ‘Get a Cheque Score’ on the bottom of your screen.
4. You will be given the option for scanning a cheque, uploading an image of the cheque or entering the details manually.
5. Once you have selected the option that is easy for you, click on ‘Next’.
6. Enter the additional details, like the date the cheque was issued, the receiver’s name and the amount mentioned on the cheque.
7. Make the payment to receive the cheque score report, which is Dh10.50.
8. Once you have made the payment, you will be able to get a cheque score report.

What details does the cheque score report provide?

The report will help you understand the likelihood of the cheque bouncing. The report includes:

1. A snapshot of the cheque’s details.
2. Probability that the cheque will bounce. The indicator ranges between the low probability to bounce coloured in green, medium probability to bounce coloured in amber and high probability to bounce coloured in red.
3. Cheque issuer insights, including the percentage of cheques that have bounced in the past 24 months and if any finance-related court cases have been reported for the customer in Dubai Courts or Ras Al Khaimah courts.

How is a cheque score calculated?

According to AECB, the Cheque Score is calculated using a complex algorithm based on modern predictive analytics methodologies taking into account not only chequest, but also the vast information available in the credit profile of Etihad Credit Bureau database and compares it to the information available for all other cheques issued in credit history and the behaviour of individuals or companies in the UAE. 

What is the cost for using the service?

Dh10.50 (not including VAT) per cheque

The story was first published on  April 22, 2022, and has been updated since.