A "crossed sterling check" is one payable either to bearer or order, having the name of a banker, or two parallel lines and the abbreviation "& Co.," written or printed across the face, thus: "................& Co."

The effect is to direct the bank upon which it is drawn to pay the check only when coming to it through some other bank. It is intended as an additional safeguard against wrong payment.

In most foreign countries it is the custom of bankers and others in the cashing of checks, whether drawn payable to order or bearer, to pay to the person presenting the same, and under the laws existing in these countries the paying bank or banker would not be held liable for wrong payment. As a reason for this seemingly risky method, it is claimed that on account of the very severe penalty imposed for forgery under their laws, the requiring of strict personal identification, as exacted by banks in the United States, is found unnecessary.

As an additional precaution against wrong payment, the laws of Great Britain require that where a check is crossed, as explained above, while not requiring personal identification, it must be cashed through some bank other than the one upon which it is drawn.

Notwithstanding the requirements under the laws, we presume a reasonable amount of care is exercised by banks to prevent losses by incorrect payment, and we are informed that in some countries a stranger presenting a check drawn to his order is required to make affidavit that he is the person named, for which affidavit the paying bank exacts a small fee.