One of our customers presented an International Cheque for $300.00 US Funds (payable through HSBC, NY). The front of the item is stamped 'Not Negotiable & CO.' Has anyone ever seen this before, or know what it means? We are not sure whether it was applied by the bank, or by the person who issued the cheque.

Thanks for your assistance!

Click here for a discussion in the Ask a Banker thread on having not negotiable on foreign cheques.

Thank you, Dan!
I'm not sure that argument ever came to a resolution, but it was nonetheless very helpful.