WeRe Bank update


Should you be presented with a WeRe cheque, we would strongly advise you read this update.

Author: Roxanne Bradley
Reading time: 2 minutes

This article is 5 years old.

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A case surrounding the use of cheques from WeRe bank was recently reviewed in the case of Evans v Santander UK Central London CC 2016.

Background on WeRe Bank

WeRe is a UK based company which purported to be the peoples bank and appeared to have created its own currency, RE. Members were required to issue a promissory note to WeRe Bank for the sum of £150,000 which was payable within 10 years from the time of joining. Members were then able to by RE cheque books. WeRe Stated the cheques could be used to pay all public liability and private payments. WeRe’s website stated under Bills of Exchange Act 1882 ss42 and 43, if a payment was refused, the payee was acting in dishonour and liability for the payment ceased. The details on the cheque being the sort code and account number were invalid and were the same details WeRe bank issued to every member.

Evans issued 3 cheques to Santander UK amounting to £640,000 to discharge his liability under buy to let mortgages he had with the lender. Santander refused the bank cheques. Evan then issued proceedings for a declaration that his liability had been discharge. Santander UK applied for summary judgement.

Evans claim was dismissed and it was ruled the lender was under no obligation to accept the worthless cheques issued by WeRe Bank.

Our advice previously given remains unchanged. Should you be presented with a WeRe cheque, we would strongly advise you read the above case as well as the warning given previously by the FCA.

Roxanne Bradley

Legal Advisor

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