Banking tips to keep in mind while writing cheque
By Lokmat English Desk | Published: April 12, 2023 05:02 PM2023-04-12T17:02:50+5:302023-04-12T17:02:50+5:30
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At present our India is moving fast towards becoming a completely digital country. That's why cash payment or check payment has become very less nowadays. Most of the time people accept the option of online payment.
Although writing a check is a very simple task, there are often small mistakes that can take a toll on you. Today, let us know in simple terms what kind of care should be taken while writing a check or making a check payment.
Fill Checks Carefully- A small mistake while filling a check can cause your check to bounce. In that case, the check should be paid very carefully before investing.
Penalty and jail time for bounced check- If your check bounces, the bank can deduct a financial penalty from you. Also, in some situations this mistake can even land you directly in jail.
Must maintain bank balance- It is very important to have the same amount in your bank account as you are writing the cheque. Not only this, the minimum balance in your account and the amount on your check must also be properly calculated.
Ban Rs 150 to Rs 800 fine- If the check you wrote bounces, you may have to pay a fine ranging from Rs 150 to Rs 800. Depending on the seriousness of the situation and other factors, sometimes this amount of fine may be higher or even higher.
