Mistakes to avoid while writing cheque: You all must have used cheques at some point or the other. To give a large amount of money to someone, people prefer to pay through cheque instead of cash, but do you know that you also need to be careful while filling the cheque.
New Delhi. Many of you must have used chequebook. While opening an account, most of the banks also give the cheque book along with passbook, ATM card to the customer, so that along with online and cash transactions, money transactions can also be done through this. Chequebook is used for any big payment or record transaction. If you also use cheques often, then you need to be very careful, because even a small mistake can cause big problems. Today we are telling you about 10 common mistakes which people often make.
Cheque is an instrument of the banking system through which a person issues a cheque to the bank to make payment to a particular person. The name of the person to whom the money is to be given has to be written in the cheque. Although it could be the name of a person or of a company or organization. The amount has to be written in the cheque, and it is also necessary to sign on the cheque. It is better to avoid these mistakes while signing cheques rather than getting hit hard.
Please write only after amount
Whenever you issue a cheque, always write Only along with the amount. Actually, the purpose of writing Only at the end of the amount on the cheque is to prevent possible fraud. Therefore, after writing the amount in words, we write Only at the end.
Do not sign blank cheques
Never sign a blank cheque. Before signing the cheque, always write the name, amount and date of the person to whom the cheque is being given. Always use your pen to write on cheques.
There should be no mistake in the signature
Apart from the money, if the signature of the cheque drawer does not match with the signature present in the bank, then the cheque will also get bounced. Banks do not clear payment for such cheques in which the signature of the person issuing the cheque does not match. Therefore, before issuing the cheque, it would be better to ensure that your signature matches with the signature available in the bank.
Get the date correct
Make sure the date on the cheque is correct and matches the day you are issuing it. This is most important. This saves you from a lot of confusion and ensures you know when the cheque will be valid for encashment.
Use permanent ink in cheques
To avoid tampering with the cheque, permanent ink should be used so that it cannot be cut or changed later. With this you can also avoid fraud.
Do not sign the cheque and give it to anyone.
Never issue a blank cheque. The reason for this is that any amount can be filled in it. Doing this can be extremely risky.
It is necessary to have sufficient balance in the account
If the cheque bounces, you may have to go to jail along with fine. When a bank rejects a cheque for some reason and payment is not made, it is called bounced cheque. The reason for this happening is mostly due to lack of balance in the account. It is very important to have sufficient balance in your account while issuing the cheque.
Avoid post-dating
Avoid post-dating the cheque as the bank may not accept it. The date plays an important role in paying the cheque to the bank. You can enter the date when you want the funds to be deducted from your account. If you have entered the wrong date, month or year, your cheque will most likely be returned.
Keep cheque number
Take note of the cheque number and note it in your records. It is important to make sure you write it down in a safe place. Whenever there is any dispute, you can always use this cheque number to clear doubts or to give it to the bank for verification.
