Bank Cheque: Cheque book users should never make these 4 mistakes, they will incur huge losses...
Tips For Check Payment: Now there are many ways to make payment to someone, because earlier if you had to send money to someone, you had to go to the bank for it. But now you can easily send through online net banking and through the UPI app. Not only this, now one does not have to go to the bank even to withdraw money, because now there are ATMs. From where you can withdraw money whenever you want. Amidst all this, many people especially make big payments through cheques. You can cash the check and also get the money in your bank account. But if you make payment by cheque, then it is important for you to take special care of some things. Otherwise, you may also get into trouble...
It is important to keep these things in mind:-
If you pay someone through a cheque, then do not accidentally give someone a blank check just by signing it. Doing this can put you in trouble because the other person can easily withdraw money from your account by depositing any amount. Therefore never do this.
Usually, when people fill in the amount on a cheque, they write the blank amount as Rs 50,000. Do not do this, instead, always write the amount like 50000/-. After this mark is placed, no one will be able to tamper with your amount. Also, apart from numbers, write the amount in words.
You must have had to give a canceled check somewhere or the other. At the same time, especially after joining a company, the HR department asks for a canceled check from you. During this, make sure to tear the MICR band and then draw a line over the entire check and write CANCEL.
While giving a check to someone, keep one thing in mind give an advance check to someone only when there is money in your bank account or it is going to come on the date on which the check is given. This is because if this check bounces, then firstly you get fined and secondly, in case of non-payment, a check bounce case can be filed against you and you may even go to jail.
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