August 16, by Sreekanth Reddy Comments A friend in need is a friend indeed. We generally approach our friends or close family members when we are in need of any financial help.
How to write a cheque in India? But there some simple things we overlook while writing out a cheque to someone that can easily be misused.
We write it so many times to pay bills, make payments etc. But there are times when people make the most obvious and sometimes careless mistakes while writing a cheque that can easily result in frauds or cheques being misused or dishonored.
Let us see what the correct way to write a cheque is and how to avoid mistakes while writing a cheque.
You can also find an informative post on Why a cheque bounces or gets dishonoured, over here Understanding various parts of a Cheque: What is an MICR code? Where is the Cheque Number located on a cheque? Is there an IFSC code on a cheque? If you have asked yourself these questions, then here are all the answers.
It can be very basic but sometimes the most basic things are the ones which are most overlooked. This image below is of a dummy cheque which covers everything you see on a cheque, it is pretty self explanatory.
Writing a Cheque the correct way? For understanding the ways to write a cheque correctly, we have a typical situation where you have to pay some fictional person Mr. Joy Johnson a sum of Rs. So now let us get down to seeing how we can write all the details correctly.
Imagine if a cheque is lost, all this comes in to play. Pros and Cons of Online Shopping in India 2.
Do not leave any space before or in-between the Name of the Receiver. Do not leave blank space after the Name is written: Doing this can give anyone a chance to add alphabets before or after the name like in the images below and claim the money. Same can be done if you leave space after writing the name.
Investment Tips for Beginners: Part 1 If you do not follow the above; amounts can be altered easily by the fraudster. In the image below you can see how easily certain amounts can be forged by people if the Cheque Issuer is careless.
Alphabets can be added and even numbers. Always sign on the space provided above the Authorized Signatory text or The Name of the Account Holder as in the image below. Writing a cheque without a date can enable anyone to put any date and encash the cheque at their will.
This can be a problem if you do not have sufficient balance in your account right now and intended the cheque to be a post-dated cheque when that amount maybe available.
The cheque will be dishonoured. Also a cheque without a date will not be passed by your bank and again will be dishonoured. Also a wrongly written date, like a wrong year or a month can often result in dishonour if the date is past 3 months.
Always remember to not overwrite, scribble or cancel anything and then rewrite on a cheque.6. Do not Overwrite: Always remember to not overwrite, scribble or cancel anything and then rewrite on a cheque. If mistakes happen try to rectify without scribbling, and if not possible, cancel the existing cheque and write a new one carefully.
Check Writer / Cheque Printer for FREE (Chrysanth Cheque Writer) Cheque Amount to Word Converter; Free HR Software; Cheque Amount to Words Converter Print Email Tweet Please enter a cheque amount that you want to write in words.
InvestorWords - The Most Comprehensive Investing Glossary on the Web! Over financial and investing definitions, with links between related terms. It is the nature of writers to wonder. We wonder about others and we wonder about ourselves. We even wonder why we write. For most of us the compulsion to write is so ineffable.
Guidelines to use the cheque printing software (with CTS format). Why write cheque with pen when you have software to print it. The question that you might possibly think of is, will I require any special printer for printing my cheques?
Check Writer / Cheque Printer for FREE (Chrysanth Cheque Writer).