A passbook, ATM card, and cheque book are among the basic financial instruments that every bank provides to its customers. The latter is very important because it allows for large payments to be made while keeping track of the transactions. When a person wants to pay someone or an organization, a cheque serves as a conduit between them and their bank transactions. When writing or signing a cheque, there are a few important things to keep in mind to protect the integrity of this process.
Read More : How to determine whether the pain in your chest is a heart attack
Remember to write “ONLY” after the stated amount when filling out a check. By taking this preventive measure, possible fraud is avoided and the cheque cannot be altered by an unauthorized party. An extra degree of security is added by writing the amount in words at the end of the cheque and then following it with the word “ONLY.”
The most important thing to keep in mind is never to sign a blank cheque. Before you sign the cheque, make sure to fill in the payee’s name, the amount, and the date. Giving someone a blank cheque puts you at risk of them altering it and possibly causing you financial loss.
Read More : Methods for manifesting your dreams
Carefulness is essential when signing a cheque. A small mistake in the signature could result in the cheque being returned unpaid. When comparing signatures, banks make sure they are authentic. As a result, when writing a cheque, it is crucial to make sure your signature is accurate and consistent.
Make sure the date on the cheque, matches the day it was issued by always checking it twice. By taking this easy step, future issues and inconsistencies can be avoided. Refrain from post-dating cheques in order to preserve transparency and accuracy.
Read More : The way to Verify Your PAN Card Online
When writing cheque use a ballpoint pen or permanent ink to prevent fraud and tampering. The content of the cheque cannot be altered after it is issued thanks to the use of permanent ink.
Make sure your account has enough money in it for the transaction in order to prevent cheque from bouncing. A frequent reason why cheque are turned down by banks is insufficient money in the account. To avoid any payment delays, make sure you have the correct amount in your account before writing a cheque.
Read More : Methods for manifesting your dreams
For your own records, note the check number before transferring a cheque. The cheque number acts as a trustworthy point of reference in the event of a dispute or verification requirement.
