India is moving to less cash economy and so the use of cheque and online transactions will increase. There’s a lot of awareness being created by banks about not securing the online transaction and keeping password and pins secret but I think cheque should also be used with care.
Banks do whatever they feel like with your cheques and even to the extent that they may not show cheque as cleared even if it was cleared from source bank or reject cheque with a reason of overwriting whereas actually, you wrote the date on the cheque at a later time with a different pen (not different colour) without any overwriting.
But you as an individual who has their hard earned money with the bank should be careful when handling cheques. So let me share with you few tips to managing cheque carefully and this is over and above ensuring sufficient funds in the bank account.
Share your views about cheque in comments below and if I have missed anything that you want to add about cheques, do so in comments below.
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