Avoid These Mistakes While Issuing Cheques To Be Safe From Bank Frauds

Incidents of bank fraud have become very common these days. Every day, cases of bank fraud are reported from across the country. The banking sector of the country consistently gives advice and suggestions to their customers on how to avoid such frauds. For this, new initiatives have been introduced by the Reserve Bank of India. In the recent past, there has been a huge jump in the incidents of fraud related to bank cheques. The Reserve Bank has also started a Positive Pay System to prevent cheque frauds.

All the banks are gradually implementing this system issued by the Reserve Bank. Today we will tell you some precautions to avoid cheque fraud. You can also follow these things to ensure that cheques issued by the customers are not misused.

Do not sign blank cheque

Always double-check the name of the person you are paying to, the amount and the date. Never sign on a blank cheque. Always use a pen to write the details on cheque.

Crossing cheques

To keep the bank cheque safe, issue crossed cheques when required. Doing this can prevent your cheque from being misused.

Don't leave any blanks

Never leave blank space while issuing the cheque. Always draw a line when the space is blank Don't just sign the cheque anywhere. If any changes in the cheque, sign at that place for verifying the changes. Try not to change the filled particulars on the cheque.

Things to remember while cancelling

While cancelling a cheque, always tear off the MICR band and write 'CANCEL' on the entire cheque.

Keep the details of the cancelled cheque with you

Whenever you issue a cheque to someone, keep its details with you. Apart from this, always keep your chequebook in a safe place.