cpc

at the time of bank a/c closing unused cheque required ?


At the time of Bank A/C closing unused cheque required  it is compulsory?

 

Whether it is declared either in LAW , RULES, OR Regulation  or Circular of RBI   

 

Plz inform me !

 
Reply   
 

Yes, atm/debit cards and unused chq leaves are generally required to be surrendered alongwith a/c closure form in almost all banks. There is no law or RBI regulation regarding this, it is a prevalent banking practice. However, recognising that it is sometimes unfair to insist on surrendering cards and chq leaves, many banks have now incorporated in the a/c closure form lines like  "we declare that we have destroyed our atm/debit cards and all unused chq leaves linked to the a/c...bank shall not be liable for any misuse of cards/chqbooks in future".

 

It is advisable that cards & unused chq leaves are mutilated/cancelled while surrendering them to the bank, to prevent misuse by bank officials.

 
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