Amol Kende (No) 27 May 2015

Bearar cheque

Help required here 1 party who signed and issue bearar cheque to withdraw cash from the bank in the cheque name mentioned suppose 1z but due to medical reason its required urgent cash 1z unable to to the bank but he send his brother 1B but due to ID proof not available Bank rejected to pay the mony

to the 1B as per the cheque \

1) When bearar cheque issued then is it fair what bank done to reject to pay the money

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4 Replies

naveenraj jain (proprietor) 27 May 2015

Banks have done right this to safeguard from any fraud played. Also sending different person brings suspicious doubt on the part of bank. It is prudent to refuse the payment for the cheque to the third party who do not hold any ID PROOF or its copy

ADV-JEEVAN PATIL, MUMBAI ( DEEMED/CONVEYANCE OF BUILDING) 28 May 2015

Agree with my friend expert Naveenraj

Amol Kende (No) 28 May 2015

Is it for Non crossed cheques also applicable where only bearer can take mony for that what need to mention in the check if no need to check any ID proof by the bank is it SELF to be mentione and any else.

Is it possible if any crossed cheque submited in bank but customer want cash with out having a/c on the bank

naveenraj jain (proprietor) 01 July 2015

Curiosity is the mother of all inventions and your suggestion implies the same. Banks for ages have honoured cheques tothird parties having bearer cheque but few unscrupulous persons took advantage and committed fraud and eventually banks had to bear the losses. To avoid such handing of cheques banks demand ID proofs to verify the genuineness. my dear friend what is the problem in providing ID copy to the bank. We should instead uphold banks in high esteem for safeguarding the account holders hard earned money.