If Cheque is Bounced, What to Do – NRI Legal | |
If a cheque bounces, it means the bank has refused to process it due to reasons like insufficient funds, signature mismatch, or a closed account. The first step is to inform the issuer about the dishonored cheque and request an alternative payment. The bank will issue a cheque return memo stating the reason for the bounce, which is important for further action. If the cheque was returned due to insufficient funds, you may try depositing it again after confirming with the issuer. If payment is still not made, you can send a legal notice within 30 days of receiving the cheque return memo, giving the issuer 15 days to settle the amount. | |
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| Target State: All States Target City : Chandigarh Last Update : Mar 21, 2025 3:27 AM Number of Views: 9 | Item Owner : NRI Legal Contact Email: Contact Phone: 07428899979 |
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