INSUBCONTINENT EXCLUSIVE:
A bounced cheque can be redeposited.Most banks in the country levy certain charges from their customers in case a cheque bounce occurs
Cheque bounce is a 'dishonour of cheque' that happens when the account holder has non-sufficient funds (NSF) in the bank account or if the
signatures on the cheque do not match with the original signature of the cheque issuer
When there are insufficient funds in an account, and a bank decides to bounce a check, it charges the account holder an NSF fee
The charges towards a cheque bounce vary from one bank to another, depending on factors such as the reason and nature of cheque
bounce. State Bank of India (SBI):SBI cheque bounce charges, as mentioned on the bank's website - sbi.co.in:Cheque/bill deposited with the
bank returned unpaid by others (Local/ Outstation)Cheque/bill up to Rs 1.00 lakhRs 150/- + GSTCheque/bill above Rs 1.00 lakhRs 250/- +
GSTCheque Returned Charges for Cheques drawn on us (for insufficient funds only)For all customers Rs 500/- + GST, irrespective of the
amountCheque returned charges for Cheques drawn on us(for technical reasons) for all customers.(Not to be charged where customer is not at
fault as perRBI guidelines)Rs 150/- + GSTICICI Bank:ICICI Bank cheque bounce charges, as mentioned on the bank's website -
icicibank.comCheque ReturnsLocal cheque deposited by customerRs.100 for every cheque return for financial reasonsCheque issued by
customerRs.350 for one cheque return per month; Thereafter, Rs.750 per return in the same month for financial reasons Rs.50 for
non-financial reasons except for signature verificationTransfer cheque returns will be charged at Rs
350 per return for financial reasonsOutstation cheque deposited by customerRs.150 plus other bank charges at actuals per chequeHDFC BankHDFC
cheque bounce charges, as mentioned on the bank's website - hdfcbank.com:Cheque return charges drawn on us - LocalDue to insufficient
fundsFirst cheque return in a quarter - Rs 350From second cheque return in the same quarter - Rs 750 per returnCharges due to funds transfer
cheque return - Rs 350Due to technical reasons - Rs 50/-(ex
- Alteration not allowed, Amount in Word / Figures Required, Cheque Altered - Refer to Drawer, etc.)Cheques deposited returned unpaidCharge
of Rs 100 per instanceStop payment charges (request from customer not to honor cheque issued) at BranchesParticular cheque - Rs 100Range of
cheques - Rs 200No Charge through PhoneBanking and NetBankingIf a cheque bounce occurs due to insufficient funds or signature mismatch, both
the defaulter and the payee are charged by their individual banks
However, a bounced cheque can be redeposited.
