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Payee name question

Discussion in 'Payment Processing' started by krashok2010, Apr 11, 2011.

  1. #1
    My name is "K R Ashok"... I am having a bank account in Axis Bank with this name... The full expansion of this name is "Kannivadi Ramesh Ashok"... I recently got a cheque which has "Kannivadi Ramesh Ashok"...
    SEMrush
    If i give the cheque to my bank, do they credit the money into my account ?? Please clear my doubt...
     
    krashok2010, Apr 11, 2011 IP
    SEMrush
  2. Jeehan

    Jeehan Well-Known Member

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    #2
    I think you will have trouble.
     
    Jeehan, Apr 11, 2011 IP
  3. Disguised

    Disguised Notable Member

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    #3
    I don't think you should have any trouble with that. Bank will most likely ask you to verify the name and then will deposit the funds.
     
    Disguised, Apr 11, 2011 IP
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  4. johnmacellen

    johnmacellen Member

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    #4
    i think you will face problem, i have faced same problem in past, the only solution is to open new account in another account.
     
    johnmacellen, Apr 11, 2011 IP
  5. Kevin Gmm

    Kevin Gmm Peon

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    #5
    There's not much point in everyone guessing what the banks policy may or may not be. It would be best just to take the cheque to the bank, fill out a deposit form and deposit the cheque. If the bank queries the name, then show them your ID, surely your details, including your full name will be on the banks records if you have an account. If they don't query anything then everythings ok anyway. Chow chow, Kevin
     
    Kevin Gmm, Apr 11, 2011 IP
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  6. Bohra

    Bohra Prominent Member

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    #6
    i dont think this would be a big issue go to ur bank and see let them decide
     
    Bohra, Apr 12, 2011 IP
  7. contentdiva

    contentdiva Active Member

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    #7
    Exactly since each bank is different. Some of them would let you know outright that you cannot deposit that check while others will let it go through with proper verification. It all depends on the relationship that you have with them too.

    Also I don't understand why you would use your initials instead of your full name for a bank account :S
     
    contentdiva, Apr 14, 2011 IP
  8. ibanezgrx1

    ibanezgrx1 Well-Known Member

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    #8
    If the check is local check, I don't think you will have much trouble(though that depends bank to bank) If that is a international check the clearing bank is most likely not to release the money.
     
    ibanezgrx1, Apr 14, 2011 IP
  9. lifeplayer

    lifeplayer Notable Member

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    #9
    that's shall be fine because you can still show your IC
     
    lifeplayer, May 1, 2011 IP
  10. sar420

    sar420 Notable Member

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    #10
    Depends form bank to bank, some are more bureaucratic than others. But if you have valid documents there shouldn't be a problem in the long term
     
    sar420, May 1, 2011 IP
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