I deposited a cheque in my ICICI bank account today Issue is that my bank account is with name vipin agnihotri while cheque was issued with the name vipin kumar agnihotri Is there going to be any issue kindly help
I agree with GMF and by the way, account title should always be used exactly as it is. The check would bounce.
@ GMF, You have a fine sense of humor.... LOL! @vipinjournalist, You didn't mention what type of cheque has been given to you? Sounds like that is a crossed cheque( which can not be cashed but only deposited into your bank account). A cheque crossed A/c payee can not be endorsed by the way. You are the payee (beneficiary) of the cheque so definitely the funds are collected by the payers' bank. If the drawer/payer (a/c holder) and payee(you) have an account at the same bank then it will be processed through internal arrangement of the bank. And if you have an a/c with any other bank then will process by clearing house system(exchange of cheques by banks). As ICICI is a Indian Bank. I'm a bit confused because at the time of depositing the cheque was being supposed to be rejected for made out to the incorrect payee. That cheque would be directly invalid; there is then no room to go for bouncing or dishonoring the cheque.
Before depositing the cheque you should have asked the bank if it will be acceptable. And you should always write your name with phone number at the back of the cheque so the bank can contact you if there is any problem. What you can do now: - shoot a letter to the bank manager explaining the problem and include some supporting documents with the different name.- after a few days check your bank statement to see if the cheque has cleared....if not find out at the branch if the cheque is returned and if it is give it back to the issuer and get another one