How to Write Cheque: There are many rules related to making payments through bank cheques, but most people are unaware of them. This is the reason why banks sometimes refuse to make payments.
Everyone knows about the precautions to be taken regarding signatures on cheques, but do you know about a fact regarding the amount in words on the cheque? The amount on the cheque is written in words as well as in numbers. After writing the amount in numbers and words on the cheque, ‘Rupees only’ is written. But, some people just write Rupees and forget or omit writing the ‘Method’. Do you know why Rupees only is written on cheques?
Why write ‘only’ before rupees on a cheque
While signing a cheque, always write only “Rupees” followed by “Rupees”. This is an important measure to prevent cheque tampering. If you write only “Rupees” without the full amount, someone can easily add extra digits or words to increase the amount to be paid.
- -Writing the amount on the cheque in numbers and words “only” at the end makes it difficult for someone to alter the cheque and claim a larger amount.
- -Writing the currency with “Rupees only” ensures that there is no confusion about the amount intended.
- -In case of cheques, this is a standard procedure followed in banking systems for security reasons to prevent fraud.
However, now in the age of internet banking, transactions through cheques have reduced. But, if you issue a cheque in any situation, then it is important to know the rules related to it.
Related Articles:-
Big relief for Employees! Extends the deadline to activate UAN to avail the benefit of ELI scheme
SEBI notified new rules related to nomination in Demat and Mutual fund accounts. Check Details
Indigo New Flight: IndiGo to launch Bengaluru-Ayodhya direct flights from December 31
