7 June, 2024
Synopsis
Cheques facilitate payments between different accounts and accountholders.
You need to know the different ways how to deposit a cheque as approved by your bank.
You can deposit cheques at the bank in person, at ATMs, at drop-boxes, and online too.
Banking in the 21st century typically involves swift, online transactions, where funds can be transferred between accounts within minutes, if not seconds. And yet, some transactions are heavily cheque-reliant. For instance, many businesses still prefer cheque-based transactions. If it’s your first time handling a cheque, and you wish to know how to deposit a cheque in a bank, this article is for you.
How to Deposit a Cheque – The Step-wise Process
Upon receiving a cheque, you need to deposit it into your bank account to receive the payment made in your name. In most cases, account holders prefer to deposit the cheque in person, which involves the following steps:
Visit the Nearest Bank Branch
The first thing to do is to head to the bank to deposit the cheque. If you are wondering ‘Can I deposit cheque in any branch?’, the answer is yes and no. In most cases, you can deposit the cheque in any branch, so long as it is of the bank in which you have an account. However, the words ‘Payable at Par’ should be written on the cheque. In smaller banks, you may be required to deposit cheques in the same branch with which you have an account.
Obtain a Deposit Slip
Upon entering the bank, locate the deposit counter or approach a bank representative for assistance. Request a deposit slip if one is not readily available.
Fill the Deposit Slip
Fill out the deposit slip with accurate details, including your account number, name, name of the bank through which the cheques are drawn, the cheque number and the cheque amount. Also, enter your name, account number, contact number and signature on the flipside of the cheques. You can use one slip to deposit multiple cheques.
Submit the Cheque
Join the queue at the deposit counter and submit it. Present the filled deposit slip along with the endorsed cheque/s to the bank teller. The teller will verify the details, including the signature, and process the deposit.
Acknowledgment Receipt
After depositing the cheque, the teller will provide you with an acknowledgment receipt. Review the receipt to ensure all details are correct, including the deposited amount and account number. Retain the receipt for your records, as it serves as proof of the transaction.
Alternative Methods for Cheque Deposit
In addition to in-branch deposits, banks offer alternative methods for cheque deposits to enhance convenience for you as a customer:
Automated Teller Machines (ATMs)
Many banks provide ATMs equipped with the cheque deposit facility. Simply insert the endorsed cheque into the designated slot, follow the on-screen instructions, and complete the deposit.
Mobile Banking Apps
Several banks offer mobile banking apps that allow you to deposit cheques remotely. Using the app, capture images of the front and back of the cheque, enter relevant details, and submit for processing.
Cheque Drop Boxes
Some bank branches and ATMs are equipped with drop boxes, where you can deposit cheques outside of banking hours. Ensure the cheque is properly endorsed with relevant details before dropping it.
Deposit Your Cheques Easily Via Any Of The Various Options Provided By HDFC Bank
HDFC Bank offers a range of convenient options for cheque deposits. Whether you prefer traditional in-branch deposits, ATM functionality, or the ease of mobile banking apps, we cater to diverse preferences. With these versatile avenues, depositing your cheques and managing your accounts becomes seamless and convenient. Open Your HDFC Bank Savings Account today.
*Disclaimer: Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circ*mstances.
