Disadvantages of having Multiple Bank Account

Having Bank Account is Advantageous in many ways, like it help Account holder save his money and provide safety to the money against theft. Also possessing Bank account, let’s user enjoy digital services like online Banking & e-service. Due to rapid digitalization in Banking sector, many customers opt for opening Multiple Bank Account. Some user … Read more

How to fill Auto Sweep column in Account opening form

If you applying for Saving Bank Account through offline mode which involve filling a Saving Bank Account opening form, then you must have came across a column in form that says Auto Sweep facility or Flexi Deposit. Most of the applicant gets confused with this facility. Most of the Bank nowdays offers Auto Sweep facility in … Read more

What is Endorsing of Cheque. How to endorse cheque and benefits

Endorsing of cheque means writing on back of the cheque. It is process of transferring of ownership of cheque in name of another person whose name is written on back of cheque by the transferor. The person who transfer the ownership of cheque is Endorser whereas, the person on whose name the ownership is transferred … Read more

Cancelled Cheque meaning: Cancelled Cheque example and its benefit

Cancelled Cheque meaning: When two transverse lines are drawn in the middle of the cheque from across one corner to another with words ” CANCELLED ” then such cheque are called cancelled cheque. Purpose of drawing cancelled cheque: Cancelled cheque are issued when someone has to invest in financial investment like LIC, Mutual funds, Stocks, or … Read more

Bearer Cheque meaning: How to draw Bearer Cheque and it’s benefit

Bearer Cheque meaning: The word ” Bearer” itself means the possessor. Payment of Bearer cheque is made to the bearer of that cheque or the person who presents it at the cash counter. Whosoever finds this cheque can get it encashed on the bank counter. It is advisable to issue bearer cheque only when the payee … Read more