Today, traditional banking has been replaced by online banking. We seldom use cheque books now a days. In some cases, we issue cheque even after a gap of many months. So, it is very important that we keep cheque safe?
How to keep cheque safe.
- Record details of each and every cheque issued: This will help if someone is using a bit older cheque to do fraud. If bank calls you regarding any cheque, and you have the details recorded, you can be sure at the moment about the amount on cheque and the person whom you issued the cheque.
- Do not leave your cheque book unattended: Always keep it in a safe place, probably under lock and key. It is easier to forge signature but it is tough to get the original cheque. Unless and until, you give access to someone, no one can get the cheque book linked to your account.
- Always use your own pen to write a cheque: There are many cases where fraudsters use magical pens. One can easily rub the amount written on cheque. Once the ink is removed, one can fill any amount to withdraw.
- Do not sign blank cheques: Always fill in the date, the name of the receiver and the amount before signing the cheque: Needless to explain, you know if someone has blank cheque with valid signature, he can fill any amount. Withdrawing that amount will be cakewalk for him.
- Remember to cross your cheque whenever applicable and prevent it from being misused: If even someone commits a fraud to you, you can atleast be assured that money as gone into someone’s account. You can easily track down the person and claim your money. If the cheque is not crossed, then tracking down the person who withdrew the money is next to impossible
- Always draw a line through any unused space on the cheque: Drawing lines to unused space helps ensure that cheque issued to “Ram Kumar” is not encashed by “Ram Kumar Shrivastav”. If it happens, “Ram Kumar” can again come knocking that he never got the money.
- When you cancel a cheque, mutilate the MICR band and write “CANCELLED” across the cheque:
- Never sign in multiple places unless authenticating a change.
- Do not write/sign/mark/pin/staple/paste/fold on the MICR band.
So, these are some of the tips that will help you to keep cheque safe. However, if you ever feel that you have lost you cheque or have issued the wrong cheque, or to the wrong person then you can always contact bank to stop that particular cheque.