Note: Do not forget these four things while making payment by cheque, otherwise you may face problems

Nowadays people are seen using cash very less because now online payment has replaced cash. Whether people want to buy something worth one rupee or more, they are seen making online payments for it. It has many advantages as you do not have to keep cash in it and you can make payment from your mobile itself. However, when it comes to big payments, people make payments by cheque. Making payment by cheque is also very easy, you just have to sign the cheque to the person to whom you want to make payment, after which he can take it to the bank and get it cashed or can take the money to his account, but if you are giving a cheque to someone then it becomes important for you to know some things. Otherwise, you may get into trouble later on. So let's know what are these things that you should keep in mind...

Those who make payment by cheque should not forget these things:-

Number 1
You are giving an advance cheque to someone, which means there is no money in your account today, but there will be on the date for which you have given the cheque. In such a situation, the other person can deposit the cheque in the bank and get the money, but if this cheque bounces, then you may be charged extra and in case of non-payment, a case of cheque bounce can also be made against you.

Number 2
Keep in mind that never give a blank cheque to anyone just by signing it. Otherwise, you can also be cheated. Always fill the cheque completely and only after that give it to the person to whom you have to give it, so that only that much payment can be made as much as you want.

Number 3
Many times such occasions come when we have to give a canceled cheque to someone, like- while joining a company, a canceled cheque has to be given for salary, etc. On such occasions, remember to tear the MICR band and then draw a line on the cheque and write cancel on it.

Number 4
If you make payment by cheque, then avoid signing in front of everyone. Try to sign the cheque in private. If you do this in front of everyone, then someone can also copy your signature. So do not do this.

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