Cheque cleared and got cash from bank.now bank asks me to pay the money
saravanan
(Querist) 03 February 2016
This query is : Resolved
hi i cashed a cheque that was given to me by a person.i got money money from the bank. now manager calls me and asks me to pay the money back and says that cheque bounced. what do i do?.
Is our banks that careless. why would they pay money if cheque bounced?. actually my bank is indian bank. his bank is ICICI.it took five days for them to process and i took money after two days. then after three days they are saying cheque bounced.
Kumar Doab
(Expert) 03 February 2016
Has the bank supplied the letter/memo explaining the reason for cheque bounce?
Ask the BM/Bank Manager to send you a letter thru Redg. Post only.
saravanan
(Querist) 03 February 2016
no the bank did not issue any letter.But i already got the money from the bank.then how will it bounce?. is he cheating me?
P. Venu
(Expert) 03 February 2016
You may obtain the information, as suggested, from the Bank.
Rajendra K Goyal
(Expert) 03 February 2016
If the cheque is bounced, take back the cheque and pay the amount.
saravanan
(Querist) 03 February 2016
But is our banks that careless. why would they pay money if cheque bounced?. actually my bank is indian bank. his bank is ICICI. is it possible that it happens? it took five days for them to process and i took money after two days. then after three days they are saying cheque bounced.
Kumar Doab
(Expert) 03 February 2016
If the cheque has bounced then you need the memo to file for cheque bounce case and to demand money from issuer of the cheque.
If the bank/BM confirms in writing cheque has bounced then you have to return the money to bank.
Guest
(Expert) 03 February 2016
Mr. Saravanan,
Actually, your question, "our banks that careless. why would they pay money if cheque bounced," becomes due to be answered by your bank, not any member of this forum. The question arises, how a member of LCI, without knowing the style of its functioning, can speak about your bank's carelessness?
Moreover, the question has no legal validity, as that pertains to only the procedural lapse, if any, committed by your bank.
