Debited cheque has bounced in beneficiary’s account…..

POSTED BY Amit Nisar ON February 2, 2012 2:46 pm COMMENTS (3)

I have issued Cheque in Favor of “XYZ” & the same was Debited from my Saving bank account on 28th Jan. Money got debitted for same cheqe from my account on 31st Jan. But beneficiary is claiming that he has not got money in his account. When he spoke to his bank, they replied cheque has bounce…….beneficiary has been informed he should get cheque in 2-3 business day……sat – sunday is coming so my case will be extended….and till time he get money i wont be avail service which i opt for by paying…..

My question is
how it is possible…..or beneficiary is fooling me… do i get the info whether money is credited in beneficiary’s account(which i can get in day or two)…..My Bank said the money has been passed but not ready to give confirmation about credit in beneficiary’s account saying confidential info…….
any suggestion or steps i should take to know the issue soon…..

3 replies on this article “Debited cheque has bounced in beneficiary’s account…..”

  1. BFA says:

    Your case sounds to be genuine from your end – In the inception let us not doubt upon the beneficiary. In some cases, the issue is not because the beneficiary is lying. The issue lies with the clearing system where by around some cheques don’t get properly cleared due to some inefficiencies in the banking channel. Raise an official complaint in your bank asking them the exact account number, beneficiary and bank name where your funds have been sent to. They are obliged to tell you these details – nothing confidential about it. The bank managers tend to avoid such queries as they are themselves not aware how to handle such cases!

    Do keep us updated – it is a nice learning opportunity for all of us.


  2. Dear Amit, please arrange either pass book print out or bank statement from your bank showing the debit entry of cheque & mail/post the same to the person/party was receiver of the cheque money. This ‘ll be proof from your side to avail services. At the same time, ask the same party to provide the proof that the cheque has been bounced.

    In the mean time, contact your bank branch & file a written complaint for the matter.



  3. Deepak R khemani says:

    If your account has been debited then there is no way that the cheque has bounced, if at all there was some mistake from the bank’s side in debiting your account the entry will get reversed in a day or two and that should reflect in your pass book , if not then the cheque has definitely not bounced, meet your bank’s manager to get the issue resolved, if you do not get a satisfactory reply give a complain in writing(This will definitely get your work done), it works almost like magic and still if there is no response then complaining to a higher authority and the Banking ombudsman is the only way out.

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