BANKING GENERAL KNOWLEDGE
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Detailed explanation-1: -If you’ve made a mistake when writing a check, it’s usually safest just to void the check and start a new one. If this isn’t an option or your mistake is fixable, draw a neat line through your mistake and write the correction right above it. Initial your correction to help authenticate it.
Detailed explanation-2: -No changes / corrections can be carried out on the cheques (other than for date validation purposes, if required). For any change in the payee’s name, courtesy amount (amount in figures) or legal amount (amount in words), fresh cheque leaves should be used by customers.
Detailed explanation-3: -You should notify the bank of the error as soon as possible. If the check was altered, the bank may require you to complete an affidavit to officially document the problem. If this was an encoding error, the bank should correct the account and notify the paying bank.
Detailed explanation-4: -Can I deposit a check if my name is spelled wrong? If the mis-spelling is minor the bank is very likely to accept the deposit. If the mistake creates doubt as to who is the payee, you may have a problem.