Cheques are a great mode of payment and in India, there are so many people who use cheques regularly for making their payments. Mostly the people who are into business in India are using Cheques to make payments. In this guide, I will be telling the steps to stop cheque payment in Saraswat Bank.
There will be an option in every bank suing which you can stop the payments of the cheque you have issued. But before you can stop the payment. Then make sure that you have a proper reason to stop the payment. If you don’t have a proper and legal reason. Then you might end up getting into trouble.
About Saraswat Bank
|Type of Bank||Co-operative Bank|
|Founded||14 September 1918|
|Headquarters of the Bank||Mumbai, Maharashtra|
Methods to Stop Cheque Payment in Saraswat Bank
I will explain to you 3 methods using which you can stop the payment of cheque which you have issued using your Saraswat bank cheque book. Recently I have published a guide which explains to you how you can request a new cheque book. You can read that if you wish to know the steps.
Using the GoMo Mobile Banking Application
By Sending SMS
By Visting Home Branch
If you are sending an SMS to stop the payment then make sure you send it from your registered mobile number only. And you can stop the payment of the cheque only before it has been encashed. Once it is encashed there is no meaning in stopping the payment and you will not be able to do it.
This is how you can stop the cheque payment in Saraswat Bank. When you instruct the bank to stop the payment, the cheque which you have issued will be dishonored by the bank. And the receiver of the bank will be unable to encash it. So before making the decision to stop the cheque make sure you have a valid and legal reason to do it.