Mar 24, 2016 01:19 PM
5262 Views
I have issued cheque dated 05th Feb to the party on 03rd Feb. The parties supposed to deposit that cheque on 05th Feb but they have deposited cheque on 03rd Feb. The cheque presented on 04th Feb in clearing in axis bank. Axis bank supposed to stop that transaction because of cheque is dated of 05th Feb and they can’t process on 4th Feb.
But bank processed the transaction and due to insufficient fund cheque got bounce. I don’t understand how a bank can execute postdated cheque transaction in current date. Now bank has debited Rs. 400 for cheque bounce charges.
