My bank says name on the check presented to bank for deposit has to match exactly to their records?



I have a fixed source of income which brought long time ago, on which my last name is not spelled, but just initialized. I get divided checks with first name and last name initialized.

The bank is refusing to accept the deposit. Is it a RBI guide line to have the full name spelled out on every check that is deposited?

My bank says name on the check presented to bank for deposit has to match exactly to their records?
Rate these answers

3 Replies to “My bank says name on the check presented to bank for deposit has to match exactly to their records?”

  1. Ofcourse It should match… But show them originals of proofs submitted.. That way you can prove that you are the exact person.



  2. Yes. It should match because the Dividend Cheque issued by a company would be a crossed payee cheque. As per the Negotiable Instruments Act, it is the responsibility of the Collecting banker to ensure that the payee is the beneficiary of the Instrument. Here U prove your credentials to the satisfaction by contacting the unit head directly submitting all relevant proof/papers. You may have to submit a Notary to this effect of the change in name.





Leave a Reply

Your email address will not be published. Required fields are marked *