Cheque Bounce Charges for HDFC

407 votes

When a cheque issued by you bounces, it has the potential of causing immense damage in case the receiver wishes to sue you in the Court of law. Apart from this, even the banks levy charges upon the customers if the cheque is bounced or dishonoured.

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Charges Levied by Banks in India

As stated earlier, when a cheque bounces, the banks charge a fee. Both the defaulter and the payee could be charged by their respective banks. This fee is generally an NSF fee i.e. when there are insufficient funds in the account and the bank decides to bounce the cheque. Not all banks charge the same amount, the fee varies from one bank to another. The amount of this fee depends upon the reasons and nature of cheque bounce and the kind of account. This charge may also attract GST.
 

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LawRato LawRato

809 votes

If a cheque bounces due to insufficient funds or any other technical reason, such as signature mismatch, both the defaulter and the payee are charged by their respective banks.

The penalty charges for cheque outward return are close to Rs. 300 for most banks, while charges for cheque inward return are about Rs. 100.

The penalty charges vary from one bank to another, and are different for different account types. Premium accounts usually have higher penalty charges.

Advocate Tushar Kumar LawRato