Wondering about cheque bounce charges in Bank of Baroda. Bank of Baroda imposes specific charges when a cheque bounces due to insufficient funds or other reasons like a signature mismatch or a post-dated cheque being presented prematurely.
What are the Cheque Bounce Charges in BOB?
Cheque bounce charges are designed to discourage the issuance of cheques without ensuring sufficient funds in the account.
Inward Return Charges:
Rs.125/- (for cheque up to Rs.1 Lakh)
Rs.250/- (for cheque of above Rs. 1 Lakh to less than Rs.1 crore)
Rs.500/- (for cheque of Rs 1 Crore & above).
Outward Return Charges
Rs.250/- (for cheque up to Rs.1 Lakh)
Rs.500/- (for cheque of Rs.1 Lakh & above to less than Rs.1 Crore)
Rs.750/- (for cheque of Rs. 1 Crore & above).
Technical Reason (both for drawer & payee): Technical Reasons & for no fault of Customer no charges are deducted.
Impact and Additional Costs:
Repeated cheque bounces can negatively impact the account holder's credit score and lead to further penalties.
If the cheque is returned multiple times, Bank of Baroda may consider additional penalties or even close the account after repeated defaults.
These charges are subject to periodic revisions by Bank of Baroda, and it is advisable to check the latest schedule of charges on the bank’s official website or inquire at the nearest branch. This is all about cheque bounce charges in Bank of Baroda.
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What are the Cheque Bounce Charges in Bank of Baroda?
shikhar
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16 days
2024-08-30T21:53:59+00:00 2024-09-04T14:25:26+00:00Comment
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