25K limit on cashing a check in a branch different to where one opened their account!

#1 Mar 25th, 2018, 05:16
Join Date:
Oct 2004
Location:
Here, there, everywhere, somewhere and nowhere.
Posts:
1,465
  • Yaatri is offline
#1
I opened an account in branch XXX of a bank many years ago. In April 2017,I wrote a cheque fir INR for a 6 fihure amount drawn in my brother's name, who presented it at branch YYY. YYY branch would not cash the cheque stating that any branch, other than the branch where an account was opened, would not cash a cheque exceeding INR 25000/-. My brother went to branch XXX and cashed the cheque.

I thought that it must be some banking regulation in India. One of my friends, who has been in banking industry for 35 years and is now a consults advising banks on information technology, says that there is no such rule. I have searched and have not found anything that addresses this 25k limit.

Does anyone have any idea?
What is harder than travelling in India?
Talking to the members of Flat Earth Researcher's Society"
#2 Mar 25th, 2018, 09:03
Join Date:
May 2014
Location:
In the original virtual world - 'The Mind' - a beautiful thing
Posts:
7,770
  • snotty is offline
#2
Actually there are loads of home branch and non home branch regulations nowadays!
SBI in some branches does not allow transactions (atleast significant ones) in non home branch. Plus it charges for transactions done in non home branches. Restrictions on the number of pages printed in non home branches, -- All this under the heading of convenience of the home branch customers!
That doesn't absolve the home branches of some banks. Another multistate co-op bank that I do my banking with has a instruction pasted at the cash counter - any withdrawal of above 50K has to be intimidated the day prior, else it may be refused in case of cash shortage! (apparently need to cater other customers as well!)

So I guess some rules are made on the go! The SBI however officially charges (I knew of 25 Rs, may have increased to 50 now) for non home branch transactions.
Sar Pass Trek , Rohtang, Munnar, Badrinath Kedarnath, Vaishnodevi, Goa, VOF, Kedarkantha, Kuari Pass, Brahmatal Trek
#3 Mar 25th, 2018, 13:20
Join Date:
Jan 2010
Location:
North Rhine-Westphalia
Posts:
7,027
  • Golghar is offline
#3
Quote:
Originally Posted by snotty View Post any withdrawal of above 50K has to be intimidated the day prior,
Yes, banks in India can be quite intimidating: especially if it is your money.
#4 Mar 25th, 2018, 14:19
Join Date:
Sep 2001
Location:
Land that shakes and bakes.
Posts:
15,580
  • edwardseco is online now
#4
Nice intimation given the recent news..
#5 Mar 25th, 2018, 15:09
Join Date:
May 2014
Location:
In the original virtual world - 'The Mind' - a beautiful thing
Posts:
7,770
  • snotty is offline
#5


Kindly read intimidate prior as intimate beforehand!

And I am not editing this, people need something to laugh at. One more thing added to that list then!
#6 Mar 25th, 2018, 15:39
Join Date:
Oct 2004
Location:
Chennai, India
Posts:
70,151
  • Nick-H is offline
#6
Thank you snotty, for your contribution to Great Typos of our Times

~
Life gets aadhar every day.
.
#7 Mar 26th, 2018, 05:03
Join Date:
Oct 2004
Location:
Here, there, everywhere, somewhere and nowhere.
Posts:
1,465
  • Yaatri is offline
#7
Quote:
Originally Posted by snotty View Post Actually there are loads of home branch and non home branch regulations nowadays!
SBI in some branches does not allow transactions (atleast significant ones) in non home branch. Plus it charges for transactions done in non home branches. Restrictions on the number of pages printed in non home branches, -- All this under the heading of convenience of the home branch customers!
That doesn't absolve the home branches of some banks. Another multistate co-op bank that I do my banking with has a instruction pasted at the cash counter - any withdrawal of above 50K has to be intimidated the day prior, else it may be refused in case of cash shortage! (apparently need to cater other customers as well!)

So I guess some rules are made on the go! The SBI however officially charges (I knew of 25 Rs, may have increased to 50 now) for non home branch transactions.
I suppose, a bank can make its own policy. I understand that a bank branch may have only limited cash/currency at hand on any given day but how does restricting large transactions to a home branch help that situation!

My brother tried three non-home branches in various parts of Delhi, in the west, south west and one in CP. It requires much less sophisticated technology for cashing a cheque in a non-home branch than an ATM or digital payment systems.

Goldghar put it nicely.

Similar Threads

Title, Username, & Date Last Post Replies Views Forum
NRI cashing the cheque problem Jan 28th, 2017 21:04 25 2533 Money Issues and India Travel
Cashing £UK cheque in India Sep 12th, 2014 23:12 25 4088 Money Issues and India Travel
Cashing an Indian rupees cheque Jan 1st, 2005 01:07 3 6652 India Expat Area


Posting Rules

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
Forum Rules»
Trackbacks are Off
Pingbacks are Off
Refbacks are Off
Thread Tools
Display Modes

Search Engine Optimization by vBSEO 3.3.2
© IndiaMike.com 2018
Page Load Success