Who will take back a returned/rejected cheque? The issuer or the beneficiary?
One of my issued PDC was rejected by QNB bank with message "Cheque returned insufficient fund". The bank automatically draws penalty/fee from my account 100 QAR. I have settled the case directly with the beneficiary, so it's clear between me and him.
Now, what I need to know is, the cheque is still at the bank, as the benef told me he doesn't have it as it already submitted to bank. I need the returned cheque with me so the benef will not try to retry cashing it again.
Is it true, that once a cheque submitted, it is held by the bank, even its status is returned? If it is, then who can take the cheque back from the bank, is it me the issuer, or the other part?
I need to make sure my cheques is not re-use...
Thanks all for the advice... :)
I am facing the same issue now, I definitely need your advice if you have already solved the problem
Thank you in advance
I am facing the same issue now, I definitely need your advice if you have already solved the problem
Thank you in advance
Hi,
1) You can not collect the cheque from the bank
2) Beneficiary is hold the right to recollect the cheque from the bank and still he can redeposit you r cheque many times until the expiry of the cheque date (normally 6 month valid from the date of cheque)
3)the only way is talk to the beneficiary request him to get the cheque back from bank and give it to you
4) If he did not agree to do so, then you can visit capital police department with copy of the cheque, proof that you have settled this amount with beneficiary, contact details of the beneiciary.
5) if you dont have any proof, it is hard for you and no way to compromise with the beneficiary.
6) it is very serious issue, try to get back your cheque Soon.
Go to bank. Explain to them the developments. It can be cancelled by the bank. no need for police report.
:) that was one stupidity of me... trying to be calm here..
Anyway, any one having experience in making police report for canceling cheque? I just talked to the bank CS, they said to go to any police office... But somehow, I'm not too convinced by his words...
Any idea which police office to go?
The beneficiary (the person in whose name the cheque was issued) is entitled to get back his cheque with no doubt. And he can reuse your cheque, to encash it. Why did you settled the matter without taking back the cheque you issued under his name?
I had a similar experience and the bank returned to cheque to me immediately when the it had bounced. If QNB is holding back the cheque, then you can ask them in writing to return it to you. .
Sure, will do that... :) thanks all for the information..
Here's an idea.. Why nopt just go to the bank and ask them the easiest way to resolve your problem
Will try that, but somewhere I read that we need police report to cancel a cheque, which may take some times. Is it true?
So, before that, I just need to make sure that it is not 're-usable'.. :)
The most obvious is too easy for typical QL users, brit.
Why not just write to the bank and tell them to cancel the cheque
So there should be no chance for the beneficiary to reuse the returned cheque?
The cheque will stays at the bank, until I take it back?
It should be returned to you , but no need to worry, that cheque is stamped by the bank & nobody will ever be able to use it .................