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Want to Give Stop Payment Instruction For SBI Cheque: Here's All You Need To Know

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Are you a State Bank of India (SBI) customer and want to stop the payment of an SBI cheque issued by you then besides the usual process of getting the same done through the offline route i.e. by visiting the bank branch, the same can also be done online.

 

Want to Give Stop Payment Instruction For SBI Cheque: All You Need To Know

Remember for all the online services your mobile number needs to be registered with the bank as OTP is sent for completing the process to your registered mobile number.

Note there can be 'n' number of reasons for stopping the payment of cheques you might have issued:

1. Say you might have cancelled the order after issuing the cheque

2. Issued the cheque with the wrong amount

How To Stop SBI Cheque Payment Through Net Banking?

- Login into your SBI account by visiting onlinesbi.com and entering your personal credentials i.e. login Id and password

- Now under the 'e-Services' tab, you need to click on the ' stop cheque payment' option

- Now you need to select or check the account from which the cheque has been issued

- In the next step the system asks you to furnish details such as 'start cheque number' and 'end cheque number'

- Type of cheque is also required to be selected

- Then the bank during the same process shall confirm from you the reason why you are stopping the SBI cheque payment. For the same you can choose from the options give under 'Stop reason' section.

- Click on Submit and then cross check the details in respect of your request. Later click on 'Confirm.

- After the request for stopping SBI cheque payment has been successfully placed, a message shall appear together with the reference number for the request.

How to stop SBI cheque payment using SBI Yono?

 

• Log in to SBI Yono Application using your credentials

• Click on the option under 'Requests' then 'Cheque Book' and then 'Stop Cheque'.

• From the drop down choose the option from which account the cheque was issued

• Like in the above process here also you need to give the start cheque number and end cheque number

• Select the instrument type.

• Select the stop reason. This is among the mandatory requirements that need to be fed in the system

• Click on 'Submit'.

• Then for the verification you will receive the OTP on your registered mobile number which needs to be entered and thereon your request for stopping SBI cheque payment will be processed by the bank.

Now since January 2021, SBI and other banks have been following positive pay system as per which the person issuing the cheque for high value payments over Rs. 50,000 needs to re-confirm key details to the bank.

Stopping Cheque Payment Service is not free and entails a cost as discussed below:

For the stop payment instruction, in respect of all the accounts, including savings, current and cash credit account, SBI charges Rs. 100 + GST per instrument and here the maximum chargeable amount is Rs. 500 plus GST per instance. The charges levied on you for the stop payment instruction shall depend on the condition as well as the cheque amount.

GoodReturns.in

Read more about: sbi cheque
Story first published: Sunday, June 20, 2021, 13:56 [IST]
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