Many a times it so happens that if you draw a cheque in favour of someone, the cheque gets bounced for one reason or another. Most banks today levy certain charges from their customers in case a cheque bounce occurs. These charges towards a cheque bounce vary from one bank to another. Cheque bounce charges stipulated by SBI or State Bank of India, HDFC Bank and ICICI Bank vary depending on factors such as the reason and nature of cheque bounce. Cheque bounce charges levied by SBI, ICICI Bank and HDFC Bank are subject to GST or Goods and Services Tax.
If a cheque bounce occurs due to insufficient funds or signature mismatch, both the defaulter and the payee are charged by their individual banks. However, a bounced cheque can be redeposited.
Here's a comparison of charges levied by SBI, ICICI Bank and HDFC Bank in case of a cheque bounce:
SBI cheque bounce charges, as mentioned on the bank's website - sbi.co.in:
| Cheque/bill deposited with us returned unpaid by others (Local/ Outstation) | |
|---|---|
| Cheque/bill up to ?1.00 lakh | Rs 150/- + GST |
| Cheque/bill above ?1.00 lakh | Rs 250/- + GST |
| Cheque Returned Charges for Cheques drawn on us (for insufficient funds only) | |
| For all customers | Rs 500/- + GST, irrespective of the amount |
| Cheque returned charges for Cheques drawn on us (for technical reasons) for all customers. (Not to be charged where customer is not at fault as per RBI guidelines) | Rs 150/- + GST |
HDFC cheque bounce charges, as mentioned on the bank's website - hdfcbank.com:
| Cheque return charges drawn on us - Local | Due to insufficient funds |
|---|---|
| First cheque return in a quarter - Rs 350 | |
| From second cheque return in the same quarter - Rs 750 per return | |
| Charges due to funds transfer cheque return - Rs 350 | |
| Due to technical reasons - Rs 50/- | |
| (ex. - Alteration not allowed, Amount in Word / Figures Required, Cheque Altered - Refer to Drawer, etc.) | |
| Cheques deposited returned unpaid | Charge of Rs 100 per instance |
| Stop payment charges (request from customer not to honor cheque issued) at Branches | Particular cheque - Rs 100 |
| Range of cheques - Rs 200 | |
| No Charge through PhoneBanking and NetBanking |
ICICI Bank cheque bounce charges, as mentioned on the bank's website - icicibank.com
| Cheque Returns | |
|---|---|
| Local cheque deposited by customer | Rs.100 for every cheque return for financial reasons |
| Cheque issued by customer | Rs.350 for one cheque return per month; Thereafter, Rs.750 per return in the same month for financial reasons Rs.50 for non-financial reasons except for signature verification |
| Transfer cheque returns will be charged at Rs. 350 per return for financial reasons | |
| Outstation cheque deposited by customer | Rs.150 plus other bank charges at actuals per cheque |
All the three banks also levy ATM and debit card charges.
If you fail to maintain minimum balances in your savings accounts with these banks, your are charged a penalty fee.
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