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Blog Entry# 1058873
Posted: Apr 15 2014 (17:19)
7 Responses
Last Response: Apr 15 2014 (18:22)
7 Responses
Last Response: Apr 15 2014 (18:22)
Off Topic..But slightly urgent. Any Bankers here, need your valuable input.
I have deposited a cheque of SBI in my IDBI Acoount. The said cheque was deposited three or four days back. In my bank statement today a corresponding credit entry of that cheque is reflecting. However
Cleared Balance Available Balance & Effective Balance is not inclusive of that amount. The unclear Balance is is considering the amount.
I...
more...
I have deposited a cheque of SBI in my IDBI Acoount. The said cheque was deposited three or four days back. In my bank statement today a corresponding credit entry of that cheque is reflecting. However
Cleared Balance Available Balance & Effective Balance is not inclusive of that amount. The unclear Balance is is considering the amount.
I...
more...
2 Posts
So can a party give instructions for stop payment, when the amount has started reflecting in my account as unclear balance. i was told by a friend, that once the amount is reflecting in unclear balance, this means the amount has been deducted from the party account, and is lying in settlement account between IDBI and SBI in my case. The party cant issue stop payment at this juncture.?? Need a view on this
I just want to safe on a transaction
I just want to safe on a transaction
Please don't worry.
As i said the Stop Payment is a issue haves long and sometime legal consequences too. And there must be a reason for this if you fear it.
But in your case the long Holiday was more appropriate reason than any other reason.
have patience and hopefully tomorrow the status will change for good.
As i said the Stop Payment is a issue haves long and sometime legal consequences too. And there must be a reason for this if you fear it.
But in your case the long Holiday was more appropriate reason than any other reason.
have patience and hopefully tomorrow the status will change for good.
Actually, Sir, i have sold my old car for a specific consideration in my hometown. All agreements have been duly signed , and the new owner wants to take the car today evening as they have marriage in their family.
As i said the amount is reflecting in unclear balance, and he is bounded by legal contract, but on a preventive side, i wanted that money should be realised in reality, before i hand over the car. :-)
As i said the amount is reflecting in unclear balance, and he is bounded by legal contract, but on a preventive side, i wanted that money should be realised in reality, before i hand over the car. :-)
As Vishva Nath wrote above, generally banks credit amounts considered "small" (usually less than Rs 1 lakh) the day the cheque is processed by them but *before* it is sent to the drawee bank (in your case this is SBI) for signature verification, etc. One the drawee bank confirms end of day that are no issues, the amount is shown as "cleared" balance.
Please note that it is possible that an uncleared balance can be reversed if there are issues like insufficient funds, signature mismatch, etc.
If you do not know...
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Please note that it is possible that an uncleared balance can be reversed if there are issues like insufficient funds, signature mismatch, etc.
If you do not know...
more...