How to stop a cheque issued from being encashed?

[arjun697]

Hi folks!
So yesterday some relatives visited my mom along with some 'friend' to explain to my mom about some investment plan (My mom is a retired teacher). The person who visited told something about forex trading using currency swaps and some crypto stuff. Basically, they take the money and return double in 2-3 months. My mom admits she doesn't know much about finance or numbers but since it was relatives, she trusted them. They did confirm their money doubled in 3 months. In the end, these people left home with a cheque for 300k late yesterday evening around 6PM.

Much later at night I came to know about this and my mom had also recorded a bit of their meeting. The guy in question said, they earn 3% a day and they keep aside 0.8% to pay back to their clients. The crypto was all BS. I tried explaining to mom 3% is impossible. If he earns 3% a day, in an year he will earn so much, he doesn't even need clients. Anyway, super hard to convince retired parents but I've done enough. How do I stop this cheque from being encashed on Monday?

I guess one option is to transfer all the money to another account and let the cheque bounce? At least there will be proper justification for it. Or can we just call the bank and ask them to freeze funds? Or I guess visit bank when it opens tomorrow morning and ask them to assist?

 

[shrewdoc]

Hi folks!
So yesterday some relatives visited my mom along with some 'friend' to explain to my mom about some investment plan (My mom is a retired teacher). The person who visited told something about forex trading using currency swaps and some crypto stuff. Basically, they take the money and return double in 2-3 months. My mom admits she doesn't know much about finance or numbers but since it was relatives, she trusted them. They did confirm their money doubled in 3 months. In the end, these people left home with a cheque for 300k late yesterday evening around 6PM.

Much later at night I came to know about this and my mom had also recorded a bit of their meeting. The guy in question said, they earn 3% a day and they keep aside 0.8% to pay back to their clients. The crypto was all BS. I tried explaining to mom 3% is impossible. If he earns 3% a day, in an year he will earn so much, he doesn't even need clients. Anyway, super hard to convince retired parents but I've done enough. How do I stop this cheque from being encashed on Monday?

I guess one option is to transfer all the money to another account and let the cheque bounce? At least there will be proper justification for it. Or can we just call the bank and ask them to freeze funds? Or I guess visit bank when it opens tomorrow morning and ask them to assist?

There is STOP CHEQUE facility available on almost all IVRs of banks as well as NetBanking and MobileBanking.

 

[SSV]

Hi folks!
So yesterday some relatives visited my mom along with some 'friend' to explain to my mom about some investment plan (My mom is a retired teacher). The person who visited told something about forex trading using currency swaps and some crypto stuff. Basically, they take the money and return double in 2-3 months. My mom admits she doesn't know much about finance or numbers but since it was relatives, she trusted them. They did confirm their money doubled in 3 months. In the end, these people left home with a cheque for 300k late yesterday evening around 6PM.

Much later at night I came to know about this and my mom had also recorded a bit of their meeting. The guy in question said, they earn 3% a day and they keep aside 0.8% to pay back to their clients. The crypto was all BS. I tried explaining to mom 3% is impossible. If he earns 3% a day, in an year he will earn so much, he doesn't even need clients. Anyway, super hard to convince retired parents but I've done enough. How do I stop this cheque from being encashed on Monday?

I guess one option is to transfer all the money to another account and let the cheque bounce? At least there will be proper justification for it. Or can we just call the bank and ask them to freeze funds? Or I guess visit bank when it opens tomorrow morning and ask them to assist?

Which Bank it is?

You can issue Stop Cheque Payment Order to the Bank by visiting Branch or even online as well..

 

[CardCraftsman.]

Hi folks!
So yesterday some relatives visited my mom along with some 'friend' to explain to my mom about some investment plan (My mom is a retired teacher). The person who visited told something about forex trading using currency swaps and some crypto stuff. Basically, they take the money and return double in 2-3 months. My mom admits she doesn't know much about finance or numbers but since it was relatives, she trusted them. They did confirm their money doubled in 3 months. In the end, these people left home with a cheque for 300k late yesterday evening around 6PM.

Much later at night I came to know about this and my mom had also recorded a bit of their meeting. The guy in question said, they earn 3% a day and they keep aside 0.8% to pay back to their clients. The crypto was all BS. I tried explaining to mom 3% is impossible. If he earns 3% a day, in an year he will earn so much, he doesn't even need clients. Anyway, super hard to convince retired parents but I've done enough. How do I stop this cheque from being encashed on Monday?

I guess one option is to transfer all the money to another account and let the cheque bounce? At least there will be proper justification for it. Or can we just call the bank and ask them to freeze funds? Or I guess visit bank when it opens tomorrow morning and ask them to assist?

Lol! Bro. You don't know about stop cheque option?

 

[Vasuki]

Hi folks!
So yesterday some relatives visited my mom along with some 'friend' to explain to my mom about some investment plan (My mom is a retired teacher). The person who visited told something about forex trading using currency swaps and some crypto stuff. Basically, they take the money and return double in 2-3 months. My mom admits she doesn't know much about finance or numbers but since it was relatives, she trusted them. They did confirm their money doubled in 3 months. In the end, these people left home with a cheque for 300k late yesterday evening around 6PM.

Much later at night I came to know about this and my mom had also recorded a bit of their meeting. The guy in question said, they earn 3% a day and they keep aside 0.8% to pay back to their clients. The crypto was all BS. I tried explaining to mom 3% is impossible. If he earns 3% a day, in an year he will earn so much, he doesn't even need clients. Anyway, super hard to convince retired parents but I've done enough. How do I stop this cheque from being encashed on Monday?

I guess one option is to transfer all the money to another account and let the cheque bounce? At least there will be proper justification for it. Or can we just call the bank and ask them to freeze funds? Or I guess visit bank when it opens tomorrow morning and ask them to assist?

Call your bank .. to stop cheque payment.
Visit branch. Ask branch manager to stop cheque payment . Asking product sold dubious.
Go to bank faster to make peace faster .
Go bank first thing monday morning.

Which bank ? Cheque

 

[SSV]

Hi folks!
So yesterday some relatives visited my mom along with some 'friend' to explain to my mom about some investment plan (My mom is a retired teacher). The person who visited told something about forex trading using currency swaps and some crypto stuff. Basically, they take the money and return double in 2-3 months. My mom admits she doesn't know much about finance or numbers but since it was relatives, she trusted them. They did confirm their money doubled in 3 months. In the end, these people left home with a cheque for 300k late yesterday evening around 6PM.

Much later at night I came to know about this and my mom had also recorded a bit of their meeting. The guy in question said, they earn 3% a day and they keep aside 0.8% to pay back to their clients. The crypto was all BS. I tried explaining to mom 3% is impossible. If he earns 3% a day, in an year he will earn so much, he doesn't even need clients. Anyway, super hard to convince retired parents but I've done enough. How do I stop this cheque from being encashed on Monday?

I guess one option is to transfer all the money to another account and let the cheque bounce? At least there will be proper justification for it. Or can we just call the bank and ask them to freeze funds? Or I guess visit bank when it opens tomorrow morning and ask them to assist?

Which Bank it is?

You can issue Stop Cheque Payment Order to the Bank by visiting Branch or even online as well..

For example:
In the case of HDFC:

How to Stop Payment of Cheque at HDFC Bank

Know how to stop payment on a cheque you have issued through NetBanking, PhoneBanking or by visiting a HDFC Bank branch. Follow these simple steps to stop your cheque payment.

www.hdfcbank.com

 

[arjun697]

It’s Federal bank and my mom doesn’t have online banking activated. Or she’s never used it. That’s why they took a cheque instead. I guess I’ll call them and check itself

 

[Vasuki]

For example:
In the case of HDFC:

How to Stop Payment of Cheque at HDFC Bank

Know how to stop payment on a cheque you have issued through NetBanking, PhoneBanking or by visiting a HDFC Bank branch. Follow these simple steps to stop your cheque payment.

www.hdfcbank.com

View attachment 39518

You are R E A L GEM 💎
Sirrr.

 

[arjun697]

Thank you all so much! I can see Federal bank has a stop cheque option through SMS from registered mobile number. I’ll try this itself.

 

[Vasuki]

It’s Federal bank and my mom doesn’t have online banking activated. Or she’s never used it. That’s why they took a cheque instead. I guess I’ll call them and check itself

Ok few things to do .
Either withdraw as much as the cheque get bounced 😁.
For security

Then go to bank early morning.

Call customer care .they will help .
Either to stop cheque or net banking activation. I m assuming u have dc active

 

[arjun697]

Ok few things to do .
Either withdraw as much as the cheque get bounced 😁.
For security

Then go to bank early morning.

Call customer care .they will help .
Either to stop cheque or net banking activation. I m assuming u have dc active

Yes! She has an active debit card. She’s gone out to visit another set of relatives. Once she’s back, will have it all sorted today.

 

[SSV]

You are R E A L GEM 💎
Sirrr.

Thank you for your appreciation ...

In general, people are immediately available to criticise any wrong thing.. .by and large ,this is human nature.
What is equally important is : we need to encourage people by appreciating the good deeds as well, but a very few people do this.. and you are one of them.. good on you..

For some strange reason we don't normally accept others' superiority.. but when we do accept , life will be much simpler and happier.. after all we are all same by birth...

Anyway enough for Sunday.. Happy Sunday everyone ...

PS: Healthy competition is different to accepting and appreciating the facts !!

 

[SSV]

I guess one option is to transfer all the money to another account and let the cheque bounce?

Either withdraw as much as the cheque get bounced 😁.
For security

Even though it looks like more practical thing to safeguard our money.. on techincal grounds it is not advisable.. Why??
The other party can pursue cheque bounce case against the issuer as it is a valid claim on technical grounds..(un necessary legal complications)
I advise you to take the route of "Stop cheque payment order" via mulitple channels.. not just one. ( e.g. SMS and physical visit to the branch by writing a letter and signed by your monther..)

 

[dungeonMaster]

Usse bolo 3% chdo, daily 1% dede or guarantee me uske ghar k kagaz lelo 💀

 

[sousnake]

One advice - whenever someone visits your parents about such plans, tell your parents to redirect them to you saying you handle finances. I have asked my father to do this.

 

[Vasuki]

Even though it looks like more practical thing to safeguard our money.. on techincal grounds it is not advisable.. Why??
The other party can pursue cheque bounce case against the issuer as it is a valid claim on technical grounds..(un necessary legal complications)
I advise you to take the route of "Stop cheque payment order" via mulitple channels.. not just one. ( e.g. SMS and physical visit to the branch by writing a letter and signed by your monther..)

ONLY for today as its bank closed. For money security.
Tomorrow he need to stop cheque before it goes to encash & bounce later on

 

[quino]

these people left home with a cheque for 300k late yesterday evening around 6PM.

yesterday was a working day for banks, so payee could've already submitted the cheque for clearing to his bank already & it's possible the cheque has entered the clearing process.

for now, i suggest you to remove the balance to be on the safe side, and come tomorrow morning i suggest you to wait outside the bank from 9am itself & get the cheque stopped first thing (i don't trust the online stop cheque system). no need to tell any reasons to bank employee for stopping the cheque, its your right to do so.

a single cheque bounce is not at all an issue (happens all the time with banks), especially since your mom didn't owe them money, nor was there any legal contract between the parties, but it'd be nice to be avoided, which is why i suggested the stop cheque through branch too.

 

[Vasuki]

Thank you for your appreciation ...

In general, people are immeditaley available to criticise any wrong thing.. this is human nature..by and large
What is equally important is : we need to encourage people by appreciating the good deeds as well, but a very few people do this.. and you are one of them.. good on you..

For some strange reason we don't normally accept others' superiority.. but when we accept this life will be much happier.. after all we are all same by birth...

Anyway enough for Sunday.. Happy Sunday everyone ...

PS: Healthy competition is different to accepting and appreciating the facts !!

Forgot to add

You are much more valued than icici gemstone card 😁
SSV 💎>>>>>>>>> icici gemstone

Hi folks!
So yesterday some relatives visited my mom along with some 'friend' to explain to my mom about some investment plan (My mom is a retired teacher). The person who visited told something about forex trading using currency swaps and some crypto stuff. Basically, they take the money and return double in 2-3 months. My mom admits she doesn't know much about finance or numbers but since it was relatives, she trusted them. They did confirm their money doubled in 3 months. In the end, these people left home with a cheque for 300k late yesterday evening around 6PM.

Much later at night I came to know about this and my mom had also recorded a bit of their meeting. The guy in question said, they earn 3% a day and they keep aside 0.8% to pay back to their clients. The crypto was all BS. I tried explaining to mom 3% is impossible. If he earns 3% a day, in an year he will earn so much, he doesn't even need clients. Anyway, super hard to convince retired parents but I've done enough. How do I stop this cheque from being encashed on Monday?

I guess one option is to transfer all the money to another account and let the cheque bounce? At least there will be proper justification for it. Or can we just call the bank and ask them to freeze funds? Or I guess visit bank when it opens tomorrow morning and ask them to assist?

Best would be book fd today 😜. For whole amount