At the time of account opening, you are asking for a cancelled cheque (original cheque with Cancelled written across). Why do you need this?
One of the important regulatory roles that we perform as an online service is to make sure that the bank account of a customer is in their name. A cheque with pre-printed name, or a cheque without name plus an account statement are what we use to do so. Given the importance of this detail, we feel it would be unwise of us to compromise on this request and accept alternatives. In future, if you want to add or change a bank account, we will ask for similar information. We feel that doing this would be important to protect the sanctity of online transactions done through us.
Related Questions
- If I apply for opening a fixed deposit by providing a cheque during the promotion period but the FD account gets opened only after the promotion period. Will I still be eligible for the offer?
- What amount shall be invested out of the contribution made at the time of NPS Tier I Account Opening and at the time of making subsequent contribution?
- Can the account be cancelled any time?
