Axis bank Home loan account
Bounce charges twice

Hi

Loan account:

I am paying my instalment of home loan to AXIS BANK every month since last 2 years through ABN AMRO cheques. Last month when my ABN cheque went to AXIS bank for clearence they bounced it saying that signature is not matching and deducted charges for cheque bounce.

Till this time it was fine, i am ready to pay the charges if my signature is not matching because it is my fault (I have not seen my cheque and signatures till yet though). So i submitted the cash of my instalment amount in lieu of that cheque bounce direct to AXIS BANK.

But the problem arose when AXIS BANK again presented the same cheque for clearence, which was again bounced due to same reason of signature not matching with bank charges again deducted.

I know and understand that bank has to present the cheque twice but that is the case if the cheque was bounced first time due to the reason of insufficient funds, thinking that may be till next time customer submit the necessary funds.

But can somebody explain me that if the cheque has been bounced for the first time due to signature mismatching, how could the same cheque will clear the second time. Obviously that cheque is bound to be bounced beacuse god will not come on earth and make corrections in the signature before presenting it for the second time.

And again the second time also bank charges have been deducted.

I request the bank to please look into this and refund the charges they have taken second time because the cheque bounced due to signature difference cannot be submitted for the second time for clearence.

Also can you please send that bounced cheque back to my address so that i can see my signatures and stop submitting the same cheque again and again to take bank charges from my account.

I know that banks are going through bad credit crunch situations but that does not means that they should do illegal things to get money from customers.

If this is the policy then Banks should change the policy for the cheque bounce due to signature mismatch because no-one in this world can clear that particular cheque no matter how many times bank submit it.

But yes if banks want to make money they can present it as many times as they want. Good job done guys...

Thanks for reading.

Puneet Pal Singh