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Dear Client,
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Thank you for your continued banking relationship with Standard Chartered Bank ("SCB").
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We take this opportunity to apprise you of the actions in relation to
accounts with cheque
facility, in the event of frequent dishonour of cheques. We are making the
following
amendments (changes) in terms & conditions, applicable to your banking relationship with us, to address instances of frequent
dishonour of cheques.
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The following table states the impact on your bank account w.r.t. frequent
cheque returns:
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Cheque value
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Number of Cheques/NACH/ECS
returned due to insufficient funds
in account
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Impact on SCB
bank account
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₹1 Crore & above
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Four (4) cheque returns
in a financial year*
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Stoppage of cheque
book issuance
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₹1 Crore & above
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Twenty-Five (25) cheque
returns in a financial year*
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Account closure with
30 days notification
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Below ₹1 Crore
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Twelve (12) cheque returns
in preceding twelve (12) months
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Stoppage of cheque
book issuance
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*Financial year - 1 year period starting from 1 April and ending on 31
March.
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Considering the above, we urge you to kindly maintain sufficient balance in
your account
before issuing any cheques, to avoid any inconvenience. We would request
you to bring
the contents of this email to the attention of any other joint-name account
holder(s).
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Please note that the terms & conditions related to frequent dishonouring of
cheques
would be effective from 1 July 2022 .
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Note: Cheque Book facility will be provided to the
customer for making
withdrawals of funds/payments from the account.
Cheque Book facility will be provided at the discretion of SCB and may be
withdrawn if the facility is not used by the
customer in accordance with SCB’s terms & conditions, applicable to your
banking relationship with us, for providing the
facility. In this regard, particular mention is made of SCB’s right to
withdraw the Cheque Book facility if cheques issued by
the customer on the account are frequently dishonoured due to insufficient
funds maintained in the account. Frequent
dishonour of cheques issued on the account due to insufficient funds may
also result in closure of the account by SCB, with
prior intimation of at least 30 days through letter/email or other means
suitable to SCB (at the registered address/email ID).
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Should you require any clarifications or assistance in this regard, please
call us at our
Phone Banking numbers, speak to your RM, or write to us at
customer.care@sc.com.
Please visit https://www.sc.com/in/contact-us/ for further
details.
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Assuring you of our best services always.
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Yours sincerely,
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Standard Chartered Bank
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(This is a computer-generated email and does not require a signature)
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