Instructions to be followed while depositing money in the bank:

From the educated to the uneducated, we ask someone at the bank to deposit or withdraw money without knowing the procedures. Doubts arise as to which is the correct counter, how to write in Challan (Payment Form) and how to calculate and fill in Denomination (Rupee). To deposit money in the bank without any such doubts, you have to simply follow the below given steps. Let’s see what they are…

1. To deposit our money in the bank, we have to ask the bank staff for a separate Cash Counter and stand in a line.

2. Ask Challan from the bank to deposit the money and fill in the required details.

3. In the Deposit Challan, you have to tick exactly which of the SB Account, Loan Account, RD Account you are going to deposit the money in.

4. The date of the deposit in the Challan, the account number of the account to be deposited, the name of the account, the telephone number of the payer, the amount to be deposited should be duly filled in words and numbers and then signed.

5. Denomination Section is the most important part of the Challan. Divide the total amount paid by the bank in denomination into identical rupee notes and retail currency and fill in its number separately.

6. For example, if the depositor of Rs.5,000/- has 10 Rs.500 notes, he should write 500x10 in the Denomination area. As well as if you have 10 Rs.500 notes at the time of depositing Rs.4,950/-, you have to write 500x10 in the Denomination area.

7. The Counter file (left side of the form) in the Deposit Challan, will be stamped by the bank and returned to the customer. So while filling the counter file in Challan, you have to fill in all the details very carefully.

8. Customers are required to keep the counter file secure as a witness to the deposit of the money.

9. If you make a mistake while filling the Challan, correct it immediately and put your signature next to it.

10. If you want to deposit money in different accounts at the same time, you have to fill the Challan separately for everything. Also the correct amount must be filled in the Denomination.

11. Customers no need come in person and deposit their money.Anyone can deposit their money.

12. You can deposit money at any branch of the bank where you have an Account.

13. More than Rs.50,000/- can be deposited only if the PAN Card is linked to the bank account. Otherwise, only Rs.49,999/- can be deposited.

14. While depositing money, the notes should be arranged separately by their value and stacked in order. When the number of rupee notes is more than 100, it should be stacked uniformly on the front and tied with a rubber band or thread.

15. Thus money can be counted fast and easily in a cash counting machine only if the bank notes are tied up properly.

16. You should carefully monitor the cash counting machine while counting the money. If something goes wrong you can fix it on the spot only if you pay close attention.

17. Upto Rs.25,000/- will be credited in the account immediately. But if the deposit amount exceeds Rs.25,000/-, then it will be credited to the account only after verifying all the details by the cashier and another bank officer.

18. While depositing more than R.25,000/- ,it gets delayed by 10 to 20 minutes as the cashier and other Officer has to verify all the details. So the customer has to make sure that their account has been credited .

19. If there is any complaint regarding the transaction after the money has been deposited, the error in the transaction can be rectified only if it is reported to the bank on the same day. Even the next day the error cannot be corrected.

20. When depositing a large amount( for example more than 10 lakhs) contacting the bank manager will facilitate the quick deposit of the money.

21. If the denomination is as high as retail rupee notes and coins in the payment amount then the cashier should not be compelled to immediately count and credit the full amount when there is a crowd.

22. While depositing money do not distract the cashier by asking for other details or doubts. You can clarify your doubts by approaching the respective Counter.

If all the above steps are followed, unnecessary trouble and controversy can be avoided. Every mistake we make not only wastes our time but also the time of people who are standing behind us in line. While making a payment,customers can follow the given instructions and make a quick payment