Looking to deposit cheque in SBI? If so, you are in the right place. A bank cheque is an important document that directs the bank to pay a certain amount from one’s account to another account. When the cheque is deposited in another person’s bank account, you need to mention the beneficiary’s name on the cheque. Do you know how to deposit cheque in SBI Bank? The procedure to deposit SBI Cheque is quite simple. Performing transactions through a cheque is one of the highly reliable and trustworthy ways to pay a certain amount to an individual or an organization. Mostly, people who are in any of the business sectors often carry out their cash transactions cheques. If you are not fully aware of the detailed procedure for How To Deposit Cheque In SBI, just go through this in-depth guide. Take a look!
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How To Deposit Cheque In SBI
Wondering How To Deposit Cheque In SBI Bank? An SBI Cheque Deposit procedure is quite simple for the account holders. State Bank of India is one of the largest public sector banks in the country that deliver exceptional banking services and financial products to its customers. One of the noteworthy products offered by SBI is a cheque. Using a cheque, the customers can easily make cash transactions from one account to another account.
Usually, business people require SBI Cheque Deposit to carry out their business transactions on a daily basis. Also, the State Bank of India has increased the non-home cash withdrawal limit, especially for withdrawal forms and bank cheques. This increase in the cash withdrawal limit for cheques helps the customers to transfer or send more amounts from their account to another account. Hence, most people prefer using a cheque for cash transactions.
Using two different methods, SBI bank customers can deposit a cheque in the bank. One is by visiting the nearest bank branch of SBI and the second method is to deposit a check through CDM Machine. Go through the detailed guide that explains How To Deposit Cheque In SBI in two ways. Read on!
1. Deposit A Cheque In SBI By Visiting Nearest Branch
If you are seeking to deposit an SBI cheque issued by some business people or specific individuals, you can visit the nearest bank branch in your region. Before heading out to the nearest bank branch of SBI to deposit a cheque in SBI, you need to keep a few details handy. Make sure you have your SBI account number, branch name, and other crucial details. Follow the simple steps furnished below to deposit SBI Cheque by visiting the nearby SBI branch.
- First of all, go to the nearest SBI bank branch in your region.
- Visit the branch wherein you have your SBI bank account.
- After visiting the bank branch, you need to navigate to the helpdesk and request an SBI Cheque Deposit Slip.
- You need to fill SBI Cheque with vital details such as the SBI bank account number, cheque number, name of the cheque issuing bank, name of the bank branch, and more.
- In case, the cheque amount is above Rs. 50000, you must mention your PAN Card details.
- You need to attach this SBI Cheque Deposit Slip to your bank cheque.
- Submit them at the respective counter in the bank branch.
The corresponding bank executive will check whether the cheque is valid or not. Once they find that the cheque is valid then, the amount mentioned in the cheque slip will be credited to your 11-digit SBI bank account number on the same day.
That’s all! This is the easy procedure to understand How To Deposit Cheque In SBI Bank by visiting the nearest bank branch.
2. Deposit Check in SBI Via CDM Machine
Want to know How to Deposit Cheque in SBI? In the first method, we have seen the easy method to deposit a cheque in the bank by visiting the nearest bank branch. Now, we have explained the second method to deposit a check in SBI through the CDM machine. CDM is an acronym for Cash Deposit Machine. It is a cheque-collecting machine that appears quite identical to ATM. State Bank of India has designed and rolled out this CDM machine to help its customers whilst depositing a cheque in the bank. Follow the simple steps curated below to understand how to deposit a cheque in SBI through the CDM machine.
- First of all, visit the nearest location that comprises an SBI Cash Deposit Machine.
- After reaching the place where you have the CDM, you need to place your SBI Debit/ATM Card in the machine.
- Type your SBI Debit Card PIN.
- After the PIN verification, you will find some options on the CDM screen.
- From the available options, choose the option ‘Cheque Deposit’.
- The cheque that you are seeking to deposit in the bank must be in a clean and neat position.
- Straighten the cheque without having any folds or corner folds. Place the cheque in the corresponding slot.
- Soon after placing the cheque in the given slot, the picture of the same will be shown on the screen.
- After the cheque scan is done, you need to tap on the option ‘Confirm’.
- Further, you will get a printed copy of the cheque receipt comprising the cheque number.
- After verifying the details, you can exit from the Cash Deposit Machine.
That’s all! This is the easy procedure to SBI Cheque Deposit in SBI bank through CDM machine.
SBI Cheque Deposit FAQs
If you have any queries or doubts regarding the SBI Cheque Deposit Slip PDF process, just go through the FAQs given below. We have mentioned the frequently asked questions alongside precise answers regarding the SBI Cheque Deposit in this post. Read on!
How Much Time Does It Take To Clear Cheque In SBI?
When you deposit cheques either in branch counters or in the drop-box within the specified time then, such cheques will be cleared on the same day. Overall, the clearance time for the cheque is 1 working day. If the cheques are deposited in any of the places after the specified time then, those cheques will be sent for clearance on the next day.
Can I Deposit Cheque In Any SBI Branch?
Yes, you can deposit a cheque in any SBI branch. However, you need to check whether there are two separate sections in the cheque dropbox i.e., one is for the local cheques and the other section is for outstation cheques.
Can I Deposit Cheque In SBI Via Online?
SBI doesn't provide an online procedure to deposit a cheque into SBI bank.
How Can I Clear Cheque On The Same Day?
If you want to clear the cheque on the same day then, you must deposit the cheque in the drop-box present in the surrounding area of the bank branch. Make sure that you deposit the cheque before the specified time. This way you can clear a cheque on the same day.
Well, these are the two simple methods to learn How To Deposit Cheque In SBI. We hope this article has helped you to understand the easy procedure to deposit the cheque by filling an SBI Cheque Deposit Slip. If you still have any doubts about this topic, don’t hesitate to ask us in the comments section. For more related articles or posts on SBI banking services, do visit our website MoneyCompass frequently.