What is Banker Cheque?

Bank cheque is the cheque which is written by bank for you. It means, bank has to give the money to you. How is it possible. Yes, it is possible

Possibility : When your RD account has deactivated for not paying installment for 3 Months. At that time bank will close your same RD and keep same money in his pocket with the name of deactivated account. Now, it will not show in your bank statement or bank's App. Still this liability of bank but it will not transfer automatically in my saving account because of breaking bank's rules.

My Case Study :

One year ago, I opened my RD account in SBI but due to some reason after 3rd installment, I could not pay Rs. 1500 per month in same RD. After one year, I have checked my RD notebook which I keep physical to record manually of my RD. I see Rs. 4500 in account no. XXXXXXXXXX but when I checked Yono app of SBI, I did not see this amount.So, I went bank and told same amount which is not showing in my RD bank statement. Branch manager has checked and told me that your this RD account has deactivated and kept same money in bank's own pocket. I told, I have earned and I have deposit. This is my asset not bank's asset. So, branch bank manager has given me banker cheque on my name and I deposited it in my bank account like deposit of cash. Within few second it is showing in my bank detail

Demo : Following is my banker cheque image

Conclusion :

1. If you will not pay your RD installment, your RD account will deactivated

2. Bank will keep your same deposited RD money in its pocket

3. Same RD account will not show in your online bank statement after deactivated. 

4. You must keep accounting record of your  every RD account manually. So, that  you can claim for same money as owner of same money.

5. Request bank to write banker cheque for you.

6. Bank will write banker cheque and fill the receipt and add it in your saving bank account.