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25-Dec-2019 12:53

We're currently making improvements to our Online Banking service.

If you registered for Online Banking prior to the 17th December 2014 it's not possible for you to activate your existing Secure Key and you will need to re-start your registration.

This is because all UK banks and building societies must meet the requirements of a cheque clearing process. If the cheque bounces, those funds will be debited.

T 6 is the final day that your cheque could bounce. Please bear in mind our end-of-day processing means that any cheque reversal transactions may not be visible on your account until the start of the next day.

" It is well-known today that S.138 has been a highly litigious provision in the banking law circuit.

With specific regard to bouncing of post-dated cheques, yet another case has created flutters among the legal circuit very recently, i.e. Shri Rajendra Bhagchand Warma (herein after called the ‘Warma case’).

We apologise for any inconvenience which this delay may cause.

Although there is no provision in the Act specifically allowing post-dated cheques, like S.17(2) of the English Bill of Exchange Act, 1882, there is nothing forbidding them and para 2 of S.5 contemplate (as indeed it must) the making of a bill of exchange at a future date.

The cheque as drawn therefore is a cheque in proper form and therefore, a bill of exchange within the meaning of the Act .

CURRENT DEBATE ON BOUNCING OF POST-DATED CHEQUES The provision regarding bouncing of cheques is provided in S.

138 of the Act which says:- Where any cheque drawn by a person on an account maintained by him with a banker for payment of any amount of money to another person from out of that account for the discharge, in whole or in part, of any debt or other liability, is returned by the bank unpaid, either because of the amount of money standing to the credit of that account is insufficient to honour the cheque or that it exceeds the amount arranged to be paid from that account by an agreement made with that bank, such person shall be deemed to have committed an offence and….

We apologise for any inconvenience which this delay may cause.

Although there is no provision in the Act specifically allowing post-dated cheques, like S.17(2) of the English Bill of Exchange Act, 1882, there is nothing forbidding them and para 2 of S.5 contemplate (as indeed it must) the making of a bill of exchange at a future date.

The cheque as drawn therefore is a cheque in proper form and therefore, a bill of exchange within the meaning of the Act .

CURRENT DEBATE ON BOUNCING OF POST-DATED CHEQUES The provision regarding bouncing of cheques is provided in S.

138 of the Act which says:- Where any cheque drawn by a person on an account maintained by him with a banker for payment of any amount of money to another person from out of that account for the discharge, in whole or in part, of any debt or other liability, is returned by the bank unpaid, either because of the amount of money standing to the credit of that account is insufficient to honour the cheque or that it exceeds the amount arranged to be paid from that account by an agreement made with that bank, such person shall be deemed to have committed an offence and….

Once you are registered, we look forward to introducing you to Online Banking, including the exciting enhancements we're working on now.