What is initial payment Cheque?

It’s an account opening process. Your not paying here anything to the bank, it’s a Initial payment where money will be deposited in your account once the account is activated.

Do you have to pay Cheques into your own bank?

Many banks in the UK allow you to pay in cash and cheques at Post Office branches for free. As they’ll need to send the cheque to your bank, it could take a little longer for it to be paid into your account.

What is the meaning of initial payment?

Initial Payment means the consideration specified as the “Initial Payment” in the applicable Purchase Agreement. The Initial Payment will include a specified dollar amount of cash and the Excess Distribution Certificate.

What’s an initial payment?

The initial payment is essentially a deposit that you put down at the start of your contract. Traditionally, it used to be a number of monthly payments up to 12 months. But in recent years it’s become more common to just put down a cash amount.

What is the minimum balance to open HDFC account?

The minimum balance required to open a Regular Savings Account in HDFC Bank is Rs. 10,000 for metro Urban branches Rs. 5,000 For Semi Urban branches Rs. 2,500 for Rural branches is required to open a Savings Regular Account.

Can anyone pay in a cheque?

A cheque is a written document that instructs a bank or building society to pay a person or an organisation using funds from a current or company account. It can be for any amount. But there must be enough money in the account for it to clear and payment to go through.

Can you pay a cheque into any bank?

Can I pay in cheques from other banks using my BMB app? Yes. You can pay in most cheques from UK banks, but some issuing banks don’t allow photo cheque clearing. If you try and pay in a cheque from one of those banks, you’ll get a message telling you to take the cheque to a branch to pay it in.