Banks have been making cash payment of such cheques to the person who presented it at the counter without any hassle. Many people question the validity of such refusal by the bank when a bearer cheque ‘payable to ourselves’ is presented for payment.The above discussion rather seems like an argument based on English grammar and not on legal finding. In that case, EPF members need to submit bank passbook copy. The bank by convention may also insist the presenter to write his name, address and phone number whenever a new face presents the cheque for payment.As per law a bearer cheque is always a bearer cheque. Thus, the cash payment can be made to the bearer of the cheque irrespective of payee’s name.Usually, the persons coming to the bank for cash withdrawals on behalf an entity are known to the bank (regular employee, partner etc.). For reprint rights: EPF withdrawal: Step-by-step guide to withdraw money onlineLabour Ministry allows EPF withdrawal amid lockdownEPF withdrawal due to coronavirus: 20 questions answered by EPFO5 reasons for rejection of EPF withdrawal claim and how to avoid itEPF withdrawal: How to check, change bank account details in your EPF accountAlso advise how to protect your EPF amount from online frauds.I am facing lot of problems wile withdrawing epfo amount like some time otp not receiving also my father date of birth is wrong in epfo portal he has many time visited in epfo office but no solution has been given also I try to add date of birth online by uploading adhar card but epfo site not accepting my father adhar card and also I try second time for my pf that time my bank account does not verify by epfo portal while my kyc has been already done before and third time while I trying a new error has come that my bank account link with other uan no but I have work only one company there is no chance that my bank account link with other uan no and I also check active uan no option on epfo portal epfo portal tell that I have only one uan no active instead of this error is coming and also some of my friends facing this problem please make an article on this type of problemPlease advise on interest earned on epf amount ie, am jobless since 3 years, and am 53 years of age. Generally a bearer cheque can be paid in cash only at the base branch where the account belongs or the drawer himself can withdraw it from any branch he wishes that too restrictions apply from bank to bank. Your experience from a particular public sector bank branch may be bad, but it is a wrong notion to conclude that all PSBs are bad in service and all private banks are good in service. Login to your account and click the silhouette icon at the top of the page. Legally speaking banks are bound to pay to any person who presents a bearer cheque for payment at the bank counter, if the cheque presented is otherwise in order. Till when will my epf account earn interest 2. If yes, then is payment to agent of account holder will be considered as third party payment or not? The payment cashier will ask for another signature to be made by the presenter at the time of payment. Though it is not a rule prescribed by any law for payment of bearer cheque, as an abundant precaution cash payment of a cheque drawn up in favour of firms and companies is done only on obtention of endorsement (rubber stamp of the firm on the reverse of the cheque and signed by the authorised signatory of the beneficiary firm).If the depositor is unable to write, he/she must call on the Bank personally to withdraw money from her/his account. The logic for such refusal is that an entity whether the firm, company or any other organization is a legal person (entity) opened the account and not a group of people. Choose the Cheque By Courier withdrawal method.
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