Chequebook Request from Bank in UAE

By Sakshi Srivastava - 30 Mar 2022 Last Updated: 17 May 2022
Chequebook Request from Bank in UAE

A cheque is a valuable financial tool that helps to eliminate the use of physical cash. At the time of account establishment, every bank account holder is given a checkbook. The number of cheques in a bank's cheque book used to be 25, but the UAE Central Bank decreased it to ten. These rules about limited checks do not apply to all consumers. Customers with a solid credit history can acquire a cheque book with 25 leaves.

In addition, depending on the bank, corporation accounts may receive extra cheques in the book.

  • A checkbook is a compact book that contains preprinted paper with information about the customer's checking account.
  • Checks in a checkbook are given to a seller in payment for goods or services, acting as a bill of trade.
  • When a check is received, it is deposited in the receiver's account, and the funds are transferred to the payee's account once the check has cleared.
  • Checkbooks have become outdated as a result of the introduction of credit cards, online banking, and smartphone apps.

How A ChequeBook Works

A checkbook is a collection of checks that can be used to make purchases, pay bills, or pay for anything else that necessitates payment. More consumers are making purchases and paying bills online as a result of the development of internet commerce and banking, reducing or eliminating the necessity for paper checkbooks.

Checkbooks typically feature a specified number of numbered checks as well as a register where users can keep track of check information and account balance statements. A consumer must fill out particular information on the check and then sign it before it is handed over in exchange for products or services or any money. The date, the name of the individual or firm, and the address are all required fields.

A Chequebook as an Example

Bob went to the bank in his neighborhood and opened a checking account. He put a AED 3000 first contribution into the account. Bob was given a checkbook with 100 checks that he can use to pay for goods or services with funds from the account. The payee must deposit the check into their own bank account after Bob fills out the cheque with the payee's details. Bob's bank will be contacted by the receiving bank to confirm that funds are available and to clear the check. Bob's bank account will be debited, and the funds will be credited to the payee's account. Bob can then balance his checkbook on the given register by writing in the amount he paid for the good or service, and then signing the register.

Obtaining a Cheque Book from a Bank

Despite the fact that the use of cheques has decreased as credit cards and debit cards have become more common, a significant percentage of people still utilize cheques for larger transactions. The first cheque book is usually provided free of charge by most banks, and subsequent cheque books must be sought for at the bank or by other ways.

Cheque books can be ordered in a variety of ways, including:

Banks Accept Applications

The primary and most common method of obtaining a cheque book in the UAE is to go to a bank. A check book request letter can be presented to the bank by the account holder. The account holder's name, account number, and mobile number must all be included in the letter.

Banks also provide a counterfoil, which must be supplied when ordering a new chequebook. The account number, name, and address are all listed on the counterfoil. Any other individual listed on the counterfoil can also receive the cheque book.

ATM

Some banks offer the option of requesting a new check book from an ATM. Follow the steps below to access your bank's ATM.

  • Take the card and swipe it.
  • Fill in the PIN code.
  • You can request a new chequebook under "Other Services" under the "Other Services" section.
  • You can choose how many leaves you want in the book.

The check book will be sent to your account's registered address through postal mail. However, not all banks allow you to request a cheque book through an ATM.

Online Banking

Aside from going to the bank, this is one of the most common methods for getting a new checkbook.

  • Log in to your Online Banking account.
  • Go to the services area of the website.
  • Locate and select the "New cheque book request" option.
  • You can be asked how many leaves are required in the book.
  • Fill in the blanks with the relevant information.

The check book will be sent to your account's registered address through postal mail. This service is only available to customers who have registered for mobile banking or internet banking.

Mobile Banking

At several banks in the UAE, Cheque Book requests can also be made through Phone Banking. Request a new chequebook from your bank's customer service department. They may need to double-check your account information before proceeding with the request.

Conclusion

Cheques take a long time to clear, taking at least 2-4 business days. A transaction using a cheque does not incur any processing costs, unlike debit or credit cards. In the case of a certain form of unsecured loan, cheques also serve as security. Cheque users, on the other hand, must be cautious about cheques bouncing.

Open business bank account online in Dubai, UAE. Compare and apply for business bank account from leading banks with Dhanguard.

By Sakshi Srivastava

30-Mar, 2022

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