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Mistake in payee's name...Please Help!!
The bank had made me a DD with payee's name as The Secretery, The Institute Of Chartered Accounts Of India, instead of Accountants of India. I dont know what to do? . Will it be an issue for clearing?. This DD is for my registeration.
Replies (2)
Go back to your bank and get the name changed. Otherwise it will not be cleared and returned back to you by the Institute.
Usually, before leaving the branch you must ensure that the Banker has keyed the correct letters as filled by you in the Demand Draft Form and if there are any mistakes ask them to correct / amend the Demand Draft then and there itself.
I have observed some banks have issue in terms of Characters to be printed on the Demand Draft leaf. with such limitations, the Demand Drafts at the favoring branches are accepted as it is issued to the Institute.
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