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Home » ICICI Bank » Stop Payment

Request Stop Payment on a Cheque

ICICI Bank is the second largest bank in India. In terms of market capitalization it is considered the most valuable bank in India. ICICI Bank also stands on third position amongst all the companies listed on the Indian Stock Exchange in terms of free float market capitalization. With a network of about 950 branches and 3300 ATMs in India the working of the bank is almost flawless. The features of the Bank allow you to request stop payment on a cheque.

The contract between the customer and the bank is defined as a debtor- creditor relationship. This contract requires the bank to honor all valid and proper orders of the customer to pay amounts from his account with the bank, for as long as funds remain available in the customer's account. So if you want to request stop payment on a cheque for any reason, you may do so. A customer has a right to give notice to his Bankers to request stop payment on a cheque that has been issued. Generally a written notice, signed by the drawer is sufficient to stop the payment. A stopped payment is usually requested if the cheque has been declared missing or lost.



Under the present theme, the sole question which will be scrutinized in the paper is whether a drawer who stops the payment having insufficient funds in his account can be held liable under Section 138 of the Negotiable Instruments Act? In this regard various judgments of High Courts and the Supreme Court have been reviewed in order to find out a solution to the abovementioned issue. However a request stop payment on a cheque in ICICI Bank requires the customer to select the account from which payment needs to be stopped and request stop payment on a cheque. First have a look whether the account is a primary or a non-primary account and then provide the cheque number. In case the account is non-primary the last 6 digits of the account number will also be required.

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