Making credit card payments on time every month is one of the most important things that the cardholder needs to take care of. To ensure that cardholders do not miss out paying the credit card dues on the due date, banks provide cardholders a variety of payments modes. The payment modes provided by banks and financial institutions to cardholders include net banking, debit cards, NEFT/IMPS, cheques/demand drafts, through SMS, through bank branches, through post and other online portals. Here, we take a look at how cardholders can make credit card bill payments through cheques:
To make credit card bill payment using cheque, a cardholder needs to write a cheque favouring the credit card and deposit it in the drop box or a cheque payment machine. The drop-box or the cheque payment machine can be located at the bank’s branches and ATMs that exist in the country.
Making credit card bill payment through cheques is laced with certain advantages. Some of them are listed below:
Just like advantages, making credit card bill payment through cheque has certain disadvantages as well. Listed below are some of them:
Most of the top banks that operate in the country accept credit card bill payment through cheques. To name a few are - State Bank of India, Axis bank, ICICI bank, HDFC bank, IndusInd Bank, Kotak Mahindra bank etc.
To pay SBI credit card outstanding through cheque, the cardholder can drop your cheque at any of the 1,300+ drop boxes across the country. Prior to doing that, the credit cardholder needs to fill the payee name as ‘SBI Credit Card (16-digit credit card number)’ and put in other details like payment amount, date and signature clearly on the cheque. Moreover, the cardholder must write his/her name and the mobile number on the back of the cheque. The time taken for the payment to be reflected in the SBI card account varies for Metro and non-Metro locations. While metro locations are usually processed within 4 working days, non-Metro locations take around 6 days.
The process of paying credit card bills through cheques is similar for all other banks as well. However, the time taken for the payment to be reflected varies from bank to bank.
The period taken by other banks apart from SBI, the largest public sector bank are listed below:
The payment cheque can be dropped at the cheque drop-box locations available at the bank branches and ATMs.
The number of days varies depending on the bank. Ideally it is better to drop the cheque five days prior to the due date.
Yes, SBI charges a fee of Rs.100 for all credit card payment made through cheques that is less than or equal to Rs.2,000/-. However, if the amount is in excess of Rs.2,000/- there is no charge.
The individual needs to write the name of the bank from where the credit card is availed followed by the card number. For e.g ‘SBI Credit card XXXXXXXXXXXXXXXX’
No, it is not the same. While some banks reflect the payment within 1 day others can take upto 7 days. It depends on the respective banks which allow credit card payments to be made through cheques.
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