How to Write a Self-Cheque to Withdraw Money Easily?

• A self-cheque or self-withdrawal cheque is a cheque you write to yourself.
• It is used to withdraw cash or transfer money to another account of yours.
• While writing a self-withdrawal cheque, make sure to write the amount to be withdrawn or transferred correctly.
• You authorise the bank to execute the transaction by signing the self-withdrawal cheque.

Today, online and digital methods are the popular mode of money transfers. However, as an account holder, it is important to know the traditional ways of transacting as well. They can be of use when your internet connectivity is poor, or there are any technical issues.One such method is withdrawing money through a self-cheque for making payments. Through this blog, you will learn what a self-cheque is and how you can write it. Besides, you will also gain an understanding of the things that you should be aware of while writing this cheque.

You can write a self-cheque or self-withdrawal cheque to withdraw cash from your account or to transfer funds from one account to another, both being in your name. In simple words, you write this cheque to yourself to withdraw and transfer funds.

The process of writing a self-cheque is straightforward and shouldn’t take much of your time. Follow these steps to issue a cheque correctly: Step 1 - Mention the Date

• You can start writing a self-cheque by mentioning the date in the designated space, which is at the top-right corner. Write the date in the DD/MM/YYYY format.
• When you mention the date, the cheque must be used within three months. This is because a cheque is usually valid for three months from the date of issue.

Step 2 - Mention Your Name

• In front of ‘Pay’ or ‘Pay to the Order of’, mention your name; this indicates it is a self-cheque and the payment is to be made to you.
• Make sure to write your name as it appears on your bank account, to facilitate a seamless withdrawal or fund transfer. Alternatively, you can also write ‘Self’ in this field.

Step 3 - Write the Amount in Numbers

• You will see a box in front of the ‘₹’ symbol, where you need to write the amount you want to transfer or withdraw in figures.
• An extra zero can make a lot of difference; thus, mention the amount correctly.

Step 4 - Write the Amount in Words

• Just below the ‘Pay’ or ‘Pay to the Order of’ field, you will see the ‘Rupees’ field. Here you need to write down the amount in words.
• The amount written in numbers and figures should tally. This serves as a security measure to prevent any alterations.
• For example, if you have written ₹5,000 in the box mentioned in Step 3, you need to mention it in words as ‘Five Thousand Rupees Only’.

Step 5 - Sign the Cheque

• Sign in the allocated place which appears at the right-bottom of the self-cheque. Your signature should match with the bank record.
• Signing the cheque authorises the bank to execute the transaction.

Note : If you are issuing a self-cheque to transfer funds to another account of yours, cross the cheque by drawing two parallel lines on the top-left corner. Next, write the words ‘A/C Payee’ between the lines. You need to fill in the deposit slip and deposit it along with the cheque to your designated bank.

You should exercise caution each time you write a self-withdrawal cheque to prevent any kind of misuse. Here are a few things to keep in your mind:

• Keep your chequebook safe and don’t leave blank cheques anywhere. They can be misused if in the wrong hands.
• Write your self-cheque with a pen having indelible ink to prevent tampering.
• Check all details for accuracy before signing the self-withdrawal cheque.
• You might have seen the index section in your chequebook. Write details of all cheques issued, including the self-withdrawal cheque. This helps to track your payments and ensure they are all authorised by you.

There are several uses of a self-withdrawal cheque. You can use the cash withdrawn to pay different merchants and meet your daily expenses. Furthermore, you can transfer the funds to another account of yours to ensure you have sufficient balance to pay your account-linked EMIs.EMIs give you the flexibility to pay your loans or other credit over a specified period without impacting your monthly budgets. This is especially true for personal loans that offers a flexible repayment option. Also Read: What is a Cheque Leaf? Types, Features, Pros, Cons & More