My bank account got frozen due to KYC issues and is no more accepting credit of funds, debit is allowed. What will happen to the dividends that I receive from the equities I hold?
consider that I do not have any other bank account to link and it’ll take me about a month to open new account or unfreeze the last one.
My first question to you is where aee you living which is taking you around a month to open a new account.
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Hi @shubham619
If the credit to the bank account bounces, Company’s RTA generally sends the cheque to the investor’s registered postal address.
Is it compulsory that they do it always like this? We’re checking…will get back to you on this once confirmed
My’s all properties on my post code 281121, I’m want my all setalment my own my post code country India state Uttarpardesh, city Mathura Vrindavan 281121, please my post code on my What’s my DM name, number details etc send
I have an update on this issue, I opened a new bank account and linked it to my trading account.
But after the record date of TCS dividend, now TCS has sent me two cheques for the dividends but the problem is that, that these cheques are account payable and have my old account number mentioned on them, so they are worthless.
What should be my next steps in this case as I can’t get my old bank account back?
Contact TCS’S RTA
Well this is strange. In any kind of freeze generally debit is not allowed and credit continues. If the RTA helps you then well and good otherwise fix the issue at the bank. Banking is a necessity thing, and a bank account can’t go close like his even if it made certain violations. Your account will definitely be recovered. Complain the upper department if needed.
can anyone tell what happen ? why does account number is mentioned in cheque ?
Account number is mentioned for smoother payment to the right receiver or beneficiary otherwise any person with the same name in any bank can redeem the cheque.
The process is that at the time of dropping the cheque one has to fill the deposit slip on which they himself write the (any) account number. So to tackle the mis-credit, account number is written on the cheque.