Okay, this is not anywhere related to fitness. But since however majority of my audience/readership consists of people in their late teens or who are pretty young, I feel I should help them in all aspects of life rather than just fitness alone.
One of the major things I have noticed while accepting payments is that people do not know even basic stuff such as depositing cash in a bank account. Not your problem folks. If only schools taught us stuff which we will use in real life like doing our taxes, telling us about various kinds of taxes, filling up pay-in slips, and other life skills it would have been much better than telling us that mitochondria is power house of the cell. I mean ffs, this stuff should be taught in no later than people are in 10th class to make them ready for what lies ahead in life. Isn't that what school is for?
More of my rant on education system later on.
Now firstly what you need to know is that you do not need to have a bank account in the same bank, or any bank account whatsoever to make a cash deposit into anyone's account. Anyone can walk up to the bank counter, at any branch of that bank anywhere in the world and ask them for a "Pay In Slip"
PS- if you don't have a bank account, get one as soon as you can if you are 18+. If you don't, then you will regret badly when someday some earning opportunities open up and they ask for a bank account. If you are under 18, ask your parents to open a Minor/Juvenile account for you.
Now here is what a pay in slip looks like. I have filled it already supposing you wish to make a cash deposit of Ten Thousand Rupees in my account.
All you need to know is My Name (Nipun haha) , my Bank Account Number (307602010068491), and the Base Branch where my account is (Shahdara).
Here are a few random notes about a pay-in slip and cash deposits what you need to remember:
* I repeat, you don't need any bank account whatsoever do it.
* Pay In Slip has two parts. The left little slip will be stamped at the cash deposit counter by the Teller (the person who collectes the cash) and returned to you as a proof of deposit, and the bigger one will be kept by them.
* Here in the example I am supposing I have 6 notes of 1000, 6 again of 500, and 10 notes of 100 each. So I am depositing 6x1000+6x500+10x100= 10,000 rupees. And along with the individual denominations you also have to write there in words in both the sides of the slip.
* Date you write on the slip should be same on which you are depositing. (Here i wrote 1st December 2012 for instance)
*Do write the phone number on top of the slip. This was printed long time back till they made it mandatory to write phone number. Newer slips have space for phone number these days. I remember ICICI bank's slips have those.
* No cutting is allowed anymore on pay in slips. If you make an error you can't cut and overwrite it. You will have to write a new slip again so do it carefully.
* For depositing more than 50,000 rupees you will need to show your PAN card. PAN (Permanent Account Number) card is issued by income tax department and is account number where all your financial records are stored. Get that made too if you haven't already, you'll need to show it when you do a job and you'll face many disadvantages at bank if you don't link your account to it. They do it to tighten noose on people who have lots of black money. Many banks serve as agents for Income Tax department. I got mine made at UTI (Now Axis Bank)
*If you don't want your deposits (inward or outward) in your PAN, then deposit only 49,900 lol. That's what everyone does, unless you have to deposit lakhs of rupees. You won't be able to avoid it then.
* If you present any fake notes at bank, they will be confiscated and stamped as "Counterfeit". They won't return it to you no matter what. So make sure all your notes are legit. If a lot of notes are fake you can also be arrested.
*Make sure you count carefully. If you give them more notes accidently then they are so sly they won't tell you and keep it in their pockets. They will silently accept it at that time and later pull it out from the drawer they keep all the notes in. Watch them count your notes carefully and if they tell you that you gave less then count them all yourself again before giving them more notes.
*Do not lose the reciept before the money is reflected into account. Ask the person if he got it or check your account either from ATM Mini Statement or Net Banking.
*If you cannot find the branch of the same bank where you are supposed to make a cash deposit for someone else, then walk up to any bank and ask them for RTGS. They will charge you a little fee and transfer cash into the other person's account. The slip for RTGS or if you want to get a Demand Draft made is almost the same.
*Previously you needed to fill a pay in slip along with cheques you are depositing in a bank account. But now you just have to write the Name, Account Number in which you want it to be credited, and Phone Number of the person and drop it in the cheque drop box. Banks usually have a cheque drop box in ATMs apart from the bank itself.
So suppose if you want to give me cash by a cheque, then make a cheque and write my details and drop it in a union bank drop box, or if you recieve a cheque from me, write your details i mentioned on back of it and drop it in your bank's drop box. You don't need to have account in same bank as me to get money from my cheque. More on cheques later.
That's all I can think of right now. If you think i missed something, shoot me an email or message or comment on the post wherever you see this article and I will add it.
I hope it helps :)
Best! Nipun
