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Cheque Collection Policy

find out about our cheque collection policy

Cheque Collections Policy:

Cheque Collection Policy - find out about our cheque collection policy

This collection policy of the Bank is a reflection of our banks' on-going efforts to provide better service to our customers and set higher standards for performance. The policy is based on principles of transparency and fairness in the treatment of customers

While adopting this policy, the bank reiterates its commitments to individual customers outlined in Banker's Fair Practice Code of Indian Bank's Association. This document is a broad framework under which cheque collections are governed.

 

Information published in the Cheque Collection Policy Document:

  • Arrangements for Collection.
  • Local Cheques.
  • Outsation Cheques.
  • Cheques payable in Foreign Countries.
  • Immediate Credit of Local / Outstation Cheques / Instruments.
  • Purchase of local/outstation cheques.
  • Time Frame for Collection of Local / Outstation Cheques / Instruments.
  • Payment of Interest for delayed Collection of Outstation Cheques.
  • Cheques / Instruments lost in transit / in clearing process or at paying bank's branch.
  • Force Majeure.
  • Charging of Interest on cheques returned unpaid where Instant Credit was given.

Click to Download the Bank's Cheque Collection Policy Document (PDF) for your reference and printing.