Cheque Collection Policy

find out about our cheque collection policy
Cheque Collection Policy

This collection policy of the Bank (Amended 2010) is a reflection of our bank’s 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 this Document:

  • Introduction.
  • Arrangements for Collection.
  • Local Cheques.
  • Speed Clearing.
  • Outsation Cheques.
  • Cheques payable in Foreign Countries.
  • Immediate Credit of Local / Outstation Cheques / Instruments.
  • Instant Credit of USD denominated cheques of small value.
  • Instant Credit of other than USD denominated cheques of small value.
  • Purchase of local/outstation cheques.
  • Time Frame for Collection of Local / Outstation Cheques / Instruments.
  • Service charges for collection of cheques denominated in foreign currency.
  • Payment of Interest for delayed Collection of Outstation Cheques.
  • Payment of interest for delayed collections of foreign 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.
  • Dealing with frequent dishonour of cheques / ECS.

Click to Download the Cheque Collection Policy (Format: Adobe "PDF" Document) for your reference and printing.