Cheque Collection Policy

find out about our cheque collection policy
Cheque Collection Policy

This collection policy of the Bank (Amended 2020) 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.
  • Time Frame for Collection of Local / Outstation Cheques / Instruments.
  • Payment of Interest for delayed Collection of Local / 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.
  • Service Charges.
  • Procedure for return / dispatch of dishonoured cheques.
  • Information on Dishonoured Cheques.
  • Dealing with the dishonoured outward clearing instruments and frequent dishonour of inward clearing cheques.
  • Dealing with frequent dishonour of cheques / ECS.

Download Policy Documents and Latest Amendments:

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

Click to Download the Cheque Collection Policy Amendment to Version 12 (Format: Adobe "PDF" Document) for your reference and printing.