POLICY ON COLLECTION OF CHEQUES / INSTRUMENTS
The clearing time-lines stipulated by the relevant clearing house, gives effect to the clearing and settlement of reimbursement of the cheque amount to the bank. Also on receipt of information regarding check bounce or non-receipt of physical cheque from the drawee bank ... Return Document
Annexure -I Revised Cheque Collection Policy
Cheques, the Bank has revised its cheque collection policy and has be allowed immediately after closure of relative return clearing. 2. Outstation Cheques: The time frame for collection of outstation cheques drawn on other ... Retrieve Content
Guidelines For Cheque Truncation In Nigeria
Other clearing bank (s) about a suspicious instrument. Special Caution Notice – This is document issued by the paying bank, after the imposed by the CBN from time to time. 4.4 Retention of original cheque The minimum retention period of physical cheques by the presenting bank is five(5) ... Retrieve Document
Bank Drafts - What Is A Bank Draft?
A bank draft is traditionally a check drawn on a bank’s funds, such as a cashier money from your account electronically via the ACH system. You don't have to spend time paying bills and they don't have to deposit your payments and wait for your check to clear. How ACH Payment Works. ... Read Article
Annexure 1 Corporate Office: Bangalore Policy On Collection ...
The cut-off time and in cheque drop boxes cycle. After clearing settlement, the bank would credit the proceeds of cheque settled to the customer account. Cheques deposited before the cut-off time on Day 0 will be credited to the ... Doc Viewer
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