This is a unique payment product, through which our customer can issue cheques to their clients. The customer gives soft copy of the file containing instrument details, which can be directly uploaded into our system. The payee’s name, date, amount and instrument number is captured and duly validated while making payment, avoiding chances of fraud. The payee presents the cheque at destined location and the drawee Branch will make the payment.
The product is highly useful for making vendor payments, Statutory dues, annuity, Dividends, commission payment by insurance companies, cross boarder remittance from Exchange houses etc.