Payable at par pap cheque book

You will get a cheque book with your indus comfort premium account. Monthly physical statement on request, free not provided if opted for estatement. The idea according to rbi was triggered by growing use of multicity and payableatpar cheques at any branch of a bank, increasing popularity of speed clearing for local processing of outstation cheques andhence, implementation of grid based cheque truncation system cts for imagebased cheque processing. Equitas small finance bank banking solutions fun banking. Penal charges for abb clearing pap cheque utilization first 5. A premium salary account that is offered for select corporates as priority service. Outstation cheque collection charges at bank location. Free 25 cheque leaves per half year financial year every additional chequebook of 25 leaves will be charged. The cheque leaves bear the narration payable at par at all branches and the micr code line of the cheques have transaction codes 29 current ac, 30 savings bank ac and 31 cash credit ac to facilitate processing of such cheques as local cheques at the micr cheque processing centres.

Idfc first bank gives its customers a payable atpar cheque book through which local cheques can be issued at any of our branch and correspondent bank branch locations across india services get rid of the hassles of having a locationspecific current account or requesting for a locally payable cheque. Trade and foreign exchange current account indusind bank. Personalised cheque book payable at par cheque book free 200 leaves per month. The cheque books issued for both type of accounts are for payments in indian rupees only and are payable at par. A multicity cheque or mcc is the one that is written by a customer to his client and it is payable at all branches of a bank. Multi city cheque is a cheque payable at any of its bank branch. Idfc first bank gives its customers a payable atpar cheque book through which local cheques can be issued at any of our branch and correspondent bank. Any cheque that is payable at any place, without deducting charges to the presentor, and without delay on presentation, apart from the branch where the account is maintained is known as at par cheque. Free pap cheque book, email statements, passbook facility, netbanking to parents to monitor the childs account. Cbs enabled banks should issue only payable at par cheques. Gross settlement, rtgs real time gross settlement, neft national electronic fund transfer, pap.

I agree that i will maintain the minimum balance in my account as prescribed by the bank from time to time. Payable at par multicity cts 2010 standard cheques are issued to all customers of the bank. Many banks now a days extend this facility and the at par cheque can be used as a draft. Minimum deposit of 5,000 five thousand aqb average quarterly balance should be minimum 5,000. I agree to preserve my cheque book atm card carefully. Branches may issue a cheque book of 10 leaves, if a customer demands the. Cheque payable at par means the amount mentioned in the instrument would be payable to payee without deducting any charges. Glossary of banking terms banking terminology federal. Free unlimited cheque deposit across india and fungible limits of cash deposit at home and nonhome location. Cheque book pap cheque book unlimited free charges beyond free limits na collections local cheque clearing free. Multi city cheque or payable at par cheque is a cheque drawn by a customer of the bank in favour of a person or an entity and is payable at.

With the hdfc bank regular current account, you can access your account anytime, anywhere, pay using payable at par cheques or deposit cheque at any hdfc bank branch. Available free on your indus silver plus current account. Free payable at par cheque book with no usage charges. On receipt of clear credit in the books of the bank, the customer. Hdfc premium salary account holders get insurance covers and zero balance benefits. Cheque book pap cheque book of 25 leaves limit 2 cheque books free per quarter. A current account is ideal for carrying out daytoday business transactions. Section 80gg allows selfemployed paying rent for the. Pap payable at par na not applicable sa savings account ca current account. Pap cheques means those cheques which are payable at par. Institutional current account with ujjivan small finance bank. No interest applicable for any deposit withdrawal cheque deposit, online transaction etc. At par cheques are paid at all branches of particular bank in clearing, or transfer and to some extent cash.

In short, it is treated as a local cheque, and not outstation cheque which use to take 1015 days to realise. The service charges levied by the bank or interest credited by the bank shall not be considered as a customerinduced transaction. Reserve bank of india has issued guidelines on standardisation and enhancement of security features for cheque leaves referred to as cts2010. In a notification, rbi has mandated that banks with core banking systems that is, most banks must offer cheques that will be payable at par that is, not intracity or intercity collection charges for all their customers in applicable branches. If account is having cheque book facility and nach ecs mandate is. Pap cheque book free 25 cheque leaves per year financial year dd request through branch free upto rs. Some banks fix a limit up to which such cheques can be drawn for clearing payments at outstation centres. Multi city cheque mcc facility is made available to select customers of the bank who fulfil the eligibility. Payable at par multicity cts 2010 standard cheques are issued to all customers. Leveraging the cbs, banks issue payable at par multicity cheques to select customers with separate transaction codes 29, 30 and 31 by. In case of losstheft of the same i shall immediately inform the bank in writing. If you have a at par cheque of axis bank of delhi main. These features are aimed at enhancing customer safety and facilitating easier processing of cheques. All the number mentioned above are written with special magnetic ink and can be read with a magnetic ink reader.

Subject to salary credits, customers can enjoy free zero balance account. Policy and procedure on cheque collection and immediate. Free collection of cheques deposited at indusind locations up to rs. A local cheque can be cashed only with the issuing bank and payable at par cheque can be cashed at any branch of the issuing bank. Bank issues personalised cheque book to all its customers which are payable at par at all branches of the bank in india, called as multi city cheque with the multi city cheque book, you can withdraw funds by yourself as well as make payment to people in cities other than at citytown where you maintain an account. Payable at par cheque usage 25 txns per month free. Master circular on collection of cheques idbi bank. However, post the establishment of the core banking system at all banks, most cheques are payable at par cheques only. This section includes definitions of terms that are frequently used over the portal. Sign a pap or mcc, even better do an neft or rtgs, but then you will need to know the. Below are the details of the types of hdfc bank savings account that the bank has to offer with their complete set of features. Cheques deposited at any location of indusind bank for clearing in the same location. Interest will be paid on the quarterly basis by direct credit in the savings account.

A local cheque can be cashed only at the issuing bank, and a payable at par cheque can be cashed at any branch of the issuing bank. Schedule of charges senior citizen savings account effective may 1, 2012 basic banking services senior citizens, ther nonindividuals individuals at semiurban individuals. Free outstation cheque collection at ujjivan sfb locations across the country. Cts 2010 was needed on account of several developments in the cheque clearing namely growing use of multicity and payable at par cheques at any branch of. Schedule of charges senior citizen savings account.

Pap cheques can be encashed anywhere in india, irrespective of. Click on the other banking services, under the banking tab on the left hand navigation bar. Multi city cheque or payable at par cheque is a cheque drawn by a customer of the bank in favour of a person or an entity and is payable at par at all branches of the bank. Most of the cheques are payable at par with the core banking system at all banks. Cheque number where is the cheque number on cheque.

Policy and procedure on cheque collection and immediate credit of outstation cheques 1 local cheques. They indicate whether the cheque is a local cheque, or payable at par cheque. You can choose to request for a cheque book containing 10 or 25 leaves. At par is used when this charge is already bear by the payer and so it can be used at any other state and the payee will get the exact amount stated in the cheque. Free cash deposits across all ujjivan small finance bank branches up to 15 times of. Payable at par cheque refers to those cheques which can be encashed at any of the bank branches across the country without any additional charge. The bank, which operates 17 branches in the country, is offering free cheque pick up and cash delivery at the door step for customers, it said. Free payable at par cheque book, demand drafts payable at hdfc bank branch locations. Features and benefits of indus comfort premium salary account.