NEWS & ADVICE : CREDIT CARDS
Banks will now alert you before clearing heavy amount cheques
By Ankit Sharma
Dec 9, 2014
Print    Email    RSS   

With the intent to control the frauds associated with Cheques the Apex bank has asked the banks to alert the customers through the SMS before clearing the cheque. Before clearing a cheque of heavy amount (Rs 10 lakh or above) the bank will send an alert to the customer through a phone call or SMS and will confirm regarding the clearing of the cheque.

In case of the non home branch ban will make proper check with the home branch will confirm the details of the account holder. Banks also have to send an SMS alert to the payer or the recipient when cheques are received in clearing.

Banks are being asked to give special attention to cheque handling services at the branches. However, Some bankers are not in favour of alerting customers as the process of sending SMSs or calling would require a lot of resources.


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Electronic fund transfers- making life...
Cobranded debit cards: How good are they?
Know if you are in CIBIL’s list of...
Virtual Credit Card- Know all about it!!
How to protect credit card from getting...


i will like to know if i have any dueson my sbi...
How can I clear my CIBIL PROBLEM?
what is my credit card statement
i forgot my ATM pin number i could i get it again

NEWS THIS WEEK
91st Founders day of the Karnataka Bank Feb 18, 2015
Banks on strike from 25th February Feb 16, 2015
SBT bank postponed the Open House meet Feb 13, 2015
Yes bank planning to line up for credit card portfolio Feb 12, 2015
Pocket banking – new app by ICICI bank Feb 11, 2015
News Archive