Collection of cheques/instruments on behalf of Bank’s customers
deposited with any Branch- A Value added Product
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The Product
BOP Customer can deposit cheques/instruments for clearing/collection in their accounts, through on-line facility, at any Branch of BOP.
The Procedure
- The customer can deposit their instruments on the dedicated pay-in-slip.
- The pay-in-slip will be in duplicate form, 1st portion will be attached with the cheque and will be treated as a voucher for fate realization and posting income & FED, 2nd will be the customer’s copy.
- The dealing Officer before issuing the receipt of the instrument, will verify the account number and title through on-line module or MIS, in case on-line is not working, and will accept the cheque/instrument for collection satisfying that apparent tenor is in order.
- n case of following discrepancies, the bearer of the cheque will be directed to contact the parent Branch and the cheque will not be accepted unless discrepancy is removed:
- The account number is not found; account is dormant/ inoperative/unclaimed.
- Title differs or Account number mismatches.
- The realized proceeds shall be transferred on 3rd day of lodgment of cheque/instrument (in clearing) before 10 am for credit to the customer’s account at parent Branch without fail, for example, a cheque lodged on 1st of a month shall be transferred to account at parent Branch on 3rd of the month (subject to realization), before 10 A.M.
- Please note that instruments which come under local outward clearing at the processing Branch shall only be accepted, if a customer wants to deposit a cheque other than local outward clearing, he will be referred to his parent Branch as all such cheques comes under normal OBC.
Commission/charges
As per Schedule of Charges