Positive Pay System FAQs
Positive Pay System enhances the safety of cheque based transactions. Positive Pay involves the process of reconfirming the key details of clearing cheques to the drawee bank by the issuer before the presentation of the cheques in CTS Clearing.
Positive Pay System for cheques in CTS clearing implemented by Bank effective from January 2021. Positive Pay is enabled for the cheques issued by Dhanlaxmi Bank, presented through CTS Clearing. Customers are requested to submit details in Positive Pay before issuing the Cheque to the Beneficiary.
As per RBI Guidelines, Positive Pay is enabled for all account holders issuing clearing cheques for amounts of ?50,000 and above. While availing of this facility is at the discretion of the account holder, banks may consider making it mandatory in case of cheques for amounts of ?5,00,000 and above.
As per RBI Guidelines, Positive Pay is enabled for all account holders issuing clearing cheques for amounts of ?50,000 and above. While availing of this facility is at the discretion of the account holder, banks may consider making it mandatory in case of cheques for amounts of ?5,00,000 and above.
If there is any mismatch, the cheque will be referred to customer for confirmation.
Positive Pay is enabled in our Internet Banking and Mobile Banking, where the customers can submits the details of cheque presented for clearing.
Positive Pay can be accessed under
- Retail NetBanking >> Service Request >> Cheque Pay
- Corporate NetBanking >> Transfers >> PositivePay
- Mobile Banking >> Transfers >> PositivePay
The customers not availing the above facilities can visit our Branch and submit the details.
Once the Positive Pay request to the bank is accepted, the bank would only clear the cheque if it finds the cheque fully matching with the details uploaded. If there is any discrepancy, bank will immediately contact the customer for verification and ratification before clearing the cheque.
Bank will provide reference number for all the requests submitted by the customer.
If there is rejection on account of data discrepancy, then the Issuer (drawer) will have to initiate a fresh Positive Pay request.
