Cheques and positive pay

[dvader]

Hi All,

I (have to) write 2-3 cheques a month and I would like to get clarification on the following

1. Does any bank provide positive pay by uploading cheque images (with or without filling the usual PPS form)? This has been in the West for almost 20 years now but Indian banks being the scum they are have never implemented it because it would mean liability for their mistakes. Right now they pass on the cost of their mistakes to the customers.

2. Does any bank let us fill PPS for an amount less than 50000? I mean that would be optional but does any bank provide this facility?
3. I have been told by bank employees (from multiple banks) that the banks clear cheques even if the beneficiary field doesn't match. As long as the amount matches they clear the cheque. Is this true?

4 (Optional Lawyer Question): What is the legal way to prove to a bank that they cashed a tempered cheque? Will a photo state/picture of the cheque taken before handing it over work as solid proof?

In short, my requirement is

1. Register PPS for any amount
3. The bank should match all fields (Date, Payee, Amount) and Signature ofcourse

Thanks,
Yash

 

[Raavan]

Register PPS for any amount

I did register positive pay system for 4000 INR on ICICI Bank iMobile. Only cheque number asked, not photograph of cheque.

The bank should match all fields (Date, Payee, Amount) and Signature ofcourse

No idea about this one. I did everything correctly. Can't comment.

 

[Talkwithfino]

3. The bank should match all fields (Date, Payee, Amount) and Signature ofcourse

No idea on this

1. Does any bank provide positive pay by uploading cheque images

Icici did this long back through imobile
Now, I think they ditched the images, but you have to upload Acc number, amount in iMobile and they will verify it against that cheque number

 

[dvader]

I did register positive pay system for 4000 INR on ICICI Bank iMobile. Only cheque number asked, not photograph of cheque.

No idea about this one. I did everything correctly. Can't comment.

Excellent at least I can register PPS for less than 50000. The image is the optional extra feature I would love to see get implemented. Anyway, I do have an account with ICICI.

 

[dvader]

Excellent at least I can register PPS for less than 50000. The image is the optional extra feature I would love to see get implemented. Anyway, I do have an account with ICICI.

I just checked ICICI and YesBank both let me register PPS for less than 50000. It's the second time YesBank has a feature not provided by other banks.

 

[Aniket]

Hi All,

I (have to) write 2-3 cheques a month and I would like to get clarification on the following

1. Does any bank provide positive pay by uploading cheque images (with or without filling the usual PPS form)?

I don't have SAs in all banks. So, can't comment, ICICI does have with, but details needs to be submitted as well. It's not customary in Indian Banking Industry.

This has been in the West for almost 20 years now but Indian banks being the scum they are have never implemented it because it would mean liability for their mistakes. Right now they pass on the cost of their mistakes to the customers.

Ohh, I see.

2. Does any bank let us fill PPS for an amount less than 50000? I mean that would be optional but does any bank provide this facility?

Yes, many does. However, it's discretional/optional for the banks to provide the option to use PPS for the amount <50k.

SBI in comparison to the banks in my experience, has the best feature (1) in this regard.
On registration you can choose:
1) All cheques (If you choose all then, you will have to lodge/register the details of all the cheque regardless of the amount. Otherwise, the cheque shall not be honoured/ retuned unpaid.)

or

2) Cheque beyond prescribed limits: Then you will be allowed to register the details ≥ limit amount.

3. I have been told by bank employees (from multiple banks) that the banks clear cheques even if the beneficiary field doesn't match. As long as the amount matches they clear the cheque. Is this true?

Really? So scary & unlawful then.

The system is put in the place to honour the cheque only if the details by the A/c holder in postive pay system matches with the corresponding cheque issued. No further confirmation is required, if everything matches with the cheque details entered/registered by A/c holder in PPS.

They are not supposed to ignore the essential element; Beneficiary name.

4 (Optional Lawyer Question): What is the legal way to prove to a bank that they cashed a tempered cheque? Will a photo state/picture of the cheque taken before handing it over work as solid proof?

In short, my requirement is

1. Register PPS for any amount
3. The bank should match all fields (Date, Payee, Amount) and Signature ofcourse

Thanks,
Yash

Are you all getting the acknowledgement communication over mail or/& SMS with the all details (Payee name, Amount Date, Cheque No.) registered by us in Positive Pay System?

@Raavan @Talkwithfino @dvader & others.

 

[Aniket]

No idea on this

Icici did this long back through imobile
Now, I think they ditched the images, but you have to upload Acc number, amount in iMobile and they will verify it against that cheque number

Yeah, it does have the option to upload cheque pic, but also need to submit particulars/details.

 

[Raavan]

Are you all getting the acknowledgement communication over mail or/& SMS with the all details (Payee name, Amount Date, Cheque No.) registered by us in Positive Pay System?

Y E S

 

[dvader]

Yeah, it does have the option to upload cheque pic, but also need to submit particulars/details.

Really I can't find the option to upload cheque image? (I understand I have to fill the details too but that's fine)

 

[Talkwithfino]

Are you all getting the acknowledgement communication over mail or/& SMS with the all details (Payee name, Amount Date, Cheque No.) registered by us in Positive Pay System?

@Raavan @Talkwithfino @dvader & others.

Never used positive pay personally.....

 

[Aniket]

3. I have been told by bank employees (from multiple banks) that the banks clear cheques even if the beneficiary field doesn't match. As long as the amount matches they clear the cheque. Is this true?

I just checked ICICI and YesBank both let me register PPS for less than 50000. It's the second time YesBank has a feature not provided by other banks.

Do one thing: Draw a cheque in the name of one of your family member and input the details in PPS and then send another to the bank, see what happens. 😂

 

[dvader]

Do one thing: Draw a cheque in the name of one of your family member and input the details in PPS and then send another to the bank, see what happens. 😂

Nice idea, I will try this and share the results.

 

[Aniket]

Nice idea, I will try this and share the results.

If somehow, the cheque gets honoured then.

Next time try making it an order cheque and follow the same process and then see.

You can try it with your ICICI & Yes Bank A/c.

Let's see, even they verify or not, whether they demand a valid ID proof or not even for small amount.

Note: I am just saying to carry out this experiment so that you along with us can know how effectively cheque clearance is carried out and whether it's safe and secure. Not only this, this will also get verified: you have been told by bank employees (from multiple banks) that the banks clear cheques even if the beneficiary field doesn't match.

Ya bas name ke liye bana rakha hai 🤣

P.S: It's your call bro. 😜
If incase experiment ho toh results bataiyega, tag/mention karke, thanks in advance 😊