We collect both local and outstation cheques*, and our collection facility is serviced through our branches and partner banks in India.

Other benefits include:
                

• Collection of local and outstation cheques from over 3,600 locations in India with multiple partner banking arrangements to cater to your business needs
• Speed clearing for quicker processing of outstation cheques to ensure funds are promptly available to you to enhance your cash flow and working capital
• Dedicated daily cheque pick up facility at over 600 locations across India to ensure your cheques can be deposited on a daily basis to minimise delay in your payment collection process
• Flexible credit arrangements with options of having varied credit arrangements like collect and pay, and cheque discounting at competitive rates for guaranteed funds, giving you flexibility with your cash flow
• Comprehensive cheque status updates and reports via IDEAL and IDEAL eReports, where you will receive customised reports in real-time and on a daily basis in the file formats you prefer
• Simplify your accounts reconciliation process with our detailed deposit and invoice statements available on an intra-day, daily and monthly basis to help you streamline your accounting process

* Outstation cheques refer to cheques that are cleared in a different location from where the cheque was presented.

We offer to collect foreign currency cheques in our pick up service and process the cheques which can be drawn from overseas banks through our international collections banking network. For example, we can process a USD cheque deposited in an Indian city but payable in New York.

Other benefits include:
                

• We collect cheques in any currency from any location in India
• Guaranteed credit facility through our branches in India
• Real-time tracking of cheque collection, cheque processing and deposited funds via IDEAL and IDEAL eReports, where we notify you by sending email/SMS alerts at each stage of the collection process till the funds are credited into your account
• Quick access to funds with our flexible service of picking cheques as per your time and requirements to minimise delay
• An established network of international banks that offers faster cheque processing, clearance and crediting of funds into the designated bank accounts

You can submit both domestic and international cheques for our cheque pick up service. Domestic cheques include local and outstation cheques.

You will receive a daily cheque collection status report via IDEAL, our online banking platform, where you can view the latest update on the cheques deposited into your account. You can also sign up for IDEAL eReports, where we will provide you with real-time email/SMS alerts at each stage of the cheque collection process and inform you when the cheque has cleared and the funds are credited into your account.

Yes, the fees apply to your account type:

For Business Entrepreneur’s Account holders, the fee is INR 500 per location per month
For Business Edge Account holders, the fee is INR 300 per location per month
 
The above charges are for pickup locations within the city area. Additional charges will apply for any specific location or outside city area pickups.