Positive Pay System
To ensure greater safety on cheques issued from PDC Bank Accounts, a new service has been introduced. This service is known as Positive Pay and can be accessed from Panchmahal DCCB Positive Pay Mobile Banking Application.
Positive Pay System enables an additional security layer to the cheque clearing process wherein the issuer of the cheque submits cheque details.
When the beneficiary submits the cheque for clearing, the presented cheque details will be compared with the details provided to the Bank through Positive Pay.
To avail this facility, the account holder (drawer of the cheque) needs to share cheque details MANDATORY at the time of issuance of the cheque for amount of Rs. 5,00,000/- and above. For the cheque for amount of Rs. 50,000/- to Rs. 4,99,999/- is optional.
Cheque details to be submitted:
These details can be submitted by the account holder to the bank by either the Positive Pay Mobile Application (Panchmahal DCCB Positive Pay) of PDC Bank.
