positive pay: PNB positive pay: Customers should give details one day before presenting high-value cheque


Punjab National Bank last week requested its clients to report the information regarding high value cheques at least a day before clearance under the Positive Pay System (PPS) framework in order to educate them about high-value check scams, as per PTI.
incorporated the Positive Pay Confirmation, a PPS framework requirement for cheques of Rs 10 lakh and above from April 4, 2022.

The Positive Pay System is available for all account holders who submit cheques worth at least Rs 50,000. Use of this service is entirely up to the account holder. According to a bank release from PNB, the CTS grids’ dispute resolution procedure will only accept cheques that adhere to the rules of the Positive Pay System.

Key details to be submitted in PPS, according to the PNB website:

· Account Number

· Cheque number

· Cheque Alpha

· Cheque amount

· Beneficiary name

Customers can use the Positive Pay System (PPS) by providing the necessary information about the cheque they have written through a branch office, online banking for individuals and businesses, mobile banking (PNB ONE), or SMS banking.

How to submit details high-value (positive pay) cheque for verification

Step 1: Login PNB net banking using credentials.

Step 2: Click on ‘Positive Pay System’ tab under Value Added Services.

Step 3: From the drop-down menu, choose the Account Number. After that customer has to submit a six-digit cheque number, cheque alpha (3 character), cheque date, cheque amount, and beneficiary name.

Step 4: Enter the password for the transaction and click the “Submit” tab.

The customer will see a notice on their screen confirming that their cheque was successfully submitted following a successful submission.

How to submit PNB high value cheque for verification through SMS

Customers can use the Positive Pay System for high value cheques by sending a message to 9264092640 or 5607040 using the following syntax.

PPS Date>

According to PNB website, these are things to note:

  • Account Number: Full Account Number
  • Cheque Number: 6-digit Cheque Number (numerical value)
  • Cheque Alpha: 3 characters printed on cheque
  • Cheque Amount: Rs.50000/- and above (only numerical value)
  • Cheque Date (format): DDMMYYYY

On successful submission, the customer will receive a message that “Your request for PPS data of cheque No. XXXXXX in Account No. XXXXXXXXXXXXXXXX has been accepted.”

Make sure that Positive Pay information is submitted one working day prior to the cheque presentation or clearing date.



Source link