You received a cheque with your name on it from another person. Another type of cheque is foreign currency cheque. Cheques payable in Foreign Countries. Figure 1 … These cheques are issued in your name and need to be cleared at the issuing bank’s clearing house available. Banks take up to 3-7 working days of time for local clearing of cheque. interest and issue of post dated cheques for EMI on the date of final disbursement. Read Also: HDFC RTGS/NEFT Form & cheque filling. - Alteration not allowed, Amount in Word / Figures Required, Cheque Altered - Refer to Drawer, etc.) If you have access to Internet Banking, the check deposited on Monday morning and if it was sent for clearance then it will show as checks in clearing by Monday evening itself. Suppose you received a cheque, which is of Axis Bank. Outstation cheque collection through collection basis takes around one to two weeks depending on the corresponding/drawee bank for this purpose. The Cheque Status page appears. Assuming this cheque is going to clear in 2 days, we had given cheques for our suppliers which retruned (bounced) beacuse of insufficient funds. Most of the public sector banks in India will clear outstation cheque within 7 to 21 days. Outstation cheque collection through collection basis takes around one to two weeks depending on the corresponding/drawee bank for this purpose. Under Speed clearing, it … Clearing of cheques takes 2-3 days time. Once you deposit a cheque in your bank, the first question comes to your mind is ‘How long it will take to clear cheque?’ the second question probably be ‘What is normal cheque clearing time?’. There is a HDFC bank in Kannur, (Mele Chovva Junction Kannur: Address : Shop No 12/159A,M Mele Chovva Junction,Mattanur Road , - Kannur Kannur-670006 Kerala India) It will may take about 2 days. After finishing reading this article you will be able to understand: types of cheques, process of cheque clearing and time taken for cheque clearing. Suppose you received cheque from Axis bank account holder. First cheque return in a quarter - Rs 350 ; From second cheque return in the same quarter - Rs 750 per return ; Charges due to funds transfer cheque return - Rs 350: Due to technical reasons - Rs 50/-(ex. 2) Outstation Cheques Proceeds of outstation cheques will be credited to customer account as per the norms outlined below. Collection of A/c Payee Cheque - Prohibition on crediting proceeds to third party A/c. 2) Outstation Cheques Proceeds of outstation cheques will be credited to customer account as per the norms outlined below. However, human errors may occur at times. Below we have mentioned simplified process of cheque clearing. 4. Write a Cheque in HDFC Bank : HDFC Bank is a well known bank in India and it provides all its account holders with a number of banking options and facilities.One of the most important one is a Cheque Book. The National Pension System (NPS) Tier II Account is an add-on account that allows you the versatility to contribute and withdraw from multiple NPS schemes without any exit charge. This is simple explantion of process of cheque clearing. Some people write it as “A/C payee”. This is case of mishandling. The time-frame for collection of cheques drawn on state capitals and major cities has been capped at seven days and ten days respectively. The time for cheque clearing in India might differ. 1.Cheques drawn on Metro / Non-metro cities where HDFC Bank has a branch, credit will be given on receipt of clear funds in: a) 7 working days for collection … Improper filled cheque/ Wrong details mentioned. Enter the cheque number(s). International cheques may take 3-4 working days time. As the given bank branch doesn’t exist in your account, outstation clearing can take longer time to clearing. <>>> If the drawer of the cheque (the person who wrote you cheque) has wrongly filled cheque or signature is found to be wrong. ����B� hh\2��$:��x[5,����%�L�Q�(����O.�h��N�J�"�jh�*��A��w�ǹ�*�C�C�? Save my name, email, and website in this browser for the next time I comment. Withdrawal of amounts so credited would be permitted as per the cheque return of the clearing house. Cheques dropped off in the bank or the drop box are subject to the cut-off time for clearing cycles With CTS, cheques can be processed — that is scanned — 24x7 at bank branches What is KYC, Full Form of KYC, KYC Documents. Read Also: HDFC RTGS/NEFT Form & cheque filling. The time for cheque clearing in India might differ. Even though you have submitted cheque to your bank, the staff who handles clearing department might be on leave. HDFC Bank remains closed on 2 nd and 4 th Saturdays, Sundays and all the bank holidays. Or alternately, select the Cheque Range option to verify status for a range of cheques. Customers account will be credited on Day 1 as part of the end of day (EOD) processing. Cheque Status Inquiry Keyword: (HDFCCST6 digit cheque no.>) You will be able to check the status of a cheque issued by you, whether it has been paid / unpaid / stopped/invalid For eg: If the cheque no. So if you find that your payment is getting delayed for longer than standard time, then you should immediately visit your bank and inquire regarding status of your cheque. Cheques are prominent instruments in our daily economic transactions. Filed Under: Daily Banking Tagged With: cheque clearing time, Your email address will not be published. If it is crossed cheque, then you must have to submit it to the bank where you hold an account. So now you are well equipped with the knowledge of cheque clearing time, process of cheque clearing and all the other details regarding the process, so don’t forget to share this with others. Under Speed clearing, it would be two to three working days. <> ����%��4��ҿJ�u)8>ٍ\�����vF�ƒ��q6_I;@�2����ˋ�r �\SZ��j� ,����F�~�k����l� �.�h�C�)��"������UpTWkgi!��J�,R�}���ru�`����?r��v2�b�c���c;W Z�o���ƞ���O6mo�@˙����0�9���^�/=��Y���J�@ ^��� ���zR�Pcwm��p$4k)t��y�**��~/Ԓr��cx�84n�%Xڨ1�Q��,���o4��C�T. CTS machines now allow the banks faster way to clear cheques within a day. ), which may be finetuned for individual locations/branches, based on local practices, will be fixed by the Controllers of the respective branches. The central bank has fixed a time-frame for collection of outstation cheques as well. 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