Sri Sudha Co-operative Bank Ltd. offers the Positive Pay System, a modern and secure cheque fraud prevention mechanism designed to protect your business and personal accounts.
What is Positive Pay?
Positive Pay is an advanced verification system where the account holder shares details of issued cheques with the bank. When a cheque is presented for payment, the bank cross-checks it against the details provided to ensure authenticity. This helps in preventing unauthorized or fraudulent cheque transactions.
Key Features:
► Fraud Prevention: Protects your account from unauthorized or altered cheques.
► Easy Submission: Customers can submit cheque details electronically or via bank branches.
► Quick Verification: The bank validates presented cheques against submitted data for faster processing.
► Enhanced Security: Adds an extra layer of security to your business and personal accounts.
► Real-time Alerts: Receive notifications if any cheque does not match the submitted details.
How it Works:
Account holder issues a cheque.
Details of the cheque (cheque number, date, payee, and amount) are communicated to Sri Sudha Co-operative Bank Ltd.
When the cheque is presented, the bank verifies the details.
If the cheque matches, it is cleared. If not, the bank alerts the customer to take necessary action.
Why Choose Positive Pay with Sri Sudha Co-operative Bank Ltd.?
With increasing instances of cheque fraud, our Positive Pay System ensures that your financial transactions remain secure, giving you peace of mind and protecting your hard-earned money.
For more information or to enroll in the Positive Pay System, please visit your nearest Sri Sudha Co-operative Bank Ltd. branch or contact our customer care.
