Positive Pay

Positive Pay

Positive Pay involves a process of reconfirming key details of large value cheques.

The account holder issuing the cheques needs to submit electronically minimum details about the cheque before handing it over to the beneficiary.

The beneficiary when submits the cheque for encashment, the cheque details are compared with the details provided to the bank through positive pay mechanism in order to mitigate the frauds related to cheques

Click here to register your CSB cheque in Positive Pay System