Tomakechequetransactionssafer,ReserveBankofIndia(RBI)videitsCircularNo.th

DPSS.CO.RPPD.No.309/04.07.005/2020-21dated25 September,2020,hasaskedallBankstointroducethePositivePayst

Systemfrom1 January,2021.

PositivePaySystemenablesanadditionalsecuritylayertothechequeclearingprocesswhereintheissuer(drawer)ofthechequeshareschequedetailswiththeBank.Whenthebene�iciarysubmitsthechequeforclearing,thepresentedchequedetailswillbecomparedwiththedetailsprovidedtotheBankthroughPositivePay.

Toavailthisfacility,theaccountholder(drawerofthecheque)needstosharechequedetailsatthetimeofissuanceofthechequesforamountsof`50,000/-andaboveonlinethroughInternetBankingandMobileBankingappofIDBIBankBank,24x7.

AccountNumberChequeNumber(6digits)ChequeDate(Datementionedonthecheque)ChequeAmount

NameofBene�iciary(Payee'sName)

PositivePaySystem(PPS)

VALID FOR THREE MONTHS ONLY

Payable At Par At All IDBI Bank Branches

Savings

Please sign above

XXXXXX XXXXX XXXXXX

XXXXXXXXXXXXXXX

S P E C I M E N

||' 067321 ||' 160259005': 014300 ||' 31

Branch Address: XXXXXXXX XXXXX,XXXXXXX,XXXXXXX,XXXXXx,XXXXXIFSC Code: XXXXXXXXXX

Account Number

Amount in words

Payee Name

Cheque No. MICR Code SAN No. Tran Code

Account Holders Name

Amount in Figures

Cheque Date

U

U

U

U

U

U

Chequedetailstobesharedasunder:

U U UU

A.RetailCustomers

B.CorporateCustomers

ClickonMenu>Accounts>PositivePay-Con�irmChequeDetails.

ClickonMenu>Service&Request>NewRequests>PositivePay:Con�irmChequeDetails.

PleasefollowthestepsbelowtosubmitinformationforPositivePaythroughGOMobile+app

Clickon'Requests'and

thenclickon

'PositivePay-Con�irmCheque'

1Enterthefollowingdetails:

1.Account2.ChequeNo.3.DateofCheque4.ChequeAmount5.PayeeName2

Con�irmthedetailsandinputtheOTPreceivedonregisteredmobilenumber.

ThePositivePayupdationmustbedoneatleastoneworkingdaypriortothedayofpresentment.

Incaseofdatamismatchorincorrectdetailsbankhastherighttoreturnthechequeunpaid.Thepositivepaymentdetailsmuchmatchwithspeci�iedcheque.

Chequemaybereturnedtopresentingbankduetoothertechnical&�inancialreasonsevenifthePositivePaymentdetailsareavailable.

ChequescompliantwiththePositivePaysystemwillonlybeacceptedunderRBIdisputeresolutionmechanismbetweenthepresentingandpayingbanks.

ImportantInformations

PleasefollowthestepsbelowtosubmitinformationforPositivePaythroughInternetBanking

!

PositivePaySystem-FAQs1.WhatisPositivePay?

Reserve Bank of India (RBI)* has directed all banks to introduce the Positive Pay System (PPS) to make cheque

transactions safer. The concept of Positive Pay involves a process of recon�irming key details of cheques issued by

customers.

Underthisprocess,theissuerofthechequesubmitelectronicallycertainminimumdetailsofachequeforvalue 50,000/-

andabovewithIDBIBanktoaddanadditionalveri�icationbeforeprocessingthetransaction,toreduceinstancesof

fraudulenttransactions.Thekeydetailsinclude:

AccountNumber

ChequeNumber

Bene�iciary/Payeename

Chequeamount

Chequedate

2.IsitmandatorytousePositivePay?

ItisnotmandatorytousePositivePay.However,chequesissuedforvalue`50,000/-andaboveshallbeacceptedfor

disputeresolutionmechanismunderCTSgridonlyifPositivePayfacilityisused.

3.IfIhavenotusedPositivePay,willmychequebeprocessed?

Yes,thechequewillbeprocessedevenifPositivePayfacilityisnotused.However,anyissueinrelationtothechequewill

notbeacceptedfordisputeresolutionmechanismunderChequeTruncationSystem(CTS)gridbyNPCI.

4.ArethereanychargesforusingPositivePay?

No,PositivePayfacilityisprovidedfreeofchargetoallcustomers.

5.IamaSavingsAccountcustomerofIDBIBank,doIhavetousePositivePay?

Yes,PositivePayisapplicableforallcustomersissuingcheques(CurrentAccount,SavingsAccount,CCODetc.)forvalue

`50,000/-andabove.CustomerhastoenterrequireddatainthePositivePaysystematthetimeofissuingthecheque.In

casetheinformationisprovidedonthedayofpresentment,itmaynotgetconsidered.

6.WhataretheChannelsavailableforusingPositivePay?

Currently,PositivePayisavailableonlythroughInternetBankingandMobileBankingappofIDBIBankBank,24x7.

PleasefollowthestepsbelowtoreceiveinformationforPositivePaythroughInternetBanking:

A.RetailCustomers

ClickonMenu>Service&Request>NewRequests>PositivePay:Con�irmChequeDetails.

B.CorporateCustomers

ClickonMenu>Accounts>PositivePay-Con�irmChequeDetails

PleasefollowthestepsbelowtoreceiveinformationforPositivePaythroughGOMobile+app:

Clickon'Requests'intheright,clickon'PositivePay-Con�irmCheque'.

Enterthefollowingdetails:

1.Account2.ChequeNo.3.DateofCheque4.ChequeAmount5.PayeeName

Con�irmthedetailsandinputtheOTPreceivedonregisteredmobilenumber.

7.CanIusePositivePaybyvisitingthebranch?

PresentlythisPositivePayiscurrentlyavailableonlythroughInternetBankingandMobileBankingappofIDBIBank.

8.IfPositivePayfacilityisnotused,willIstillgetprotectionagainstafraudulentclaim?

PositivePaymechanismisimplementedwithanaimtopreventfraudsunderCTS.IncasePositivePayisnotused,the

chequeshallnotbeacceptedfordisputeresolutionmechanismunderCTSgrid.

9.WhatifthereisamistakemadewhileenteringdetailsofchequesissuedinPositivePay?

Incaseofanymismatchwhileenteringdetails,IDBIBankhastherighttoreturn/rejectthecheque.

10.Ihavetoissuemultiplecheques,isthereanyfacilitytodoPositivePayforthesemultiplechequesatonce?

No.Foreachchequeissued,PositivePaywillhavetobedoneseparately.