Positive Pay System (PPS)
Transcript of Positive Pay System (PPS)
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
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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
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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.