Banks to collect cheque from customer’s doorstepState bank of Pakistan announced facilitation regarding Paper-based Clearing Operations in the wake of COVID-19.
According to a press release issued by the central bank – To combat the potential spread of COVID-19 pandemic by limiting person-to-person interactions and to provide ease of services to the customers, Banks/MFBs are allowed to provide the following services to their customers:
2. Direct Cheque Deposit Facility under which:
a) A crossed cheque may be presented by payee/beneficiary directly into the paying/drawee bank, instead of their bank branches as per the existing practice.
b) In this case, funds may be transferred by the paying/drawee bank either through RTGS customer fund transfer – MT102 or Over the Counter (OTC) IBFT or Bank’s internal online system (in case both payer & payee banks are the same).
c) Before debiting their customer’s account, the paying/drawee bank must take all necessary precautions including but not limited to customer call back or multifactor authentication to verify the authenticity/genuineness of the instrument and verification of their respective customers. Similarly, before crediting the customer account, the payee/beneficiary bank must ensure the authenticity of the customer’s credentials as well.
3. Doorstep Cheque Collection Facility under which Banks/MFBs may make arrangements to collect cheque from registered addresses of their customers upon their request.
4. Dropbox Cheque Collection Facility under which customers may drop their cheques in drop boxes of their Banks, installed in selected branches.
5. Banks may allow their Corporates/Priority customers to send them the scanned image of the cheque along with relevant details of the Beneficiary either through registered emails or through mobile Apps of their banks to push funds from their accounts to the payee bank.
However, such an arrangement must be duly agreed with the customer under proper Terms & Conditions along with complete disclosure of risks and liabilities. The Paying/Drawee bank shall implement all necessary controls including call back confirmation or multifactor authentication to ascertain the authenticity and genuineness of the instrument and identity of the payee. Upon satisfactory validation, the Paying/drawee bank may transfer funds to a beneficiary bank using MT 102 of RTGS (PRISM).