To provide customers safety in cheque payments and reduce instances of fraud occurring on account of tampering of cheque leaves, Patan Bank introduces a mechanism of Positive Pay for all cheques of value ?5,00,000 and above. Through Positive Pay, cheques will be processed for payment by the drawee bank based on information passed on by its customer at the time of issuance of the cheque.

*If PAN number is not updated in bank records, kindly contact nearest branch to update Positive Pay details.

Process:

1. You need to share the following details of the issued cheque at least 24 working hours before the cheque is presented in the clearing.
2. When the payee submits the cheque for realization via CTS clearing, details (account no./cheque no. and cheque amount) will be validated which have been provided to the Bank through Positive Pay.
3. Positive Pay System enables an additional security layer to the cheque clearing process.

• There are available PPS form in WEB SITE through which customers can update the Bank on the issuance of the cheque

CLICK HERE :- PPS FORM