What is the Positive Pay System for cheque transactions? | Explained
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What is the Positive Pay System for cheque transactions? | Explained
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🏦Read Caption: The Cheque Truncation System (CTS) from batch processing to a continuous, near real-time model called "Continuous Clearing and Settlement on Realisation" to speed up cheque clearance, with Phase 1 starting October 4, 2025, and full implementation by January 3, 2026. This new system significantly reduces the time for funds to become available from days to a few hours, with settlements occurring hourly after the initial scanning and presentation. Banks process cheques continuously
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AU Bank introduces AU Positive Pay to secure your cheque payments. A robust checking mechanism to ensure your cheque payments turn out to be a pleasant and worry-free experience. Know more: http://bit.ly/2XGhXbi | AU Small Finance Bank
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