Service Duration 1 Year, Service Mode OnlineOffline Collections Services, Service Type Recovery Of Debts Services

Big corporate customers receive payments from their customers via cheque. These cheques offer a high concentration of volume. Requires depositing these cheques appropriately derived from the value date of the cheque. Post dated cheques are meant to be warehoused and to be presented at a later date. Therefore corporates look for outsourcing the cheque collection service. Typically, Banks provide cheque collection service to their corporate customers. Cheques could be two types house cheques other bank local cheques bank charges different processing fees for house cheques and other bank cheques. Fees can be charged either based on per cheque basis or volume pricing basexists within accordance with the corporate. House cheques are processed concerning the significance date of the cheque. House cheques are verified for signature of the account holder. Balance available to clear the cheque. Other bank cheques are presented on the value date of the cheque. Commercial and retail sectors customers today look for online bill payment services from their banks to meet the payment for electricity, Telephone, Mobile etc. Billing organizations like the telecom service, Electricity company providers look for outsourcing their bill collection assistance tailored to the banks.