If you are searching How to Submit Canara Cheque Details (Positive Pay) Online? then this article is for you. In our previous article, we explained How to stop cheque payment in Canara Bank. And now in this article, we will discuss the new system called Positive Pay System, launched on Jan 1, 2021 by RBI in the sake of providing additional security to the Cheque clearing system.
- 1 What is Positive Pay System for Cheques Payment ?
- 2 Is Positive Pay Mandatory?
- 3 Requirements for Canara Bank Positive Pay for Submitting Cheque Details
- 4 How to Submit Cheque Details in Canara Bank under Positive Pay System via Mobile Banking ?
- 5 How to Submit/Share Canara Bank Cheque Details via Net Banking Positive Pay System ?
- 6 Final Words
What is Positive Pay System for Cheques Payment ?
RBI introduced Positive Pay System for Cheque Truncation System in Sep, 2020. It also called as PPS (Positive Pay System). It came into effect in Jan 1, 2021. Positive Pay System works in order to increase the safety of cheque transactions.
According to this Positive Pay Cheque System now after issuing a heavy amount cheque Issuer has to submit some details of issued Cheque like Cheque Number, Payee Name, Amount etc. to the Drawee bank electronically such as SMS, Internet Banking, Mobile Banking, ATM etc.
These details will be used to cross-check the details provided by the Cheque Truncation System (CTS) at the time of cheque clearance. In case of tampering clearance of cheque will be stopped and appropriate measures will be taken afterward.
Some banks like HDFC, ICICI, SBI etc already are using Positive Pay for Cheques. Now Canara Bank has started this facility for its customers.
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Is Positive Pay Mandatory?
Customers can opt Positive Pay System for cheques for amounts between Rs 50,000 and Rs 5,00,000. But it is totally optional and depends on the choice of the customer who issues the cheque. On the other hand, the Positive Pay System for Cheques for amounts of Rs 5,00,000 and above may be compulsory but it depends on the bank.
|According to Canara Bank Circular it is optional for the customers to opt Positive Pay System|
Requirements for Canara Bank Positive Pay for Submitting Cheque Details
- Activated Canara Bank Net Banking
- Registered Canara Bank Mobile Banking
- Issued Canara Bank Cheque Details
How to Submit Cheque Details in Canara Bank under Positive Pay System via Mobile Banking ?
- Login into Canara Bank Mobile Banking using Passcode.
- Click on the “SMS Banking” under “OTHER APPLICATIONS”.
- Now tap and swipe left on the “CPPS – Submit Cheque Details” option.
- You will see the mail icon ( ✉ )click on the icon.
- A page will be opened where you have to enter some details like last 4 digits of your Canara Bank Account, Issued Cheque Number, Cheque Date(DDMMYYYY), Cheque Amount, MICR. Code/Routing Number, Payee Name etc.
- Now click on “Ok” button.
- At last you will get a URN number which you have to keep safe for future reference.
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- Now click on the “Services” option present on the top nav bar.
- Tap on “Positive Pay System”
- Now select “ Cheque Register” to fill in the details of the issued Cheque
- Firstly select the account and then fill the Canara Bank Issued Cheque details like Cheque number, Amount, Payee Name, Date of Cheque, and MICR Number and click on “Submit”
- Now check the provided details and click on “Confirm”
- Next, you have to enter your Transaction Password
- At last URN number will generate which you have to keep safe for future reference.
We hope this guide helped you in submitting details with Canara Bank under Positive Pay System (PPS). Currently sharing Cheque details with Canara Bank in Positive Pay Cheque System is available by only Net Banking and Mobile Banking. Other ways which include ATM and SMS banking are not available currently. If you face any difficulty you can visit Canara Bank Branch. You can find it by clicking Canara Branch Near Me. Also, you can call on 24*7 Canara Bank’s customer care number 1800 425 0018/ 1800 103 0018/1800 208 3333/ 1800 3011 3333.