Benefit of Cheque Truncation to Customers of Banks
February 23rd, 2015 by CHEQUEMAN
The cheques presented by customers, today, are sent to the clearing house at the drawee centres by the beneficiaries bank. The cheques at the bigger cities, in view of the large volume of paper instruments, are subjected encoding and then to mechanical sorting and thereafter reach the drawee branches. As per the existing banking practice, […]