E-Cheque

eCheque

NIFT eCheque is the digital version of conventional paper cheques for Banking Customers. eCheque is the digital issuance, lodgment and clearing of an electronic cheque through Bank’s digital channel that carries all the paper cheque requirements. On top of all existing offering of paper cheque, an eCheque offers enhanced convenience and security since it will be digitally signed by Payer bank. After a verification process, the echeque may be added in the Electronic-Image Based Clearing System (IBCS) cheque clearing cycle for quicker clearing and settlement.