Users with the right to operate the account in Business e-Banking can deposit e-Cheque.
Q:
Can I deposit e-Cheques for a third party person?
A:
No. You can only deposit e-Cheques which match with your account name in Business e-Banking.
Q:
What is the service cut-off time for depositing e-Cheque? When will the funds be available?
A:
e-Cheque follows the Five-Day Clearing Week. Funds will be available on the next settlement day after 3pm if the e-Cheque is deposited before 7pm on every settlement day.
Q:
How long will my e-Cheques record be kept online?
A:
Once an e-Cheque is deposited, rejected or returned, the e-Cheque record will be retained for 90 days, after which the relevant records will be automatically deleted.
Q:
Can I issue e-Cheques to a payee if he/she does not have an online banking account to deposit e-Cheques?
A:
Yes, he/she could make use of the Drop Box Service provided by the Clearing House or other means provided by the payee bank to deposit the e-Cheque.
In any case, it is the payer's responsibility to ensure e-Cheque payment is acceptable to the payee before he/she issues e-Cheque.
