ICICI Bank offers a wide network of 840 own locations for collection of cheques. The various services offered under cheque collections are as follows:
Local Cheque Collections (LCC)
Local Cheque Collections involve collection of local instruments from various locations on behalf of customers. Cheques payable in local clearing are processed and credit is given based on local clearing at the drawee location. The two variants offered here are:
- For cheques drawn and presented at ICICI Bank locations
- For cheques drawn and presented at a location where ICICI Bank has a correspondent bank tie-up.
Upcountry Cheque Collections (UCC)
Upcountry cheques are collected through our branches and through a huge network of correspondent banks. You can manage your cash flow by using our services to expedite your collections. We also provide you with collection reports to help you monitor the status of cheque clearing and to facilitate easy reconciliation of account receivables. Three variants offered under this service are:
- Cheques presented at and drawn at ICICI Bank locations
- Cheques presented at and drawn at locations where ICICI Bank has a correspondent bank tie-up
- Cheques presented at and drawn at a location where ICICI Bank has no presence and no correspondent bank tie-up.
Drop Box Services
Drop box services have been developed and implemented to extend convenience to customers. It is a service where you can instruct your dealers or other channel partners to drop cheques at any ICICI Bank ATM drop box for making payments. The cheques dropped would be cleared at a pre-defined frequency. Detailed and customised MIS can be provided for the facility. By extending a wide network of ATM drop boxes for cheque collection, ICICI Bank offers unmatched coverage.