Cheque Payments

How It Works

The client deposits the cheque at their bank
The bank converts the cheque to data and an image using the Electronic Cheque Clearing Unit (ECCU)
ECCU sends the cheque to the drawer’s bank to submit the transfer request
Receiving bank responds with the acceptance or rejection of the cheque
Cheque amount is credited into the payees’ account


For Banks

This service is the perfect way for banks to reduce costs and risks associated with cheque payments. During business days, cheques can be deposited, with the financial position of the issuing bank verified, allowing for a secure and efficient transfer of funds, and improved archiving and reporting.

For Customers

This service benefits end users and financial customers by offering the convenience of same-day cheque collection, depending on the deposit time. In addition, customers and users of this service can get immediate assurance of their cheque's acceptance or rejection status.

Learn about the Electronic Cheque Clearing Unit