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What are the charges of Cheque clearing ?

Date: 08 Jan 2011   Posted By: Paresh Gujarati     Group: Opinion About    Category: Miscellaneous   

What are the charges of SBI Bank's cheque to be deposited in HDFC bank account situated in other city?

Author: Jayanta Datta Choudhury    16 Jan 2011      Member Level: Gold     Points : 2  (Rs 1)    Voting Score: 0

The process of check clearance is to transfer money among banks in order to settle the accounts of checks from one bank to another bank. In banking activity check clearance is facilitated by Central Clearing houses. Generally banks do not charge any extra amount in check clearing process.
You can verify the account status in banks where you will find the full amount has been transferred as written in the check.

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