1. These Terms and conditions will be called “AU Positive Pay T&C” and shall be applicable in addition to existing terms and conditions of AU Small Finance Bank’s account services.
2. AU Positive Pay is service where the cheque details can be updated by customer which will be matched while cheque clearing in CTS system.
3. Customers are advised to update the correct details of cheque issued from their account on the AU Positive Pay system using any one of the options provided below or as may be introduced by the Bank at a later date and as notified on Bank’s website:
a. Bank’s Website
b. Net Banking
c. Mobile Banking
4. Customer should provide following mandatory information, which should be correct in all respect, in AU Positive Pay system i.e.
a. Customer ID
b. Account Number
c. Cheque Number
d. Cheque Amount
e. Date of cheque
f. Name of Payee
5. Details once submitted in AU Positive Pay cannot be modified.
6. In case of mismatch in the information provided by customer on AU Positive Pay with the cheque presented in Clearing, bank may return the instrument unpaid in customer’s interest.
7. Bank will not be liable for any consequences arising out of the return of the instrument/s due to mismatch of information on cheque with details provided in AU Positive Pay.
8. AU Positive Pay facility is applicable only for cheque clearing by CTS (cheque truncation system).
9. Cheque information provided in AU Positive Pay will be available for validation on next working day.
