APCOB LOGO NEW
Net Banking COBNET
MLC APCOB

Cheque Truncation System

Cheque Truncation System

Experience modern and efficient banking with APCOB’s CTS (Cheque Truncation System) facility. Say goodbye to time-consuming physical cheque processing and embrace the

convenience of electronic cheque clearing. With CTS, your transactions are faster, more secure, and hassle-free, ensuring a smoother banking experience for all our valued customers.

Features:

  • The settlement of funds takes place in the books of the Reserve Bank of India, the payments are final and irrevocable.
  • The Bank is the indirect member of the Chennai Bankers Clearing House and the settlement takes place to the Bank’s current account with RBI.

Eligibility/Activation/Validity:

  • Rupay debit cards are issued to individual customers with KYC-compliant CASA accounts.
  • Activation of normal/Insta-cards takes one working day, personalized cards take a week.
  • Cardholders can generate green PIN at APCOB ATMs.
  • Expired cards or closed accounts require cutting and replacement.

Customer Precautions:

  • Conduct transactions privately.
  • Allow only one person at the ATM kiosk.
  • Keep PIN confidential.
  • Never leave the card in the ATM.
  • Check for any suspicious devices attached to ATMs.
  • Be cautious of strangers offering help.
Related Services
apcob mobile banking

Mobile Banking

APCOB Bank current accounts are easy to open and simple to use.
Know more
neft

NEFT

Zero(0) Account Balance and ₹ 3.75% Rate Of Interest
Know more
rtgs

RTGS

Open Corporate Salary Delight Account and get attractive benefits.
Know more

Experience Digital Banking Through Our Mobile App

Download
Download
Need Assistance?

Toll Free Number

1800-4252345

Locate

Our Branch

Drop a Mail

[email protected]

Raise a Request

Get a call back

contact-us-form

    FAQs

    1. What is Cheque Truncation System (CTS)?

    Answer: CTS is a system introduced by central banks to reduce the time taken for clearing cheques. Instead of physical movement, electronic images of cheques are transmitted for clearing, speeding up the process.

    2. How does CTS work?

    In CTS, the physical cheques are scanned, and the electronic images along with the MICR (Magnetic Ink Character Recognition) data are transmitted for clearing, eliminating the need for physical movement of cheques.

    3. What are the benefits of CTS?

    CTS offers benefits such as faster clearing times, reduced operational risks, elimination of geographical constraints, and more secure transactions due to electronic image transmission.

    4. Is CTS applicable to all types of cheques?

    Yes, CTS is applicable to all types of cheques including local, outstation, and even those with denominations above a specified limit.

    5. How long does it take for a cheque to clear through CTS?

    Cheques cleared through CTS usually clear within a day or two, significantly faster than the traditional clearing process.