What is Positive Pay
Positive Pay allows reconfirmation of cheque details once a cheque has been issued. Customers have to provide the basic details of cheque like Account number, Date of cheque, Cheque number etc. on www.yesbank.in
When the beneficiary submits the cheque for encashment, details of the cheque are validated against the details filled by customer on positive pay portal and hence acting as additional layer of security.
Any discrepancy is flagged by CTS to both drawee and presenting bank and the same will be referred to the customer for validation.
Eligibility
YES Bank Customers issuing cheques of any amount which are deposited by beneficiary through other banks can do a positive pay via YES Service Portal
Cheque Details Required:
Account Number
Cheque Number
Payee Name
Cheque Amount
Cheque date
Transaction Code
MICR Code
Short Account Number
*Refer image above for description of input fields
Steps to avail YES BANK Positive Pay
Step 1: Click here OR Visit www.yesbank.in > Login > Yes Service Portal > Get started
Step 2: Authenticate yourself with 2 identifiers (DOB, CUST ID, PAN, Mobile No.) & OTP
Step 3: Fill in the cheque details and submit
Terms & Conditions:
It is advised to fill positive pay at the time of issuance of cheques. Cheques already cleared before doing positive pay will not be validated
To enable validation through Positive Pay, cheque details should be available with the bank a day prior to cheque presentation date
Availing of Positive Pay solution is at the discretion of customers. It is, however, recommended that customers avail this facility for all cheques valued Rs 5,00,000 and above
Cheques wherein there is a mismatch between Positive Pay information and actual cheque received for clearing would be referred to the customers ( Direct Rejection of cheque will not happen)
Cheques updated on Positive Pay may still be rejected due to signature mismatch
Positive pay can be done only once for a cheque
Positive pay is currently valid only for cheques deposited in Non- YES Bank accounts. Currently, YES Bank cheques cleared through YES bank branches will not be validated for positive pay
Only cheques that are compliant with the Positive Pay system will be accepted under RBI dispute resolution mechanism between the presenting and paying banks
In case of non-individual entities any one of the authorized signatories can submit a Positive Pay request for a cheque issued from the account
Users can submit a Positive Pay requires directly without any registration lead time
Login > Authenticate > Submit Cheque details
Positive pay can be done for cheque payments of any amount
Security
- Secure your cheques against possible fraud
- Submit your request in a secure manner through a two factor authentication
24 * 7 Accessibility
Positive Pay can be done 24*7, however the details filled after 6pm will be processed the next day
No Additional Charges
Currently this service is offered without any additional charge to the customer
Digital Wallet with free Virtual card and UPI which can be used to send/receive money, mobile/DTH recharge, pay bills and much more
Read MoreDownload Forms