Union Bank offers one-day cheque clearance

Union Bank is the only Bank to offer one (01) Day Cheque Clearance for cheques deposited up to 4.00 PM said Assistant Vice President Operations Union Bank, Ned Gomez.

The speed of cheque clearance is imperative to providing customer convenience said Gomez.

Taking advantage of evolving technology, implementing image cheque clearing and archive system, Union Bank offers efficiency to provide customer clearance. Funds are made available to all cheque-bearer accounts in one day (T+01) regardless of clearing zones.

This leads to efficient circulation of money in our financial and economic systems, and eliminates the cost of having to wait for the clearing process of cheques from different clearing zones.

Adding value to the Banks pledge to deliver superior customer service, all branches of the Bank accepts cheques up to 4.00 pm and all cheques received up to 4.00 pm are cleared on the same day and customers will have access to funds the next day.

Cheque deposit boxes are available at all branches offering cheque deposit facilities during non-banking hours.

Union Bank also offers the unique service of accepting post dated cheques which will be held at the branch and presented on the due date.

For the convenience of corporate and business customers, Union Bank is in the process of launching bulk cheque clearance ensuring convenience by eliminating the need of filling individual cheque deposit slips for large deposits.

The new system offers quick and efficient processing via image scanning and outputting of detailed print summary on cheque deposits.