Wednesday 10 March 2021

Precautions To Be Taken At The Time Of Cash Payment

In Banking one the most risky thing is Cash Payment, Cash officer need to active, alert and vigilant while doing cash payment to customer, as once you give extra cash to customer the maximum chances will be you need to pay it from your own pocket, So the risk of financial damage is very high in Cash payment, However if we observe certain precautions at the time of Cash Payment, we can save our self from big financial damages.

  • Always keep yourself Calm while performing any cash payment transaction, there is no any need to doing transaction in hurry.
  • Examine the Instrument ( Cheque ) Carefully, following are the things you need to examine in cheque before processing it on system, 1. Open Or Crossed 2. Bearer or Ordered 3. Date 4. Overwriting 5. Signature 6. Mutilated 7. Word and Figure Should be matched . So in this way you need to carefully examine these major thing before processing it on system.
  • Confirm Genuineness of Cheque in UV Lamp if the cheque is Above RS 100,000/=
  • Confirm Genuineness of Cheque Through IV Marker if the cheque is Above RS 1,000,000/=
  • Copy Of CNIC Should be Originally Seen, 
  • Always Ask Copy Of CNIC From Customer For Online Cheque (Other Branch Cheque) Irrespective of amount.
  • Signature Should be carefully checked and verified from concern branch staff.
  • Always conduct CBC (Call Back Confirmation) From Customer If the Cheque amount is more than Rs 100,000/= or banker May conduct CBC if he found something wrong in cheque, So For confirmation banker may conduct CBC.
  • Photo Account Signed / Thumb Should be in the presence of Bank/Branch Officer. 
  These are major precaution to be followed at the time of Cash Payment, As these things may safe you big financial loss.