HDFC Bank can structure a number of Payment products to suit your various needs.
Structures could include:
Payable At Par Cheque Book
This product enables you to issue local cheques at all HDFC Bank branch locations through one cheque book thereby eliminating the hassles of obtaining demand drafts or opening current account at each location.
At Par facility for Statutory Payments
This facility can be utilised by you to make various statutory payments such as dividend, interest / redemption of debentures, IPO refunds etc. This facility is available for all HDFC Bank locations and 100 locations of our correspondent bank.
This product includes the following features :
HDFC Bank branch locations - cover over 80% of shareholders / beneficiaries for most of our clients. Hence reconciliation, query resolution and pricing is superior.
In order to provide adequate coverage, HDFC Bank also provides 100 locations of our correspondent bank. However, there is sustained reduction in dependence on correspondent bank due to continuously increasing branch network.
The maximum limit on warrant can be mutually agreed upon - substantially reducing draft costs and efforts.
Ability to meet your requirement of large number of drafts in a short time at very competitive rates.
An At Par cheque book is provided on branch locations, after revalidation thereby eliminating the need for Demand Drafts on branch locations.
Pay Quick
This product caters to your requirement of large volume of Demand Drafts/Payorders at over 1617 HDFC Bank and correspondent bank locations.
This product includes the following features:
Option to forward data in soft copy form (floppy) in a secure environment.
Easy data transferability from your office to HDFC Bank.
Multiple payment instructions through one file.
Upload option for bulk issuance resulting in quick and error free delivery.
Payment instrument to include payment details.
Facility to mail to beneficary directly. Also the committed courier turn around time enables you to make payments as close as possible to the payment date - resulting in additional cost savings.
Various value added MIS.
One Stop dedicated Service Desk at our Centralised Cash Management Operations Unit for prompt attention to your queries.
Extensive coverage - over 500 locations.
Status of DD - paid / unpaid - can be provided on HDFC Bank location on a case to case basis.
