Positive Pay System

Positive Pay System

Advanced Fraud Protection for Your High-Value Cheque Transactions

Secure Your High-Value Cheques with Advanced Cross-Verification

Mandatory Security for High-Value Cheques of ₹5,00,000/- or More

Built Upon RBI Established Fraud-Prevention Framework for Added Safety

Pre-clearing Cross-verification of Presented Cheques Against PPS Submitted Details

Validating Transaction Records Prior to Release of Funds, Ensuring Complete Account Protection

Other Benefits

Other Benefits

  • Effectively negates cheque tampering and unauthorized modifications
  • Ensures the safety of your funds by matching cheque details with PPS submitted details
  • Protects your large personal/corporate transactions from malicious fraud attempts

Submission Details:

  • Account Number
  • Cheque Number
  • Cheque Date
  • Cheque Amount
  • Beneficiary/Payee Name

Step-By-Step Guide:

  • Issue a High-Value Cheque for an amount of INR 5,00,000/- or more.
  • Submit the details mentioned above on the PPS Portal, here. Alternatively, you may visit the nearest SVC Bank Branch and submit a PPS Confirmation Form.
  • Hand over the cheque to the beneficiary.

FAQ

Positive Pay System (PPS) is a fraud-prevention tool introduced by the Reserve Bank of India that acts as a double-verification process for high-value cheques by matching the details mentioned on the physical cheque with your details submitted on the PPS Portal/ PPS Confirmation Form.

PPS submission is mandatory for all cheques issued for an amount of ₹5,00,000/- or more.

Cheques meeting or exceeding the ₹5,00,000/- threshold will not be cleared without prior PPS verification.

You need to provide five primary details: Account Number, Cheque Number, Cheque Date, Cheque Amount, and Beneficiary/Payee Name.

You can submit the necessary cheque details on the PPS Portal or visit the nearest SVC Bank Branch and submit a PPS Confirmation Form.