No compulsion to use Cheque Drop Box Facility

RBI has asked commercial banks not to compel
customers to deposit cheques in drop boxes. This is
following a number of customer complaints against banks
for not accepting cheques at the counters.
Most of the new generation private sector banks and
foreign banks have introduced the drop box facility for
depositing cheques. This is seen as a win-win situation for
both the customer and the bank. The customer has the
freedom to deposit the cheque at any place at his or her
convenience. Customers would not get an
acknowledgement for the cheques deposited at a drop
box. For banks, the facility has reduced the cost of
servicing customers.
Considering the cost advantage, some banks have
started discouraging customers from depositing cash and
cheque at bank branches. They insist that customers,
irrespective of the amount, deposit cash at the ATMs.
Customers have been rather uncomfortable depositing
large sums of cash in an ATM and prefer human interface.
Taking note of this, the central bank has asked
• that customers should not be compelled to drop
the cheques in the drop box
• the facility for acknowledgement of the cheques at
the regular collection counters should also be
available to the customers.
• No branch should refuse to give an
acknowledgement if the customer tenders the
cheque at the counters.
• Wherever the cheque drop box facility has been
introduced, it is necessary that customer is made
aware of both the options available to him, i.e.
dropping cheques in the drop box or tendering
them at the counters so that he can take an
informed decision in this regard.
• Banks are, therefore, advised to invariably display
on the Cheque Drop-Box itself that 'Customers
can also tender the cheques at the counter and
obtain acknowledgement on the pay-in-slips'