Rights of the Payee
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Right to claim compensation if the bank fails to credit proceeds for valid reasons (e.g., instrument loss, discrepancy, or delay).
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Right to enquire cheque clearing status during banking hours.
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Right to know the charges applicable for same-day/OBC clearing.
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Right to request a copy of cheque/instrument from the collecting bank if a forged instrument is detected.
Responsibilities of the Payee
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Ensure the cheque is not stale or post-dated before deposit.
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Confirm the amount in words and figures match and that the signature is at the correct place.
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Fill the deposit slip carefully with complete and accurate information.
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Deposit cheques within official banking hours.
Liabilities of the Payee
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Liable to return or repay if any amount is wrongly credited to the account.
Rights of the Drawer
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Right to stop cheque payment before it is debited.
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Right to claim damages if the cheque is wrongly dishonored.
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Right to request a copy of the paid cheque from the bank (charges may apply).
Responsibilities of the Drawer
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Issue cheques only if sufficient balance is available.
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Ensure:
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Amounts in words and figures match
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Signatures match bank records
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Valid cheque date is used
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Keep the cheque book secure from misuse.
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Draw cheques clearly and legibly, avoiding alterations.
Liabilities of the Drawer
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Liable to pay bank charges if the cheque is dishonored for reasons such as:
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Insufficient funds
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Signature mismatch
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Post-dated/stale cheque
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Amount discrepancies
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Cut-off Timings for Outward Clearing
| Clearing Types/Sessions | Collection of Instruments (T + 0) | Credit in Payee’s Account |
|---|---|---|
| Same Day | 9:30 AM | T + 0 (Before close of business hours) |
| Overnight | 1:30 PM | T + 1 (Before close of business hours) |
| Intercity | 1:30 PM | T + 1 (Before close of business hours) |
Important Customer Information
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Cut-off Times: The table above shows the final time for presentation of instruments for each type of outward clearing.
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Customer Support: Customers may contact the Branch Manager or Branch Service Manager for more information about their rights, responsibilities, and liabilities.
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Authorized Branches: A list of branches authorized to process same day, intercity, or overnight clearing is available at www.abl.com.
Criteria for Lodgment of Cheques for Same Day Clearing
To qualify for Same Day Clearing, the following conditions must be met:
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Instrument Type: Only instruments issued in PKR (Pakistani Rupees) are eligible.
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Bank Branch: Cheques must be drawn on a bank branch that is a member of the Same Day Clearing system.
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Minimum Amount: Instruments must be equal to or greater than PKR 100,000.
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Timely Lodgment: Instruments must be received by 9:30 AM daily.
Footnotes
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T = The business day on which the payment instrument is lodged for clearing.
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Note: Instruments received after the defined cut-off timings will be processed on the next working day.