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What’s in store for you

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Collection Products

  • Local Cheque Collections
  • This product provides quick realisation of local cheques deposited at the same location. It is available at all HDFC Bank locations (SPEED) and over 18 locations of our correspondent bank (RAPID).
  • Outstation Cheque Collections
  • This product allows you to deposit outstation cheques drawn on any HDFC Bank location at any HDFC Bank branch (SPRINT). Similarly, cheques drawn on over 300 locations of our correspondent bank (EXPRESS) can be deposited at any HDFC Bank branch.
  • Transfer Cheque Collections
  • This product provides quick realisation of local and outstation cheques drawn on any HDFC Bank branch. It is available at all HDFC Bank locations (HDFCTRF).
  • Clean Collections
  • Deposit cheques drawn on any location not covered by HDFC Bank or our correspondent bank network at any of our branches, and funds will be credited to your account as soon as they are received by HDFC Bank.
  • Comprehensive MIS
  • HDFC Bank's comprehensive MIS includes:
  • Daily report of deposits made at various locations.
  • Location-wise report.
  • Credit forecast report.
  • Monthly cumulative report - by date or location.
  • Monthly charging statement.
  • Monthly cheque return statement.
  • Customised reports, if any.

More About Collection Services

HDFC Bank's Collection Services accelerate the realisation of both local and outstation cheques, ensuring swift fund transfers to a central collection account. This enhances your ability to manage cash flows efficiently. Our service is available with or without an existing current account at HDFC Bank, offering flexibility to meet your business needs.

*The (Most Important Terms and Conditions) for each of our banking offerings features all the specific terms and conditions that govern their use. You must go through it thoroughly to fully understand the terms and conditions applicable to any banking product you choose.

Frequently Asked Questions

Collection Services in Banks involve managing the collection of payments on behalf of customers. This includes processing cheques, drafts, and other forms of payment, ensuring efficient and secure transactions.

In Customer Service, 'Collection' refers to gathering and analysing customer feedback, complaints, and inquiries. It systematically organises this information to improve products, services, and overall customer satisfaction.

Clean Collection is a term used in banking to describe the process of handling payments free from discrepancies or disputes. It signifies smooth and hassle-free transactions without any payment authenticity or validity issues.

Collection Services offer several advantages, including streamlining payment processes, improving cash flow management, reducing administrative burdens, enhancing customer satisfaction, and minimising the risk of payment delays or defaults.

To apply for Collection Services, contact your bank or financial institution. They will guide you through the process, which typically involves filling out an application form, providing necessary documentation, and agreeing to the terms and conditions of the service.