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remittance to an out station. In a sense, the payment order is used for making a remittance to the local creditors.

Issue and Payment of PO

F-19 should be filled in properly by the customer. Total amount should be deposited through cheques/cash.

Commission to be realized as per bank’s circular:

From Tk. 1/- upto Tk. 10,000/- Tk. 15/-

From Tk. 10,001/- upto Tk. 1, 00,000/- Tk. 20/-

From Tk 1, 00,001/- upto Tk. 5, 00,000/- Tk. 30/-

From Tk. 5, 00,001/- upto Tk. 10, 00,000/- Tk. 40/-

From Tk. 10, 00,001/- and above Tk.50/-

 Printed Payment Order leaf should be filled in as per F-19 and signed by two authorized officers.

 The instrument should be handed over to the purchaser.

 PO is required to be discharged by the beneficiary, where applicable on revenue stamp of appropriate value against in cash or through account.

Check Book

Check book is issued to the new customer after opening account. Two separate check books are given for current and saving accounts. AWCA accounts check book consist 25 and 50 leafs, while MCA account checkbook has 10 leafs. There is a check book issue register in this register in this regard, where check book number, leaf number , date of issue etc. information are kept. All the necessary numbers are the sent to the computer department to give entry in the program.

Clearing

As far safety is concerned customers get cross cheque for the transaction. As we know cross cheque cannot be encased from the counter rather it has though been collected through banking channel i.e. clearing. A client of IBBL received a check if another bank , which is located within the clearing range deposit, the check in account at IBBL will not the money until the check is honored.

Transfer Delivery

Transfer delivery is acheque collection procedure among internal branches within the clearing house. When a cheque is of a branch office...