e-Cheque is the electronic counterpart of paper cheque, and is issued and presented in digital form. The totally electronic operation process brings you the following key benefits:
Benefits
Added convenience
- Immediate access anywhere with an internet connection
- No need to physically pickup or deposit
Better security
- Uniquely identifiable and protected with digital signing technology that prevents data from being altered
- e-Cheque details are captured digitally for complete accuracy
e-Cheque Deposit
Personal customer could use the e-Cheque Drop Box on the HK Interbank Clearing Ltd (HKICL)
website or its mobile application to deposit
e-Cheques.
HSBC Commercial Banking customers
Key features
- Digitally signed PDF file format containing information similar to the information on the traditional paper cheque, and with an e-Cheque logo
- Has the same legal status as paper cheque
- Is not negotiable or transferable
- Valid for 6 months from the date of e-Cheque
- Must be addressed to a payee and deposited with a bank accepting e-Cheques
- e-Cheque can be uploaded and deposited via the e-Cheque Drop Box on the HKICL website (HK Interbank Clearing Ltd).
e-Cheque security features
- The e-Cheque issuance record kept by the paying bank provides an additional channel for the bank to verify the e-Cheque
- The adoption of Public Key Infrastructure (PKI) technology in the digital signature of e-Cheque helps to prevent e-Cheque tampering
- Centralized deposit checking mechanism avoids multiple deposit of same e-Cheque
Smart tips to use e-Cheque
Dos
- Use a secured electronic channel for e-Cheque delivery or encrypt an e-Cheque before delivery if necessary
- Remove the e-Cheques from the computer and/or smart phone after presentment unless record-keeping is necessary
Don'ts
- Don't scan an image of paper cheque and treat it as an e-Cheque
- Don't print out the e-Cheque for presentment at bank branches
- Don't deposit an e-Cheque more than once