Yes, the service is available exclusively for Union Bank account holders.

Yes, the service is applicable to all outstation cheques payable in India.

In case of delay beyond the T+6 basis, interest will be paid by the Bank as per the Compensation Policy for the delayed period.

The compensation payable is a fixed deposit rate prevailing at the time of payment of interest for the period of delay beyond 7 days in the collection of outstation cheques.

There could be a few locations where Union Bank may not be participating in the local clearing. If the bank is unable to extend credit under this service due to this reason, the branch will intimate the customer about the same at the time of receiving the cheque.