Speed Clearing

Get Your Funds Faster with Union Bank's Speed Clearing Service.

Faster Processing: With Speed Clearing, customers can expect faster processing of outstation cheques. Instead of relying on the outstation collection, cheques are cleared locally, which reduces processing time and speeds up transactions.
Convenience: Customers can deposit cheques issued by Union Bank from anywhere in India at local clearing centres in metro cities, making it more convenient for them to carry out their banking transactions.
Reduced Risk: By eliminating the need for outstation collection, the Speed Clearing system reduces the risk of cheque fraud and other risks associated with the traditional cheque-clearing process.
Greater Efficiency: The Speed Clearing system increases the efficiency of the clearing process, reducing the time and effort required to clear cheques.
Increased Transparency: The system provides greater transparency in the clearing process, allowing customers to track the status of their cheques and ensuring that they are processed in a timely and efficient manner.

Frequently Asked Questions (FAQs)

What is Speed Clearing?

Where is the Speed Clearing system available?

Can customers in all locations avail the benefits of Speed Clearing?

How does Speed Clearing reduce the risk of cheque fraud?

How long does it take for outstation cheques to be cleared through local clearing under the Speed Clearing system?