e-Cheque Drop Box

Features e-Cheque Drop Box

Electronic Cheques (e-Cheques) is a Hong Kong financial infrastructure providing a secured yet convenient method of online payment.
Complementing the traditional paper cheuqes, the e-Cheque infrastructure is aiming to further promote e-commerce to the next level.The e-Cheque Drop Box system, drawing analogy to the traditional paper cheque drop boxes, is to facilitate deposit of e-Cheques by the bank customers.
The e-Cheque recipients (the payees) need to first register with the e-Cheque Drop Box system before the e-Cheque presentment service becomes available to them.When depositing an e-Cheque, the payee has the opportunity to choose, from a predefined list of bank accounts, the preferred account to deposit the funds.
Funds become available to the payee upon successful settlement, and the payee will be notified via emails.The e-Cheque Drop Box system currently support e-Cheques in Hong Kong dollar (HKD), Chinese Yuan (RMB) and the American dollar (USD).