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Encashment and Collection of Cheques

A service intended for private individuals, private individuals-entrepreneurs and legal entities for cashless or cash payments of selected bank or private cheques, or intermediating cheque collection. Encashment of cheques payable at another financial institution is intended only for the clients you have established an account at CSOB.



Benefits

Selected types of cheques are encashed immediately.


Among other benefits are as set out below:


  • we intermediating the collection of cheques issued in all valid currencies and that are payable in this country or elsewhere,
  • we intermediate the payment of cheques after maturity and cheques with faults, provided they are paid out by the drawee.

Get Acquainted

A cheque is:


  • a payment order,
  • a payment instrument,
  • defined by essential particulars based on law.

The drawer of the cheque orders the drawee ( bank, savings bank or another financial institution) to pay a certain amount to the person to the order of whom the cheque is drawn or the bearer.


The particulars of bank and private cheques depend on the area to which the respective country belongs


  • to the area of the Geneva Convention, to which most of the countries of Europe, including the Czech Republic and Slovakia, belong,
  • to the Anglo-Saxon area (USA, Canada, England, etc).

The encashment of cheques is dependent both on the particulars of the cheque and the date and place when and where the cheque is drawn and the place on which the cheque shall have to be encashed (the day of drawing shall not be included)


  • Deadlines for presentation of cheques for encashment in the area of the Geneva Convention:
    • 8 days if it is drawn and payable in the same country,
    • 20 days if it is drawn and payable in different countries of the same continent,
    • 70 days if it is drawn and payable in different countries,
  • Deadlines for presentation of cheques for encashment in the Anglo-Saxon region:
    • the so-called "reasonable period of time" (specified as 90 days) unless the respective clause specifies otherwise.

Personal cheques drawn to current accounts maintained at ČSOB and bank cheques with secured coverage payable at ČSOB are honoured promptly. Clients who establish accounts at our bank will also have selected bank cheques of solvent banks payable at another financial institution honoured immediately after the drawer’s signature is verified.


Other cheques are accepted for non-binding collection and collection of cheque amounts is done both in the CR and foreign countries.



Terms of Use

Cheques are honoured and collected for private individuals, private individuals-entrepreneurs and legal entities.


  • collection of cheques payable at another financial institution is made only for clients holding an account at CSOB,
  • cheques payable at CSOB presented by occasional clients are also encashed.

Cheques are honoured as set out below:


  • cashless by crediting the current account kept at CSOB or in accordance with cheque holder’s instructions,
  • in cash to the authorised cheque holder, private person.

The principles for the acceptance of cheques for clearance are stipulated in the Terms and Conditions for Drawing and Acceptance of Cheques at CSOB.


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