Our Bank will launch e-Cheque deposit service on 7 December 2015. e-Cheque includes e-Cheque issuance and deposit services. Currently our bank will only provide e-Cheque deposit service.
e-Cheque is an electronic counterpart of paper cheque. Paying with e-Cheques will be an entirely paperless experience.
- It is in PDF format. It has similar layout of a paper cheque with the display of a standardized e-Cheque logo on the face of e-Cheque
- It has the same legal status as paper cheque
- It is not negotiable nor transferable
- It must be addressed to a payee and deposited to the payee's bank account only
- It can be used to make Hong Kong Dollar, US Dollar and Renminbi payments
- It can be issued anytime anywhere
- It removes the need for physical delivery and deposit
- It carries enhanced security features
- It removes the need of physical cheque book. The e-Cheque book is kept by the paying bank
- It is environmentally friendly
How to deposit e-Cheque
- Before deposit of e-Cheque sign up for the e-Cheque Drop Box service provided by Hong Kong Interbank Clearing Limited (HKICL)
- After successful sign up, the e-Cheque Drop Box can be accessed through HKICL website or mobile application
How secure is e-Cheque?
- The payer is required to pass through Two Factor Authentication (2FA) before issuing an e-Cheque
- The e-Cheque issuance record kept by the paying bank provides an additional channel for the bank to verify the e-Cheques
- Adoption of Public Key Infrastructure (PKI) technology in the digital signature of e-Cheque prevents e-Cheque tampering
- Centralized presentment checking mechanism avoids multiple deposits of e-Cheques
- The payer may consider encrypting an e-Cheque before delivery to further improve security
Download "e-Cheque" Brochure (provided by The Hong Kong Association of Banks)