Bills

Bills


COLLECTION, NEGOTIATION (PURCHASE) OF CHEQUES, DRAFTS & BILLS

Collections and Negotiation (Purchase) of cheques and bills are important services rendered by the Bank to its customers. Collection means the acceptance of cheques, bills and other instruments from our customers, which are payable at other Centres/Banks, sending these to our correspondent bank/drawee banks for payment and crediting their proceeds to the accounts of the lodgers thereof after their payment/payment advice is received from the correspondent/drawee banks. Negotiation (purchase) means the purchase of cheques/bills drawn on other centres/banks, from parties of good standing, who are given immediate credit/cash for the amounts of the instruments even before these are paid at the concerned offices.

 

INSTRUMENT PAYABLE WITHIN BHUTAN PAYABLE OUTSIDE BHUTAN
Collection Negotiation Collection Negotiation
Cheques/Drafts
Bills
Banker’s Cheque
(BC)
C.B.
C.B.C.
Nepal Drafts
O.C.
I.B

 
Purchase of Cheques/Bills
(A) Demand Drafts purchased of Cheques/Drafts (within Bhutan) :
Service Charges:

Both Public & Government
Both public & government Max. Nu.100

(B) Outward Cheques purchased of Cheques/Foregin Drafts (outside Bhutan):
Service Charges:

Both Public & Government
Both Public and Government
0.5% of value (Max. Nu.20000)

NOTE:
* Postage/out of pocket expense @ Nu.30/- and Nu.45/- per Instrument on DDs and OCs respectively will be charged in addition to above charges.
Telephone Charge @ Nu.40/- per Instrument will be charged towards Lien Noting Charge.

Bills of Exchange (IB)

Negotiation (Purchase) of Foreign Cheques/Foreign Drafts:

Service Charges
Amount x 1% plus Actual Postage

For further information, please contact our nearest branch